News & Analysis as of August 3, 2025

Small Business Administration › Lenders

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The Small Business Administration is a United States federal agency established in 1953 by the Small Business Act. The SBA is dedicated to assisting and supporting small business and entreprenuers. The SBA carries out its mission through a variety of programs including providing financial and federal contract procurement assistance, management assistance, and specialized outreach to women, minorities and armed forces veterans. less -

Franchisors, Take Notes: New Developments and Compliance Process for the 2025 SBA Franchise Director

Fox Rothschild LLP on 6/25/2025

The SBA Franchise Directory is officially back online from June 1, 2025, and with it comes a series of critical updates for franchisors and franchisees discussed in the virtual briefing led by Stephen Olear, Senior Franchise...more

SBA Revives Franchise Directory: Benefits for Franchisors and Franchisees

Fox Rothschild LLP on 6/24/2025

The Small Business Administration (SBA) has revived its Franchise Directory, providing significant benefits for franchise systems and their franchisees seeking financing. The directory returned June 1, 2025, as part of the...more

The SBA Franchise Directory is Back

DLA Piper on 6/19/2025

The US Small Business Administration (SBA) has reinstated its SBA Franchise Directory after a two-year hiatus. Widely hailed as a valuable resource by stakeholders, the SBA Franchise Directory is a list of franchisors...more

SBA Franchise Directory Reinstated: Key 2025 Updates for Franchisors and Franchisees

Offit Kurman on 6/19/2025

The U.S. Small Business Administration reinstated the Small Business Administration (SBA) Franchise Directory on June 1, 2025, reversing the 2023 decision to sunset the program. The Directory has long been the primary...more

SBA Franchise Directory Returns June 2025 with New Certification Rules

Akerman LLP on 5/9/2025

The U.S. Small Business Administration confirmed this week that it will reinstate the SBA Franchise Directory on June 1, 2025, reversing the 2023 decision to sunset the program. The Directory has long been the primary...more

Client Alert: SBA Issues SOP 50 10 8: Key Changes Impacting SBA 7(a) Lending

Whiteford on 5/7/2025

On April 22, 2025, the U.S. Small Business Administration (“SBA”) released Information Notice 5000-866746, announcing the issuance of SOP 50 10 8 (“SOP”) (found here), which introduces significant changes to the SBA 7(a) loan...more

SBA Franchise Directory Reinstated, Easing Loan Access for Franchisees

Foley & Lardner LLP on 5/7/2025

Effective June 1, 2025, the U.S. Small Business Administration (SBA) will reinstate its Franchise Directory, a critical development for franchise systems and franchisees seeking SBA financing. Originally launched in 2018 and...more

Get Ready! SBA Franchise Directory Returning on June 1st

Fox Rothschild LLP on 4/29/2025

A positive development for franchise systems seeking to streamline the SBA loan approval process for their franchisees is coming this summer. The new version of the SBA Loan Origination Policies and Procedures for Lender and...more

What SBA Borrowers Need to Know: Lender Expectations for Corporate and Purchase Documentation

Morris, Manning & Martin, LLP on 2/6/2025

Every loan application requires borrowers to provide a substantial amount of information about the business and its owners. When applying for a loan that is guaranteed by the U.S. Small Business Administration (SBA), you can...more

Current Enforcement Efforts in the Battle Against COVID-19 Loan Program Fraud

J.S. Held on 11/4/2024

The COVID-19 pandemic caused unprecedented impacts around the world including stay-at-home orders, curfews, quarantines, and economic uncertainty. Businesses across the United States were forced to close their doors, limit...more

PPP Loan Audits Could Affect Millions of Borrowers

Husch Blackwell LLP on 4/16/2024

In March 2020 during the height of the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law establishing, among other things, the Payment Protection Program (PPP) administered...more

SBICs – A Tradition (Mostly) Unlike Any Other? April 2024 - Revised SBA Rules Move Cap Call Lending Closer, But Still a Bridge Too...

