News & Analysis as of August 17, 2025

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 -

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

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

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

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

The Lender’s Role in the PPP Loan Review Process - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review...

Schwabe, Williamson & Wyatt PC on 2/28/2022

Updated February 24, 2022 - Update: On January 27, 2022, the Small Business Administration (“SBA”) issued SBA Procedural Notice 5000-82766, SBA Loan Reviews of Paycheck Protection Program Lender Partial Approval...more

False Claims Act Case Tracker for Paycheck Protection Program Fraud - Update

Dorsey & Whitney LLP on 10/1/2021

In the Spring of 2020, the Small Business Association (“SBA”) began administering the Paycheck Protection Program (the “PPP” or the “Program”) to provide SBA-backed loans to help eligible businesses maintain their workforces...more

Revised PPP Loan Forgiveness Applications and Guidance - Update #4

Schwabe, Williamson & Wyatt PC on 6/1/2021

Below are 10 important things to know about the Paycheck Protection Program (“PPP”) Loan Forgiveness ‎Applications and the detailed instructions for the revised and updated applications posted on May 24, 2021, ‎as well as...more

Five Things to Know About PPP Loan Audits

Bowditch & Dewey on 4/21/2021

The Paycheck Protection Program was one of the more innovative and written-about of the CARES Act’s fiscal stimulus packages. The U.S. Treasury and Small Business Administration (SBA) leveraged the private banking sector to...more

Paycheck Protection Program: FAQs For Nonprofits -UPDATED April 2021 #1

Lowenstein Sandler LLP on 4/9/2021

On December 27, the President signed into law the Consolidated Appropriations Act, 2021. The Act includes a roughly $900 billion COVID-19 relief package, known as the “Economic Aid to Hard-Hit Small Businesses, Nonprofits and...more

Applying for PPP Loan Before March 31st Deadline

Jackson Walker on 3/18/2021

Time is of the essence for businesses to apply for relief from the Paycheck Protection Program. Jackson Walker finance partners Lindsey Berwick and John Wittenberg join hosts Art Cavazos and Daniel Maldonado to discuss the...more

New PPP Funding Hits the Streets – A Primer on What Businesses Should Know

Bowditch & Dewey on 2/23/2021

Struggling businesses adversely impacted by the COVID-19 pandemic now have access to a second round of Paycheck Protection Program (“PPP”) stimulus funding enacted as part of the Economic Aid to Hard Hit Small Businesses,...more

HUB Talks: Voluntary Disclosure: Deep Dive - They Know What You Did Last Summer—Phase 1 of the U.S. Government's Response to the...

K&L Gates LLP on 2/23/2021

In this first episode of our series on the government's response to the Paycheck Protection Program, white collar practitioners Chris Nasson, David Rybicki, Neil Smith, and Hayley Trahan-Liptak provide an overview of the...more

Economic Aid Act: 10 Things to Know about Second Draw PPP Loans - Update #2

Schwabe, Williamson & Wyatt PC on 2/19/2021

Treasury released an Interim Final Rule called “Business Loan Program Temporary Changes; Paycheck Protection Second Draw Loans” (“Second Draw Rules”). These rules announced the implementation of section 311 of the Economic...more

Lender Obligations Under the Revived Paycheck Protection Program

Hinshaw & Culbertson LLP on 2/17/2021

On December 28, 2020, former President Trump signed the Consolidated Appropriations Act. Over 5,000 pages in length, the Act included revisions and additions to the Paycheck Protection Program (PPP). The new PPP will: (1)...more

[Webinar] What to know about PPP loan forgiveness - February 18th, 1:00 pm CT

McGlinchey Stafford on 2/11/2021

You certified your eligibility for the PPP (Paycheck Protection Program), calculated the amount of your loan, and submitted your application. Your loan was approved and funded, and you used the loan proceeds for allowable...more

PPP Loans $2 Million and Up and the PPP Necessity Questionnaires

Schwabe, Williamson & Wyatt PC on 2/2/2021

Starting around October 26, 2020, the Small Business Administrations (the “SBA”) asked Paycheck Protection Program (“PPP”) lenders to provide certain questionnaires to PPP borrowers with loans of $2 million or greater. There...more

The Lender’s Role in the PPP Loan Review Process - After the Economic Aid Act: An Updated Guide to the PPP Loan Forgiveness Review...

Schwabe, Williamson & Wyatt PC on 1/27/2021

Lenders play a large role in the Paycheck Protection Program (“PPP”) loan forgiveness review and appeals process. The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the “Economic Aid Act” or “PPP2...more

Initial Takeaways and Agency Guidance for the Latest PPP Updates - After the Economic Aid Act: An Updated Guide to the PPP Loan...

Schwabe, Williamson & Wyatt PC on 1/27/2021

On January 19, 2021, the Small Business Administration (the “SBA”) in consultation with the Department of Treasury (“Treasury”) posted new forgiveness application forms and the Interim Final Rule on Loan Forgiveness...more

Paycheck Protection Program: SBA Issues Guidance on First Draw and Second Draw PPP Loans and Releases PPP Applications Pursuant to...

Sheppard Mullin Richter & Hampton LLP on 1/21/2021

On January 6, 2020, the SBA published its 26th Interim Final Rule (the First Draw PPP IFR) and 27th Interim Final Rule (the Second Draw PPP IFR)[1] with respect to the Paycheck Protection Program (PPP), as reauthorized and...more

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