Need and speed can be a dangerous combination. Just ask Peter “Maverick” Mitchell. That’s a lesson that lenders and borrowers are discovering with CARES Act Payroll Protection Program (PPP)
Continue Reading A Rough Roll-Out for Payroll Protection Loans
SBA
(Some) Good News: SBA Guidance Mostly Exempts Franchises from Affiliation Rules for Paycheck Protection Act Loans
On April 3, 2020, banks commenced taking applications for the Small Business Administration’s (“SBA”), Paycheck Protection Program (the “PPP”) loans, as provided in the Coronavirus Aid, Relief, and Economic …
Continue Reading (Some) Good News: SBA Guidance Mostly Exempts Franchises from Affiliation Rules for Paycheck Protection Act Loans
The CARES Act and Small Business Administration Loans
There’s a big insurance company that uses the tag line: Life Comes at You Fast. I sure feel that life is coming at me very fast in this Brave New…
Continue Reading The CARES Act and Small Business Administration Loans
Are You Aware of the Recent Revisions to the SBA Loan Process for Franchised Businesses?
Many franchisors have experience with the U.S. Small Business Association (“SBA”) as numerous franchisees utilize the SBA’s loan programs for small businesses. Previously, franchisors could send an application to the…
Continue Reading Are You Aware of the Recent Revisions to the SBA Loan Process for Franchised Businesses?
Making SBA loans safer for franchisees…by mandating FPR’s?
Each time franchisors update their franchise disclosure documents (“FDD”), they have a choice: whether or not to include financial performance representations (“FPR”). A new bill introduced by Representative Keith Ellison …
Continue Reading Making SBA loans safer for franchisees…by mandating FPR’s?
2012 Annual SBA Loan Volume Second Highest Ever
The US Small Business Administration (SBA) has announced that their loan programs have posted the second largest dollar volume ever in fiscal year 2012, such programs supporting $30.25 billion in…
Continue Reading 2012 Annual SBA Loan Volume Second Highest Ever
Experts: Lending Market for Franchising Improving But Still Not All the Way Back
I recently attended a Meet the Lender’s Networking Reception hosted by the recently launched Philadelphia Chapter of the International Franchise Association’s Women’s Franchise Network
The reception was designed to…
Continue Reading Experts: Lending Market for Franchising Improving But Still Not All the Way Back