call now:
1-800-613-8262

Author Archives Prudent Lenders

SOP 50 10 5(F) Technical Corrections

Posted by Prudent Lenders in News with No Comments

On September 25, 2013, SBA announced the release issuance of Standard Operating Procedures (SOP) 50 10 5(F) (Lender and Development Company Loan Programs) that would become effective on January 1, 2014. In the interim and prior to the effective date of the SOP, the Patriot Express Pilot Loan Initiative terminated, and the Office of Financial [&hell...

Read More

SBA 7(a): Denial of the Guaranty on Business Valuations and Appraisals

Posted by Prudent Lenders in SBA 7(a) Lessons Learned – SBA Question? - Ask the Experts with No Comments

The SBA requires all lenders to have business valuations conducted for a loan to finance a change in ownership. Failure to adequately justify the value of the business acquired with loan proceeds, in many cases, may warrant a repair or full denial of the guaranty. The SBA has two concerns: 1) that loan proceeds are […]...

Read More

SBA 7(a) Lending and the Office of Inspector General – Audit Results

Posted by Prudent Lenders in SBA 7(a) Lessons Learned – SBA Question? - Ask the Experts with No Comments

The Office of Inspector General (“OIG”) is currently auditing the SBA to determine if the Agency is properly mitigating its risk of loss.  Specifically, a focus has been placed on loans that were approved and closed during the 7(a) Recovery Act.  The Recovery Act provided the SBA with $730 million to expand the Agency’s lending […]...

Read More
Page 5 of 12« First...34567...10...Last »