ROM 10-11 - Notice of Finding and Recommendation on Ineligible Lender-Approved Recovery Act Loans
… SBA agreed that one lender did not obtain an independent business valuation as required by the SOP. Given the small … ($18,000) and the potentially high cost of an independent business valuation, SBA stated that if the lender had … was for the purpose of purchasing the assets of a business owned by the borrower's mother. The lender did not obtain an …