One of the basic tenets of SBA lending is that an applicant must be an active operating business. SBA prohibits financing assets that are held for their passive income, with…
When it comes to SBA lending, all participating lenders are no strangers to loan documents that include confession of judgment provisions (“COJ Provisions”). By way of background, COJ Provisions are…
Effective January 1, 2020, Florida law requires new language to be used in ALL notarial certificates for acknowledgments and jurats pursuant to House Bill 409 (“HB 409”)/Session Law Chapter 2019-71,…
The last few days before a closing can be a hectic time. Each party has its own responsibilities and everyone must make sure that there is an agreement as to…
On September 17, 2019, SBA provided an advance notice of proposed rulemaking (“ANPRM”) seeking the public’s comments to changes to the regulations governing SBA’s Export Loan Programs in an ongoing…
The Office of the Inspector General (“OIG”) established the High Risk 7(a) Loan Review Program in 2014 to minimize losses on high dollar/early-defaulted U.S. Small Business Administration (“SBA”) guaranteed 7(a)…