Generally speaking, every SBA 7(a) loan must be guaranteed by at least one individual or entity. The SBA has set out different criteria and requirements for different types of guarantors.…
The new SBA final rule “Affiliation and Lending Criteria for the SBA Business Loan Programs” (the “Rule”) is set to change the landscape of SBA franchise lending. Effective on May…
On March 30, 2023, the Consumer Financial Protection Bureau (CFPB) issued a final rule, amending Regulation B, implementing changes to the Equal Credit Opportunity Act (ECOA) made by section 1071…
This week SBA has published two new final rules that are scheduled to take effect in Mid-May, 2023. The final rule “Affiliation and Lending Criteria for the SBA Business Loan…
When financing a commercial condominium purchase, lenders should carefully review all condominium documents and title documents and obtain all necessary title endorsements and insurance. Pertinent condominium documents may include the…
In change of ownership transactions, Sellers may agree to finance a portion of the purchase price through the use of a promissory note (“Seller Note”). Seller financing reduces the amount…