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Best Practices: SOP 50 10 6 Clarifies Requirements for SBA Loans Involving 401(k) Plans

Prior to the release of SOP 50 10 6, there had been a lot of confusion surrounding the processing of Small Business Administration (“SBA”) loans in which the borrower is…
  • October 28, 2020
  • Katie O'Brien

Best Practices: Which SBA PPP Loan Forgiveness Application Form Should Be Completed?

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), was signed into law, and the Paycheck Protection Program (“PPP”) was included as part of that…
  • October 21, 2020
  • Janet M. Dery

Best Practices: SBA issues formal guidance on Change of Ownership Transactions involving PPP Loans but questions remain

Over the past several months, with no formal guidance in place, SBA lenders have been operating on an ad hoc basis when financing change of ownership transactions where a PPP…
  • October 14, 2020
  • Jennifer E. Borra

Best Practices: Certifying Records Requested in a PPP Loan Investigation

Considering the billions of dollars in PPP loans that Lenders made without being able to employ its customary underwriting and due diligence procedures, it is not surprising that investigations are…
  • October 7, 2020
  • Norman E. Greenspan

Best Practices: Servicing and Liquidating PPP Loans

Lenders face uncharted territory when servicing and liquidating (“S&L”) Paycheck Protection Program (“PPP”) loans.  This article explains the unique challenges lenders face with these unsecured facilities, and offers suggestions until…
  • September 30, 2020
  • Lyndsay Rowland

Best Practices: Last Call for Section 1112 Closings

Lenders and borrowers only have a few days left to take advantage of the subsidy loan payments provided by Section 1112 of the Coronavirus Aid, Relief, and Economic Security Act…
  • September 23, 2020
  • Michelle Sergent Kaas
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