On May 28, 2026, the Small Business Administration (“SBA”) issued Policy Notice 5000-879464, Prior Loss Rule: Non-Controlling Ownership Update (the “Notice”), which provided guidance for SBA eligibility questions…

While the SBA’s Eligible Passive Company (“EPC”) guidelines are well established, lenders continue to encounter compliance issues that may threaten the SBA guaranty. The EPC rule is a…

Following its “do what you do” policy era, the U.S. Small Business Administration (SBA) has issued various procedural notices, underwriting updates, and eligibility revisions in the past few…

Obtaining a U.S. Small Business Administration (SBA) loan is one of the most consequential financial decisions a business owner will make. Whether acquiring a business, purchasing commercial real…

The updated SOP 50 10 8 (“SOP”) has replaced the long-standing “do what you do” flexibility with stricter underwriting expectations, making insurance a more critical component of the…

The SBA’s International Trade Loan (“ITL”) program has recently undergone a meaningful transformation intended to expand opportunities for access to capital. Previously a niche, export-focused product, ITL is…