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…
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…