As of August 1st, 2023, the new Standard Operating Procedure (“SOP”) for SBA lending (Small Business Administration Loan Programs) went into effect. There were many changes in the new SOP which impacts the SBA lending programs quite substantially. And as with any government related program, not all of the changes have been fully flushed out…
Day: September 19, 2023
The Tightening Commercial Credit Market
Although the fallout from the various large bank failures earlier this year seem to largely be behind us, the banking industry is continuing to struggle from a wide variety of stresses that do not seem likely to disappear anytime soon, including the following:Shrinking Deposit Balances – not a day goes by where there is not…