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SBA 7(a) Lessons Learned – SBA Question? – Ask the Experts

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 […]

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SBA 7(a) Repair or Denial of the Guaranty; Loans and Loan Liquidation: Harm to the Agency

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

In many cases, the SBA may question a lender’s liquidation activities at the time of guaranty purchase review. A full or partial denial of liability is justified if a lender fails to liquidate a loan in a commercially reasonable and prudent manner and the failure caused, or could cause, a material loss on the loan. […]

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SBA 7(a) Repair or Denial of the Guaranty – Failure to Document Disbursements

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

A full or partial denial of liability may be justified if the Agency suffers a material loss on the loan due to the Lender’s failure to ensure that the loan proceeds were used in accordance with the Loan Authorization as required by the version of SOP 50 10 in effect at the time the loan […]

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