Late last year, the American Land Title Association (ALTA) and the National Society of Professional Surveyors (NSPS), successor to the American Congress of Surveying and Mapping (ACSM), adopted new Minimum…
When financing a government guaranteed loan through the Small Business Administration (“SBA”) 7(a) program, lenders must not only identify all collateral required by the SOP 50 10 but also obtain…
When SBA lenders use loan proceeds to refinance existing debt, there are various requirements that must be met for the loan to be eligible. SOP 50 10 5 (H), Subpart…
When a commercial loan goes into default, it is not uncommon for the borrower or guarantor (or both!) to enter bankruptcy. A bankruptcy filing by the borrower or guarantor has…
As with most litigation, most of the time and expense is incurred in the pre-trial phase known as discovery. During discovery, the parties to the lawsuit have the opportunity to…
When financing a start-up or business acquisition, lenders typically require a lien on the business assets of the borrower as collateral. If the borrower operates a restaurant serving alcohol or…
