eBulletin Archives
Business Lending Community ‘Must Reads’
We provide an ongoing stream of articles on issues concerning the business lending community.
FROM RICHARD @ JRB … BUYING A BAR: QUESTION ABOUT GUARANTORS … WHAT DO YOU REALLY NEED?
Four guys walked into a bar… This old thing? Really? Of course there's a 504 situation. These guys are buying the bar with three of them owning less than 20%. Personal guarantees not needed, right? It's not that simple!
FROM LORI @ JRB … SBA LOAN PAYMENT RELIEF: GET READY AS THE FIRST BATCH OF PAYMENTS WINDS DOWN
Getting Prepared! Next month, SBA’s six months of loan relief payments under the CARES Act Section 1112 start winding down for loans.
FROM RICHARD @ JRB … CAN 504 LOANS BE USED TO PURCHASE STOCK? BUT OF COURSE. HERE’S HOW!
Even experienced 504 lenders come across situations they haven’t dealt with before. Like this question that came in the other day: Joe Lender. Richard, we have a 504 loan request from a lender who financed [...]
JRB e ALERT! FROM REBECCA @ JRB … NAVIGATING PPP LOAN FORGIVENESS: WHAT’S A LENDER TO DO? CHECK OUT JRB’S NEW INFO TOOL!
Well, here we are. Mid-August and the PPP program closed over the weekend on August 8. It seems we’ve been living with the Paycheck Protection Plan for ages, but it just began in April. Since [...]
JRB WEBINAR COMING UP THIS THURSDAY! CHECK OUT THIS WEEK’S HOT TOPICS: 504 UNDERWRITING REQUIREMENTS IN 50 10 6 … SECTION C: POTPOURRI OF OTHER TOPICS, PLUS CHANGES IN 50 10 6 … DEFERMENTS AND CATCH UP PLANS
JRB 504 Webinar coming up! Hot topics for Thurs. Sept. 24: Lots of SOP 50 10 6 info -- and more! Tune in!!
FROM RICHARD @ JRB … NEED FORM 912? OR 652? ONLY IF YOU’RE HEADED ‘BACK TO THE FUTURE’
I got a question the other day that took me back to the days of sock hops, 45 rpm records, malt shops and Sha-Nah-Nah. Not that I remember them, of course! Put a Nickel in [...]
FROM RICHARD @ JRB … HELEN & TROY: GETTING ORG DOCS @ APPLICATION – OR PUTTING THE CART BEFORE THE HORSE?
Dale hired new lenders for his SBA department, and engaged me to train them. But he wasn’t able to attend any training sessions. So imagine his surprise when the loan officers started asking businesses for [...]
FROM REBECCA @ JRB … IN THE ABSENCE OF GUIDANCE: PROTECTING YOUR GUARANTY WHEN SERVICING PROBLEM LOANS
We’re already seeing businesses start to file for bankruptcy even as SBA’s six-month payments under the CARES Act continue. Other businesses are reaching out to lenders and beginning discussions on additional financing or workouts in [...]
FROM REBECCA @ JRB … MORE & MORE GUIDANCE ON PPP FORGIVENESS APPLICATION AND CALCULATION, YET STILL A MISSING PIECE
As the window for PPP Applications closes, we’re getting more and more guidance on PPP Forgiveness. Since our last eBulletin on June 17, SBA has issued IFR 2020-0037, 2020-0038 and 2020-0039. And as Borrowers from [...]
FROM RICHARD @ JRB … DEFINING ‘SPECIAL PURPOSE’ − MAKING HORSE SENSE OF AN EQUINE VETERINARY LOAN!
Sometimes I get a question that’s nice and short, but requires an extensive answer. Johnny Wayne, a relatively new lending officer, called me the other day with situation just like that. Johnny. Richard, I have [...]
