In the SOP 50 10 5(K), the U.S. Small Business Administration (“SBA”) sets forth specific rules on refinancing same institution debt. If a lender is seeking to refinance its own…
When a Buyer is considering acquiring a new business, both the Purchaser and Lender should consider whether the Seller or any of its key employees could pose a threat to…
Financing a business acquisition is an eligible use of SBA loan proceeds, provided, that certain conditions are met. SOP 5010(5)(K) states that a business acquisition must result in a 100%…
A Notice of Commencement recorded prior to your mortgage can wreak havoc on your construction loan. In Florida, before any work can begin to improve real property, a Notice of…
The recently revised Standard Operating Procedure 50 10 5(K) (“SOP”) defines the Lender Service Provider (“LSP”) Agreement as “a written contract between a Lender and an Agent who assists the…
The SBA program is deeply rooted in the idea in providing support only to “applicants for whom the desired credit is not otherwise available on reasonable terms from non-Federal sources.”…