The financial markets over the past year and half have been nothing short of volatile. Throughout 2022 and continuing into the first quarter of 2023, the Federal Reserve has been…
Prior to disbursement of Loan proceeds of an SBA 7(a) loan, all SBA lenders must obtain certain due diligence information from the small business applicant to comply with the terms…
On March 1, 2023, SBA issued SBA Procedural Notice 5000-844866, Extension of Guidance for Revisions to SOP 50 10 6 Financial Information Verification Procedures to Allow for the Use of…
Buying a business is an exciting time and allows the new business owner to look forward to all of the great things that they hope to accomplish. In most cases,…
Financing a business acquisition is an eligible use of SBA 7(a) loan proceeds, provided, that certain conditions are met. One of those conditions is that a seller is required to…
With the current uptick in SBA loan defaults, lenders should ensure that their loan servicing teams familiarize themselves with the SBA’s offer in compromise (“OIC”) process. A lender may not…