One of the benefits of our eBulletins is being able to educate our clients and other practitioners. And sometimes practitioners educate us.

In a recent bulletin about reviewing franchise agreements for eligibility, we recommended that among other things, lenders must check to ensure that the date on an applicant’s franchise agreement is the same as the version SBA had approved.

We have been advised that SBA no longer has that requirement. Rather, if the franchise is on the SBA’s approved list, the franchise is approved. That should make the franchise review easier for all of us.

Richard Jeffrey
Senior Associate
Head Underwriter