SBA lenders often include financial reporting provisions in their loan documentation, but may not realize the significance of this type of monitoring and the potential impact it can have on…
When Lenders rely on a third party closing agent, such as a title agent or escrow agent, to assist with loan closing and disbursement on behalf of the Lender, it…
Equity injection is a key component of many SBA 7(a) loans and, when it is required, it is imperative that every lender verify the source of injection. Not verifying the…
The Final Rule: Regulatory Reform Initiative: Streamlining and Modernizing the 7(a), Microloan, and 504 Loan Program to Reduce Unnecessary Regulatory Burden (87 FR 38900, commonly known as the “Deregulatory Rule”)…
Using outside counsel to assist with loan closings may or may not be standard practice for SBA Lenders depending on a variety of factors such as: where a Lender is…
On SBA 7(a) loans, it is common for sellers of small businesses to offer the buyer a promissory note to pay some of the purchase price for the business. Seller…