Cadwalader, Wickersham & Taft LLP on 4/12/2024

When the U.S. Small Business Administration’s (“SBA’s”) revised rules for its Small Business Investment Company (“SBIC”) program went into effect last August, it looked like a greenfield market for capital call financing had...more

SBA unveils enhanced Lender Match tool to connect small businesses with lenders

Orrick, Herrington & Sutcliffe LLP on 3/8/2024

On March 4, the SBA announced the launch of an online tool for small businesses to connect to capital through the SBA’s network of nearly 1,000 approved banks and private lenders. This Lender Match tool was designed to...more

SBA issues new SBLC licenses for the first time in 40 years

Orrick, Herrington & Sutcliffe LLP on 11/6/2023

On November 1, the SBA announced that three new Small Business Lending Company (SBLC) licenses have been issued to lenders focused on underserved markets, which is notably the first expansion of the SBLC program in more than...more

The Rise and Fall of the Paycheck Protection Program

Lippes Mathias LLP on 7/26/2023

The Long-Term Effects Felt by Lenders Nationwide. As a result of the United States government instituting the Paycheck Protection Program (“PPP”), companies nationwide have defaulted on hundreds of thousands of PPP loans,...more

Small Business Lenders Data Reporting Obligations Under Section 1071

Venable LLP on 6/13/2023

The Consumer Financial Protection Bureau ("CFPB" or "Bureau") recently published a Small Entity Compliance Guide (the "Guide") regarding Section 1071 of the Dodd-Frank Act, which amended ECOA to require that financial...more

Supreme Court False Claims Act Ruling May Affect Paycheck Protection Program Lenders

Orrick, Herrington & Sutcliffe LLP on 6/12/2023

On June 1, the Supreme Court ruled that entities that submit false claims to the government can be liable if they subjectively believed the claims were false at the time of submission. ...more

Small Business Administration Guidance Streamlines Process for Loans to ESOPs

Groom Law Group, Chartered on 5/31/2023

In August of 2018, the Main Street Employee Ownership Act (“MSEOA”) became law as part of the John S. McCain National Defense Authorization Act. The intent behind the MSEOA was to promote the establishment of employee stock...more

New Rules Aim to Make SBA Loans More Accessible, Abundant, and Better

DarrowEverett LLP on 5/18/2023

The United States Small Business Administration (“SBA”) oversees two loan programs that are intended to benefit small business owners and promote employment. The programs, known as the 7(a) Loan Program and Section 504 Loan...more

SBA Finalizes Rules Expanding Access to 7(a) Loans

Troutman Pepper Locke on 4/20/2023

On April 12, the U.S. Small Business Administration (SBA) announced that it is ending the moratorium that capped the number of small-business lending companies permitted to participate in its § 7(a) loan program at 14, and...more

Up Next: Lenders May Be the Next Government Focus for PPP Fraud

K&L Gates LLP on 2/17/2023

INTRODUCTION - On 24 January 2023, the Board of Governors of the Federal Reserve System (the FRB) announced it entered into a consent order (Consent Order) with a member bank imposing an approximately US$2.3 million civil...more

House Subcommittee Singles Out Fintech Companies, Government Officials and PPP Lenders for Roles in COVID-19 Related Fraud

Fox Rothschild LLP on 12/19/2022

The House Select Subcommittee on the Coronavirus Crisis, chaired by Rep. James E. Clyburn, released the final report on its investigation into the use and distribution of $5 trillion in federal pandemic-related aid,...more

SBA Plans to Increase Number of Non-Depository Institutions Eligible to Lend in the 7(a) Loan Program; FinTechs to be Included

Buchalter on 11/1/2022

Recent pronouncements by Vice President Harris and by an SBA public affairs specialist indicate that SBA will soon publish a Notice of Proposed Rulemaking (NPRM) that will propose an expansion of the number of non-depository...more

SBA Plan to Open 7(a) Loan Program to Fintechs Moves Closer to Public Release

Venable LLP on 10/11/2022

Non-depository financial institutions - including fintechs and other alternative lenders - may be able to apply for new Small Business Lending Company (SBLC) licenses to participate in the Small Business Administration (SBA)...more

Justice Department Announces First False Claims Act Settlement With PPP Lender and Unveils New COVID-19 Fraud Strike Force Teams

Fox Rothschild LLP on 9/21/2022

The Justice Department has announced the first-ever False Claims Act settlement with a lender to resolve allegations related to processing a Paycheck Protection Program loan on behalf of an ineligible customer. This...more

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Small Business Administration › Lenders

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