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

SBA 7(a) Denial of the Guaranty – Environmental Issues

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

It is the SBA’s policy that all lenders must follow SBA regulations on environmental investigations at the origination stage of an SBA 7(a) loan. This becomes a problem most often in the context of loans to gas stations. As real property is usually taken as primary collateral, and such real property involves the sale of […]

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Early Defaulted Loans and Denial of the Guaranty: the “Rebuttable Presumption”

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

If a borrower defaults within 18 months of initial disbursement (or, if the final disbursement was made more than 6 months after the initial disbursement and the borrower defaults within 18 months after the final disbursement), the SBA considers the loan an “early default”.  The date of default is generally determined by the first uncured [&he...

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SBA 7(a) Program Eligibility: “Eligibility of Debt Refinance”

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

In order to use the proceeds of an SBA 7(a) loan for the refinance of debt, lenders must document that the debt was eligible. It should be noted that this issue is distinct from the eligibility concerns raised in previous articles in that only those funds used to refinance ineligible debt should be subject to […]

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