On September 1, 2021, the Consumer Financial Protection Bureau (CFPB and/or Bureau) issued a notice of proposed rulemaking (NPRM) requesting public comment on its proposed rule to implement Section 1071…
In order to properly document and close an SBA 7(a) loan, lenders must exercise care to ensure that loan proceeds are disbursed in strict accordance with the lender’s credit memo,…
Weather disasters and flooding can significantly impact a small business’s viability. When businesses financed with SBA loans suffer damages from flooding, losses can extend to the lenders that advanced the…
Shortly after the CARES Act was enacted, and the PPP loan program began, the lawsuits started. From the beginning, there was concern that the PPP loan demand would exceed the…
Any lender that has received a recommendation for a guaranty denial from the SBA is familiar with the process involved. A lender submits its guaranty purchase package to the Agency.…
When financing improvements on leased land, it is important to consider the ways in which an SBA lender can adequately secure its loan. The purpose of this article is to…