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On Demand

7(a) Loan Closings: 2021 Update Course

1h 30m

Created on March 31, 2021




This is a Partner Course. Lawline has teamed up with this faculty member to produce this premium CLE content. As such, this course is not included in subscription access and must be purchased separately.

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 2021 include: 

  • SOP 50 10 6
  • Changes in CARES Act
  • Changes in Economic Aid Act
  • Changes in Eligible and Ineligible Borrowers
  • ESOPs, Cooperatives, and 401(k) Plans and ROBS
  • Changes in Guarantors
  • Changes in EPC/OC requirements including Passive EPC, Rent and Occupancy
  • Dividing LLCs
  • Confirming Ownership
  • Evidence of Use of Loan Proceeds
  • Title Insurance Policies, Arbitration, and Judgments or Lawsuits
  • Leasing Requirements and Landlord's Waiver/Subordination
  • EIDL Subordinations
  • Changes to Insurance Requirements 
  • Changes to SBA's Environmental Policy
  • Changes for IRS Tax Transcripts
  • Changes for Appraisals
  • Compensation Agreements (SBA Form 159) and SAM Exclusions
  • Franchise Agreements and Management Agreements
  • Scanned Signatures

Learning Objectives:

  1. 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 within two business days.

*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

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