Lerch Early attorneys have assisted banks and credit unions across the country close thousands of SBA loans, including SBA 7(a), SBAExpress, CAPLine, international trade, and SBA 504 loans.
Loans guaranteed by the U.S. Small Business Administration present unique challenges to lenders in underwriting, closing, servicing and collection procedures. Our lender clients are required to comply with a complex web of ever-changing laws, rules, and regulations. Federal regulators have become increasingly stringent in oversight of these loans. We help our clients navigate issues including compliance with the SBA Standard Operating Procedure (SOP), the SBA guaranty purchase center, SBA Office of Inspector General Investigations, and preparing for and responding to SBA audit requests and enforcement actions.
- Helped SBA lenders assist their borrowers in closing SBA-guaranteed loans for mom-and-pop businesses needing $100K to $5 million loans for more sophisticated transactions.
- Closed thousands of SBA loans.
- Helped multiple banks issue asset-based lines of credit under the CAPline program and international trade loan programs.
- Helped a lender close a 504 loan for the purchase, construction, and development of a franchise day care center.
- Represented a national bank in closing a series of SBA 504 loans to a Virginia-based retailer of gardening and light construction vehicles.
- Represented a Midwest regional bank in defending the SBA challenge to the SBA guaranty of a large loan where the SBA had proposed denial of the guaranty. The SBA had taken issue with how the bank had underwritten and closed the loan; with our assistance, the bank was able to demonstrate that it had complied with the SBA’s requirements. The SBA ultimately honored the guaranty.
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