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# SBA Loans & Transactional Law

## Sitemaps
[XML Sitemap](https://fogellawgroup.com/sitemap_index.xml): Includes all crawlable and indexable pages.

## Posts
- [The Closing of an SBA 504 Loan (Part 2)](https://fogellawgroup.com/the-closing-of-an-sba-504-loan-part-2/): The July 2020 version of THE FOCUS, The Closing of an SBA 504 Loan (Part 1), covered some very important elements and considerations regarding how to prepare for and close an SBA 504 loan. That article discussed several of the most important parts of the pre-closing and closing process concerning the Term Loan and the Interim Loan, as well as the SBA 504 loan.
- [USDA Loans and the CARES Act](https://fogellawgroup.com/usda-loans-and-the-cares-act/): The August 2020 edition of the Fogel Law Group FOCUS provides some insight into the government-guaranteed loan program operated by the United States Department of Agriculture (“USDA”). Known as Business and Industry Loans, or B&I Loans, these USDA Loans (“USDA Loans”) are credit facilities that are available to small businesses, non-profits, cooperatives, and other eligible entities operating in rural areas throughout the United States. Like other government lending programs, USDA Loans are guaranteed in part, the USDA providing the loan guaranty. The primary focus of the USDA Loan program is to encourage the development of small businesses and creation of jobs in lesser-developed communities. USDA Loans can be utilized for a variety of purposes, such as business modernization, debt refinance, permanent working capital, construction of industrial or manufacturing facilities, commercial real estate acquisitions and improvements, and even business acquisitions if the end result will save or create jobs within the affected community. And, like most government loan programs, the USDA provides significant requirements regarding eligibility matters and use of USDA Loan funds.
- [The Closing of an SBA 504 Loan (Part 1)](https://fogellawgroup.com/the-closing-of-an-sba-504-loan-part-1/): Congratulations! The Lender and the Certified Development Corporation (“CDC”) have approved your SBA 504 Loan! With the assistance of the Lender and the CDC, you have navigated your way through the application process, answered many questions, provided all of the required documentation, and you have now received an approval for your 504 loan.
- [The Rules For PPP Loan Forgiveness Have Changed…Again](https://fogellawgroup.com/the-rules-for-ppp-loan-forgiveness-have-changedagain/): On June 5, 2020, President Trump signed the Paycheck Protection Program Flexibility Act (“PPPFA”) into law. This bipartisan legislation addresses many concerns that have arisen in the small business community regarding the Paycheck Protection Program (“PPP”) created under the Coronavirus, Aid, Relief, and Economic Security Act (“CARES Act”); changes several of the key PPP loan terms to be more consumer friendly; and provides additional flexibility to borrowers and lenders in the application of their PPP loan proceeds.
- [Closings in the Age of COVID-19…and Beyond: Meet RON.](https://fogellawgroup.com/closings-in-the-age-of-covid-19and-beyond-meet-ron/): The COVID-19 pandemic is speeding up the revolution in how real estate and loan closings are conducted. Even before social distancing and shelter-in-place became common words in our vocabulary, the federal government and many states recognized the public’s need and desire for electronic signatures in lieu of wet signatures and face-to-face meetings and enacted legislation to authorize electronic signatures and remote notarization on legal documents. The arrival of COVID-19 has made the implementation of these solutions critical.
- [Congratulations, you just received your PPP Loan. Now what?](https://fogellawgroup.com/congratulations-you-just-received-your-ppp-loan-now-what/): Well, first you need to start using those PPP loan funds for the purposes they are intended and permitted under the CARES Act (“Act”), Pub. L. 116-136. According to the Act, PPP loan proceeds are to be used for only the following purposes:
- [SBA’s Change of Ownership Requirements](https://fogellawgroup.com/sbas-change-of-ownership-requirements/): The SBA provides very specific Change of Ownership Requirements, which can be found in revised SOP 50 10 5(J), effective January 1, 2018.
