In partnership with Janice E. Garlitz*, this program:

Is accredited for Continuing Legal Education (CLE) credit in the states listed on this page

This program is very useful for attorneys and 7(a) Lender Closing Staff who want the latest information on 7(a) Loan closings. The course covers all changes affecting 504 Loan closings since 2019 as well as advanced topics and tips in handling such closings.

Topics for 2023 include:

Prior Loss and Delinquent Federal Debt
Authorization (SBA Guarantee Loan) Version 2018
Eligibility Determinations
ESOPs, Cooperatives, 401(k) Plans including ROBS
Loan Maturities
Guarantees
EPC/OC Requirements, including Multiple OCs and Leases
Changes of Ownership and Confirming Ownership
Use of Proceeds
Impact of Recorded Covenants and Restrictions on Collateral
Title Exceptions
Title Insurance Policy Endorsements and Condition 13 Arbitration
Special Case: Judgments, Settlements or Lawsuits
Leasing
Life, Flood and Hazard Insurance Updates
Other Insurances
Changes to Environmental Requirements
IRS Forms 4506-C and 8821 and Tax Transcript Updates
Appraisal and Real Estate Evaluation Updates
Compensation Agreements (SBA Form 159)
SBA Franchise Policy and Loan Closings
Management Agreements
7(a) Fee Changes for 2023
EIDL Subordinations

Learning Objectives:

The purpose of the 7(a) Loan Closing Update Course is to update attorneys and 7(a) Lender closing staff on recent changes to the 7(a) Loan Program and statutory, regulatory, and legal developments that affect loan closings

Registrants: Please note that faculty Jan Garlitz will send any materials not attached to this course when notified of registrations.

*This course and all 504 and 7(a) Loan Closing courses were produced with a partner and are not included in any of our unlimited CLE subscriptions.

7(a) Loan Closing Course: 2023 Update

Overview

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