ROM 10-12 - Notice of Finding and Recommendation on Material Origination and Closing Deficiencies Identified in SBA and Lender-Approved Recovery Act Loans
… cannot exceed $1 .5 million. SOP 50 10 5(a) states that lenders must verify injections prior to disbursing loan … in their loan files. Additionally, it states that lenders are expected to use reasonable and prudent efforts to … of cash injection. CAUSES: In all 4 loans, SBA and lenders did not comply with SBA requirements for loan …