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Fundamentals of SBA Lending: Documenting, Closing and Funding the SBA Loan

Don't risk a denial - get the details you need to prepare successful SBA loans.

At one time SBA loans were considered loans of last resort because of the complexities and nuances of SBA requirements and closing process. As credit standards have tightened, government guaranteed loans have gained prominence whereby lenders appreciate the credit enhancements provided through SBA programs to provide to credit facilities as well as fee income earned on SBA loans sold in the secondary marketplace. While these programs are readily available and encouraged by the SBA, they can be complicated for lenders. The topic will walk you through the details you need to know to prepare successful SBA loans. If a SBA loan is not properly documented, closed and serviced, it could lead to a partial or full denial of the guaranty in the event of a default with respect to a 7(a) loan or result in the failure of lenders interim loan to be refinanced with a 504 loan debenture. You will learn who's eligible for loans, the different programs available (Standard 7(a) Loan Processing, Certified Lender Program), Preferred Lender Programs, 504 Loan Program, how the process works, what you need to document, and how to avoid common pitfalls.

Runtime: 98 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview of 7(a) and 504 Programs

  • Programs Available
  • Types of Processing
  • Purpose - Use of Proceeds
  • Eligibility
  • Loan Terms
  • Overview of SBA SOP 50 10

Documenting SBA Loans

  • SBA Authorization
  • Credit Standards
  • Capital Injection Requirements
  • Collateral
  • SBA Closing Requirements
  • Basic Loan Conditions

Closing and Funding SBA Loans

  • Collection and Review of Due Diligence Items
  • SBA Closing Forms
  • Review of Third-Party Reports
  • Common Roadblocks
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

Applications have not yet been submitted for Delaware, Idaho, Kentucky, Ohio, Oklahoma, South Carolina, and Wyoming CLE for this course. However, if you are interested in obtaining CLE for any of the listed states or have any additional credit questions please email us at [email protected] or call us at 866-352-9540.

This course was last revised on August 24, 2018.

Call 1-866-352-9540 for further credit information.

  • AK CLE 1.5
     
  • Alaska attorneys may receive 1.5 hours of continuing legal education for completing this program. Please contact the Alaska Bar Association or go to www.alaskabar.org for details regarding reciprocity with other states.
     
  • AL CLE 1.6
     
  • This course or a portion thereof has been approved by the Alabama State Mandatory Continuing Legal Education Commission for a maximum of 1.6 hours credit.
     
  • Arizona CLE 1.5
     
  • The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
     
  • CA MCLE 1.5
     
  • Lorman Business Center, Inc. is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
     
  • CO CLE 2.0
     
  • This program may qualify for 2.0 credit hours through the Colorado Supreme Court Board of Continuing Legal and Judicial Education through reciprocity. This course is accredited in other jurisdictions such as New Jersey. To receive CLE credit for this program, a home study affidavit must be submitted to the Supreme Court Board of Continuing Legal and Judicial Education.
     
  • CT CLE 1.5
     
  • Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
     
  • HI CLE 1.5
     
  • This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
     
  • IL CLE 1.5
     
  • This course was approved for a total of 1.5 hours of MCLE Credit by the Illinois MCLE Board.
     
  • ME CLE 1.5
     
  • This course has been approved by the State of Maine Board of Overseers of the Bar. Lawyers who complete this course shall receive 1.5 hours of CLE credit under M. Bar R. 12.
     
  • MS CLE 1.7
     
  • This program has been approved by the Mississippi Commission on Continuing Legal Education for a maximum of 1.7 credit hours.
     
  • MT CLE 1.5
     
  • This program has been approved by the Montana Commission of Continuing Legal Education for a total of 1.5 CLE credits.
     
  • ND CLE 1.75
     
  • North Dakota CLE policy does not allow for pre-approval of any self-study courses. This course may qualify for up to 1.75 hours of CLE credit.
     
  • NH MCLE 1.6
     
  • NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 95 Minutes.
     
  • NJ CLE 1.8
     
  • This program has been approved by the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.8 hours of total CLE credit.
     
  • NV CLE 1.5
     
  • This program has been approved by the Nevada Board of Continuing Legal Education for 1.5 CLE hours.
     
  • PA CLE 1.5
     
  • This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
     
  • RI CLE 1.5
     
  • This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 1.5 hours of CLE credit.
     
  • TN CLE 1.63
     
  • This program has been approved as a distance learning format by the Tennessee Commission on Continuing Legal Education for a maximum of 1.63 hours of credit.
     
  • VT CLE 1.5
     
  • This program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hours of self-study CLE credit.
     
  • WA CLE 1.75
     
  • This program has been approved by the Washington State Board of Continuing Legal Education for 1.75 hours of A/V credit under the Law & Legal Procedure category.
     
  • WI CLE 1.5
     
  • This program has been approved by the Board of Bar Examiners for 1.5 hours for use toward the Wisconsin Mandatory CLE requirement.
     
  • WV MCLE 1.8
     
  • This program has been approved by the West Virginia State Bar MCLE Commission for 1.8 MCLE hours.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Heidi K. Hoffman-Shalloo

Heidi K. Hoffman-Shalloo

Schenck, Price, Smith & King LLP

  • Joined Schenck, Price, Smith & King, LLP in July 2016 as a partner in the Banking and Finance Practice Group
  • Practices as a transactional attorney and focuses on representing corporate entities and individuals in all aspects of commercial real estate, leasing, entity financing, sales and acquisition of business assets and general corporate guidance
  • Prior to joining Schenck, Price, Smith & King, LLP she was a partner and chair of the Commercial Real Estate and Commercial Lending Department at a mid-size Monmouth County law firm where she practiced for more than 17 years
  • Represented numerous lenders and borrowers in the closing of both government guaranteed and general commercial loans
  • J.D. degree, Pace University; B.S. degree, George Washington University
Thomas L. Hofstetter

Thomas L. Hofstetter

Schenck, Price, Smith & King LLP

  • Principal at Schenck, Price, Smith & King LLP in Florham Park, New Jersey, chair of the firmís Banking Practice Group and member of Workout Restructuring Practice Group and Corporate Law Group
  • Practice focuses on representing commercial lenders in loan transactions and other commercial matters
  • Experience crosses a broad spectrum of lending areas, including real estate and asset-based secured loans, construction loans, foreclosures and loan workout arrangements
  • Member of the National Association of Government Guaranteed Lenders (NAGGL) 7(a) Trade Origination serving as chair of Region II Regional Liaison Committee, member of Technical Issues Committee and instructor for the organization
  • Member 504 National Association of Development Companies (NADCO) 504 Trade Organization
  • Regularly presents in person and online seminars, and conducts training sessions for clients regarding all aspects of closing commercial loans and SBA loans, including annual updates on the SBA SOPs
  • Represents several national and community lenders with regard to 7(a) and 504 loans, designated counsel for several 504 Certified Development Companies (CDC)
  • Former general counsel of a community bank and section chief for the Federal Deposit Insurance Corporation
  • Can be contacted at 973-540-7308 or [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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Product ID: 404516
Published 2018
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