- [SOP 50 10 5 (I) – Updated Equity Injection Requirements](https://fogellawgroup.com/sop-50-10-5-i-updated-equity-injection-requirements/): Announced on October 16, 2017, and effective January 1, 2018, the Small Business Administration (“SBA”) has issued a newly amended Standard Operating Procedure (“SOP”), known as 50 10 5 (J), which includes substantive changes to the SBA’s equity injection requirements for applicants financing start-up businesses and/or changes of ownership.  Specifically, SOP 50-10 5(J) provides (see Page 174):
- [Business Acquisition Considerations](https://fogellawgroup.com/business-acquisition-considerations/): Buying a business often involves the simultaneous closing of three separate but closely related transactions:  (1) the purchase of the business, (2) the financing of the acquisition, and (3) the business management and ownership agreement among the co-owners/co-purchasers.  While many entrepreneurs know how to operate a business, many also need assistance in handling any or all of these matters.  What happens during each of these transactions will have a direct effect upon the success, perhaps even the ability to survive, of the business being purchased. 
- [How to Structure SBA 7(a) and 504 Loan Short Sales](https://fogellawgroup.com/how-to-structure-sba-7a-and-504-loan-short-sales/): Please click on the link below to view the Powerpoint presentation prepared by Mitchell C. Fogel for a recent Webinar he did with Coleman Publishing that presented How to Structure SBA 7(a) and 504 Loan Short Sales.  Regarding commercial short sales, this Webinar provided information on the short sale process in general, addressed specific issues and challenges in handling and closing short sales, and discussed concerns and rules involving a short sale of a loan made under the SBA 7(a) or 504 loan programs, all in compliance with:
- [5 Tips to Accelerate the Liquidation of the 1st Loan in an SBA 504 Loan](https://fogellawgroup.com/5-tips-to-accelerate-the-liquidation-of-the-1st-loan-in-an-sba-504-loan/): Please click on the link below to view the Powerpoint presentation prepared by Mitchell C. Fogel for a recent Webinar he did with Coleman Publishing that presented 5 Tips to Accelerate the Liquidation of the 1st Loan in an SBA 504 Loan.  This Webinar provided tips and suggestions on how the Third Party Lender, a loan servicer or liquidator, and/or an attorney, in regard to the Third Party Lender’s 1st loan in an SBA 504 loan transaction, can proceed to best handle the liquidation of the Third Party Lender’s 1st loan, all in compliance with:
- [Due Diligence Tips for SBA Lenders: 504 Loans](https://fogellawgroup.com/due-diligence-tips-for-sba-lenders-504-loans/): Due diligence requirements and efforts on SBA 504 loans are similar to those used when financing SBA 7(a) and non-SBA commercial loans.  For example, prior to the closing, among other matters, the Lender must ensure that all required insurance is in place; the borrowing and, if applicable, guarantying entities are all properly organized; and that no intervening liens exist concerning Lender’s priority on the collateral for the loan.   Frequently, Lender’s legal counsel is involved in handling many of these due diligence efforts on Lender’s behalf.   When participating in an SBA 504 Loan project, however, there are several additional areas that require following a different practice. 
- [The Top Ten Things a Lender’s Counsel Thinks AboutRegarding a Commercial Real Estate Transaction](https://fogellawgroup.com/the-top-ten-things-a-lenders-counsel-thinks-aboutregarding-a-commercial-real-estate-transaction/): (or Insights for the Broker in Getting the Deal Closed)
- [Recent Changes in the SBA 504 Debt Refinance Program](https://fogellawgroup.com/recent-changes-in-the-sba-504-debt-refinance-program/): On October 12, 2011, the SBA published its final regulations for the 504 temporary debt refinancing program. These final regulations incorporate a number of very important modifications.  Those involved in the industry believe that these changes will make the program much more accessible for small businesses and also more attractive for participating lenders. The major changes include:

## Pages
- [Ellen Schechter](https://fogellawgroup.com/ellen-schechter/): Attorney
- [Tian Chan](https://fogellawgroup.com/tian-chan/): Attorney
- [Matthew Guarnaccia](https://fogellawgroup.com/matthew-guarnaccia/): Attorney
- [Andrew Tibavisky](https://fogellawgroup.com/andrew-tibavisky/): Attorney
- [Alexander Tibavisky](https://fogellawgroup.com/alexander-tibavisky/): Attorney
- [Partners](https://fogellawgroup.com/partners/): President, Founder
- [Matthew Greenberg](https://fogellawgroup.com/matthew-greenberg/): Partner, Attorney
- [Max Holzbaur](https://fogellawgroup.com/max-holzbaur/): Partner
- [Mitchell C. Fogel](https://fogellawgroup.com/mitchell-c-fogel/): President, Founder
- [Entertainment Law](https://fogellawgroup.com/other-practice-areas/entertainment-law/): In the area of entertainment law, the Firm represents talent such as recording artists, authors, artists and painters, television and radio personalities, and celebrities, as well as talent managers and agents, with the many legal issues that such parties encounter in negotiating and performing under contracts and in ensuring that their intellectual property rights are protected.  FLG also represents nightclubs and bars in connection with their legal matters concerning live and recorded entertainment, and liquor license issues.
