The SBA recently issued its Procedural Notice on when a lender may request the SBA to honor its guaranty of a PPP loan. The PPP loan program has been in place for over a year and has provided billions of dollars of assistance...more
7/22/2021
/ Banking Sector ,
Change of Control ,
Charge-Off ,
Commercial Bankruptcy ,
Government-Guaranteed Loans ,
Lenders ,
Loan Forgiveness ,
New Guidance ,
Paycheck Protection Program (PPP) ,
Proof of Claims ,
SBA ,
SBA Lending Programs
Lenders often include fees in loan transactions in addition to an interest rate. Typically such fees are not considered interest, as they compensate the lender for various services or commitments provided under the loan...more
The short answer is that an agreement is enforceable against a bank when the agreement is in writing and signed by the bank. But, the answer really depends on the jurisdiction involved....more