Equity injection is a key component of many SBA 7(a) loans and, when it is required, it is imperative that every lender verify the source of injection. Not verifying the…
The Final Rule: Regulatory Reform Initiative: Streamlining and Modernizing the 7(a), Microloan, and 504 Loan Program to Reduce Unnecessary Regulatory Burden (87 FR 38900, commonly known as the “Deregulatory Rule”)…
Using outside counsel to assist with loan closings may or may not be standard practice for SBA Lenders depending on a variety of factors such as: where a Lender is…
On SBA 7(a) loans, it is common for sellers of small businesses to offer the buyer a promissory note to pay some of the purchase price for the business. Seller…
Banks are repositories for vast amounts of financial information. This information may be useful to parties in lawsuits in which the bank is just an innocent bystander. Banks often receive…
SBA lenders know that having a complete and compliant closing file is key to preserving the SBA Guaranty. When a transaction deadline is looming, or in the case of an…