- [Business Disputes and Litigation](https://fogellawgroup.com/other-practice-areas/business-disputes-and-litigation/): It is not uncommon today for a loan, real estate or business transaction, no matter the original intentions of the parties, to devolve into a dispute or disagreement. Consequently, the Firm is often called upon to assist in the resolution of such matters and, when circumstances require, to provide  settlement negotiation counsel and, if deemed necessary, litigation services.
- [Franchise & Dealership Law](https://fogellawgroup.com/other-practice-areas/franchise-dealership-law/): The Firm handles legal matters for both franchisor and franchisee clients, as well as for parties entering into dealership or licensing relationships. Our representation includes the negotiation of franchise and dealership agreements, representation concerning lease and licensing contracts and matters, and counsel regarding entity formation and operation issues.
- [Corporate and Business Law](https://fogellawgroup.com/other-practice-areas/corporate-and-business-law/): The Firm’s attorneys serve as trusted advisors and provide a full range of representation and counsel to its corporate and business clients, including entity selection and formation as well as day-to-day business operational issues.
- [Residential Real Estate](https://fogellawgroup.com/other-practice-areas/residential-real-estate/): A home is often the most significant purchase most individuals make in their lifetime.  Although one of life’s most rewarding experiences, it can also be a stressful process that often involves complicated legal issues and potential risks for both buyers and sellers.
- [Commercial Real Estate](https://fogellawgroup.com/other-practice-areas/commercial-real-estate/): Commercial real estate is one of the most complex, challenging and evolving areas of law.  Each situation is truly unique, with its own risks and traps that, if not handled properly, may lead to an unintended and adverse result for the client.  That is why it is critical for the client……whether buyer or seller, landlord or tenant, or in any other capacity…….to select an experienced, skilled and creative attorney to assist with the transaction.  And it is best to engage such counsel as early in the transaction as possible.
- [Banking and Finance](https://fogellawgroup.com/other-practice-areas/banking-and-finance/): 30+ years of experience. Thousands of loans closed. Experienced and Designated SBA 504 Closing Counsel. We handle all types of government-guaranteed lending transactions, including SBA 7(a), SBA 504, Import-Export, and USDA financing, nationwide. Our SBA designations and high-volume closing experience sets us apart, giving lenders full confidence in FLG's loan closing compliance and process. We stay at the forefront through active involvement with NAGGL, NADCO, FLAGGL, and other national organizations, thus ensuring that our clients will benefit from the latest SBA policies and best practices.
- [Here to Help](https://fogellawgroup.com/here-to-help/): At Fogel Law Group, it is our mission to listen, understand, and act to provide our clients with trusted counsel, guidance, and valued services that meet the highest legal standards.