FROM JRB … ASK THE EXPERTS: JUNE 18TH 504 LOAN WEBINAR Q&A
Thanks for asking! From our experts: Here are answers to the top questions from our June 18th 504 Loan Webinar. We’ll post each Q&A here on the JRB News Ticker the week following each Webinar. [...]
JRB 504 WEBINAR COMING UP ON THURSDAY! CHECK OUT THIS WEEK’S HOT TOPICS: HOW MUCH LIFE INSURANCE IS REQUIRED? … COLLATERAL ASSIGNMENTS FOR LIFE INSURANCE … THINGS TO CONSIDER WHEN SERVICING IN UNCERTAIN TIMES
THIS WEEK’S TOPICS Richard: How Much Life Insurance is Required? Jan: Collateral Assignments of Life Insurance Sandy: Things to Consider When Servicing in Uncertain Times Join JRB Senior Associates Sandy Mortan and Richard Jeffrey, and [...]
FROM JRB’S 504 WEBINARS … ASK THE EXPERTS: SANDY, RICHARD AND JAN ANSWER YOUR QUESTIONS
Thanks for asking! Questions from our 504 Webinars came rolling in, so we’re posting the top questions here on our JRB Website News Ticker. We’ll post each Q&A early in the week following each JRB [...]
FROM LORI @ JRB … PPP 1502 REPORTING: AFTER THE FIRST WAVE … THE NEXT WAVE IS COMING FAST!
So the first wave of 1502 reporting is over. SBA Procedural Notice 5000-20028 was effective May 21, 2020, and required the initial Paycheck Protection Program 1502 Report to be submitted by May 29, 2020. Deadline [...]
JRB 504 WEBINAR COMING UP THIS THURSDAY!! HOT TOPICS: OUR TAKE ON COVID-19 INDUSTRY IMPACT – AND MORE
TUNE IN @ I P.M. EASTERN/10 A.M. PACIFIC THIS WEEK’S HOT TOPICS Analyzing the Impact of COVID-19 Richard Jeffrey No Adverse Change Findings in COVID-19 Emergency Janice Garlitz, P.C. Important Reminders Sandy Mortan Join JRB [...]
FROM RICHARD @ JRB … 504 WEBINAR Q& A: DEBT REFI WITHOUT EXPANSION LOAN. SBA EXCEPTIONS POSSIBLE?
JRB’s 504 Webinar Series. Wow. Guess we’ve got a hit on our hands. We’re excited at the positive response to Session #1 of our 504 Webinar Series addressing important issues in our industry. More than [...]
FROM REBECCA @ JRB … ‘IN THE ABSENCE OF GUIDANCE’ ROUND 2: LOAN FORGIVENESS APPLICATION FORM
“They also serve who only stand and wait.” Sonnet 19: John Milton Well, SBA/Treasury issued the long-awaited – and some would say overdue − Paycheck Protection Program Loan Forgiveness Application Form 3508 on Friday, May [...]
JRB e ALERT! WE’RE EXCITED TO LAUNCH JRB’s 504 WEBINARS!!
JRB Senior Associates Sandy Mortan and Richard Jeffrey, and SBA 504 industry expert Janice Garlitz, P.C., all well known for their longtime industry leadership and broad-based SBA lending expertise, are conducting a series of JRB [...]
FROM RICHARD @ JRB … GETTING ON WITH IT … 504 FOR REAL ESTATE & STOCK PURCHASES: SLICING UP AN ‘AMERICAN PIE’
Here’s an interesting case. What else is new? Almost everything that comes across my email is interesting. I got a call the other day from Jack. He’s a new loan officer with a new client. [...]
FROM REBECCA @ JRB … ‘IN THE ABSENCE OF GUIDANCE’ ROUND 2: ANSWERING YOUR PPP QUESTIONS
Over the past few weeks, we’ve been fielding questions from many of you about Paycheck Protection Program eligibility, closing and funding. Now that Round 2 of the funding phase is well underway, many of you [...]
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