One of the biggest trends in 2018 involving Small Business Administration construction lending, at both national and regional conferences and client events alike, is the resounding feedback from SBA advisory panels on the need for concentration on SOP-appropriate construction monitoring with third-party funds disbursement. Although many lending institutions have a system in place for conventional loans, the SBA specifically references the only blanket alternative to bonding being when “a third party in the business of providing construction risk management services controls the disbursement of proceeds.”
To read the full GlobeSt blog post on how construction risk management tools like funds disbursement and budget review can help secure a successful SBA loan transaction, click here.
November 08, 2023
SBA’s SOP 50 10 7.1: Reinstating Construction Loan Provisions and Key Updates In a welcomed update, the Small Business Administration (SBA) released their new Standard Operating Procedure (SOP) 50 10 7.1 on October 24, 2023, which becomes effective November 15, 2023. This SOP reintroduces the Construction Loan Provisions for 7(a) loans, which were notably absent […]
November 08, 2023
Partner provides this SBA 7(a) Construction Loan Checklist for SBA Loan properties, following the guidelines of SBA’s SOP 50 10 7.1, effective on November 15, 2023. [ Download Here ]
September 06, 2023
Safeguarding Success: Vital Traits of a Construction Risk Management Consultant for LIHTC Syndicators The world of construction risk management consulting is as varied as the clients it serves, each with distinct requirements and expectations. These consultants provide an essential bridge between developers and lenders, offering insights crucial to a project’s success. One client might seek […]