- [Our Support Staff](https://fogellawgroup.com/our-support-staff/): Our Staff Expert Staff at Fogel Law Group Looking for help? Contact Us Now! 561-393-9111 Jackie@fogellawgroup.com Subscribe to Our Newsletter
- [Our Attorneys](https://fogellawgroup.com/our-attorneys/): President, Founder
- [Frequently Asked Questions: SBA Loans](https://fogellawgroup.com/faqs/): HERE ARE SOME FREQUENTLY ASKED QUESTIONS AND CORRESPONDING GENERAL ANSWERS REGARDING SBA 7(A) AND 504 LOANS.  AS SBA LENDING IS A VERY BROAD AND DYNAMIC INDUSTRY – WITH STATUES, REGULATIONS AND POLICIES OFTEN CHANGING – THE FIRM RECOMMENDS THAT YOU CHECK WITH A LENDER OR WITH LEGAL COUNSEL EXPERIENCED WITH SBA LENDING FOR THE MOST CURRENT INFORMATION ON SBA LOANS AND LENDING LAWS, RULES AND POLICIES.  ALSO, YOU CAN VISIT WWW.SBA.GOV FOR MORE INFORMATION.
- [Blogs](https://fogellawgroup.com/blogs/)
- [Giving Back](https://fogellawgroup.com/giving-back/): At Fogel Law Group, our mission extends beyond legal excellence. We are passionate about fueling the next generation by supporting causes that empower students, strengthen families, and create opportunity. Giving back is part of who we are, and we are proud to invest in programs that change lives.
- [Our Firm](https://fogellawgroup.com/our-firm/): Fogel Law Group was founded in 1991 by Mitchell C. Fogel to answer the demand for a law firm designed around and for the needs of today’s clients: smart, multi-tasking, creative people who rely on their legal counsel for quick, resourceful, reliable and valuable legal representation.
- [News & Resources](https://fogellawgroup.com/news-resources/): The July 2020 version of THE FOCUS, The Closing of an SBA 504 Loan…
- [Other Practice Areas](https://fogellawgroup.com/other-practice-areas/): President, Founder
- [SBA & Other Loan Programs](https://fogellawgroup.com/sba-other-loan-programs/): The 7(a) Loan Program, SBA’s primary business loan program, provides loan guaranties to lenders that allow them to provide financial help for small businesses with special requirements. 7(a) loans can be used for many different purposes, as described elsewhere on this page.
- [Contact](https://fogellawgroup.com/contact/): Ready to get started? Reach out to our team today to discuss your legal needs. We’re here to provide answers and guide you every step of the way.
- [Home](https://fogellawgroup.com/): The Gold Standard in SBA Lending Law – Built to Protect the Guarantee.
- [Privacy Policy](https://fogellawgroup.com/privacy-policy/): Fogel Law Group Privacy Policy

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- [Footer](https://fogellawgroup.com/?elementskit_template=commercial-real-estate): Menu
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## Members
- [Donna Vreeland](https://fogellawgroup.com/flg-members/donna-vreeland/)
- [Tian Chan](https://fogellawgroup.com/flg-members/tian-chan/)
- [Ruth  Walters](https://fogellawgroup.com/flg-members/ruth-walters/)
- [Melissa Sanchez](https://fogellawgroup.com/flg-members/melissa-sanchez/)
- [Matthew  Guarnaccia](https://fogellawgroup.com/flg-members/matthew-guarnaccia/)
- [Lauren Williams](https://fogellawgroup.com/flg-members/lauren-williams/)
- [Kara Paniccia](https://fogellawgroup.com/flg-members/kara-paniccia/)
- [Debra Fogel](https://fogellawgroup.com/flg-members/debi-fogel/)
- [Anna Vazeos](https://fogellawgroup.com/flg-members/anna-vazeos/)
- [Alysson Duvio](https://fogellawgroup.com/flg-members/alysson-duvio/)
- [ALEXANDER TIBAVISKY](https://fogellawgroup.com/flg-members/alexander-tibavisky/)
- [Lauren Monte](https://fogellawgroup.com/flg-members/lauren-monte/): Lauren was born in Nicaragua, and raised in Miami, Florida.  Lauren began her career in the real estate industry in 2001, first as a closing processor, then worked as a Senior Legal Assistant, where her responsibilities included assisting attorneys in all aspects of commercial, residential, and construction real estate transactions from contracts and loan commitments. She also assisted attorneys in all aspects of lender’s representation from drafting construction, commercial and residential loan documentation, closing documents and review and approval of company structure.  Lauren joined Fogel Law Group in February 2020 as a Legal Assistant, operating out of the firm’s Miami-Dade office in Coral Gables, where her primary area involves SBA 7(a) loan closings, commercial real estate transactions, and residential real estate matters.  Lauren currently lives in Coral Gables with her husband and Bruno, their rescued Boston Terrier.
