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…
Borrowers undertaking a U.S. Small Business Administration (“SBA”) 7(a) loan often ask lenders whether a new survey will be required to close. This is a complex question and often, the…
When U.S. Small Business Administration (“SBA”) loan proceeds are used to finance the acquisition of commercial real estate, a title policy is obtained to protect the interests of the bank…
A growing number of SBA lenders are utilizing electronic signatures on their SBA forms and documents, including loan documents, which require a signature. SBA lenders must be mindful of the…
Section 106 of the National Historic Preservation Act requires Federal agencies to consider whether their federally-funded projects directly or indirectly adversely impact properties and sites that are listed or eligible…
Insurance requirements are different for every loan and are based on the type of collateral being taken, the type of business that is borrowing funds and the project for which…