7(a) Loan Closing Course: 2023 Update

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 2023 include: 

• Prior Loss and Delinquent Federal Debt

• Authorization (SBA Guarantee Loan) Version 2018

• Eligibility Determinations

• ESOPs, Cooperatives, 401(k) Plans including ROBS

• Loan Maturities

• Guarantees

• EPC/OC Requirements, including Multiple OCs and Leases

• Changes of Ownership and Confirming Ownership

• Use of Proceeds

• Impact of Recorded Covenants and Restrictions on Collateral

• Title Exceptions

• Title Insurance Policy Endorsements and Condition 13 Arbitration

• Special Case: Judgments, Settlements or Lawsuits

• Leasing

• Life, Flood and Hazard Insurance Updates

• Other Insurances

• Changes to Environmental Requirements

• IRS Forms 4506-C and 8821 and Tax Transcript Updates

• Appraisal and Real Estate Evaluation Updates

• Compensation Agreements (SBA Form 159)

• SBA Franchise Policy and Loan Closings

• Management Agreements

• 7(a) Fee Changes for 2023

• EIDL Subordinations

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 when notified of registrations.

*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.