- [Kayla Markovich](https://fogellawgroup.com/flg-members/kayla-markovich/): Kayla born in North Carolina and raised in Indiana. After graduating from high school, she moved to Boca Raton, Florida where she attended Palm Beach State College and received the Associate of Science Paralegal Degree in 2014.  Kayla joined the Fogel Law Group in November 2019 as a Legal Assistant, where she handles various types of transactions including commercial real estate closings, title insurance matters, business opportunities, and SBA 7(a) and 504 loan closings.
- [Michelle Marchese](https://fogellawgroup.com/flg-members/michelle-marchese/): Michelle was born in Coral Gables, Florida, and raised in West Palm Beach.  Michelle began her career in the banking industry in 1985 at First Federal of the Palm Beaches, first as a teller, then worked as a loan processor at Fidelity Federal.  In 2007, Michelle moved to Florida First Capital Finance Corporation (FFCFC), where her responsibilities included coordination of SBA 504 closings, pre-closing loan processing, 504 loan debenture submissions, working with FFCFC’s closing counsel on pre- and post-closing matters, and assisting the Closing Manager with day-to-day responsibilities.
- [Megan Staples](https://fogellawgroup.com/flg-members/megan-staples/): Megan was born and raised in Jacksonville, FL and attended the University of Florida where she received a Bachelor’s Degree in Ecology.
- [Jacqueline Washington](https://fogellawgroup.com/flg-members/jacqueline-washington/): Jackie was born in Warsaw, Virginia and attended the University of Maryland, where she majored in Business Administration.   In 2005, Jackie and her family moved to Boca Raton, Florida, where she now resides.
- [Michael Tabachnick](https://fogellawgroup.com/flg-members/michael-tabachnick/): Mike was born in New York, New York and relocated shortly thereafter with his family to Tamarac, Florida. Upon graduating from high school, he attended the Florida Culinary Institute and received an Associates Degree in Culinary Arts. He then attended Broward Community College for two years before transferring to Florida Atlantic University, where he received a Bachelor’s Degree in Marketing.
- [Matthew Greenberg](https://fogellawgroup.com/flg-members/matthew-greenberg/): Matt joined the Firm in September, 2016, opening Fogel Law Group’s Orlando office, and has been a licensed attorney in Florida since 2012. Prior to joining the Firm, Matt practiced in Orlando, originally as a defense litigator focusing on insurance defense matters including first and third party property and automobile cases, as well as commercial litigation, and later as General Counsel for a nationwide commercial lender specializing in SBA 504 loans.
- [Max Holzbaur](https://fogellawgroup.com/flg-members/max-holzbaur/): Max joined the Firm in May 2015 and has been a licensed attorney in Florida since 2013.  Prior to joining the Firm, Max practiced in Miami, concentrating in real estate transactions, corporate and business law, and business litigation.
- [Ellen Schechter](https://fogellawgroup.com/flg-members/ellen-schechter/): Ellen Schechter joined the Firm in January 2006 following ten years as a sole practitioner in Boca Raton, Florida. Ellen concentrated her practice on residential real estate matters, title insurance, corporate law and business transactions, including entity formation. Prior to forming her own firm, Ellen established the legal department and served as Director of Legal Affairs for a national long distance telecommunications company.
- [Mitchell C. Fogel](https://fogellawgroup.com/flg-members/mitchell-c-fogel/): Mitchell C. Fogel is the Principal and Founder of The Fogel Law Group in Boca Raton, FL.  He has been a licensed attorney in Florida since 1987, and formed his own law firm in 1991.  Through his multiple practice areas, Mitch has developed expertise representing buyers, sellers, landlords, tenants, lenders and borrowers, among many varied clients.  Because of his extensive and diverse experience, Mitch’s clients seek and rely on his legal counsel regarding their commercial and residential real estate deals; title insurance matters; lending and banking transactions; leasing deals; hotel, resturant and hospitality transactions; and business and corporate opportunities and affairs.