Business Expansion? SBA Loan Title Report Requirement
According to SBA 7(a) requirements, the Lender must satisfy the following:
– Obtain evidence in the form of title insurance or reports or UCC lien searches that show the Lender obtained the specified lien position against all required collateral
In order to ensure compliance with the above criteria, our title research targets the subject property to include the SBA 7(a) Ownership Report, and the Ownership Encumbrance Report, which checks for any encumbrances such as mortgages, taxes, liens or judgments.
AFX has been successfully providing its clients with nationwide coverage for more than twenty years. This comprehensive approach allows us to research any city, county, and state in the country, as well as Puerto Rico. We are focused on providing clients with the due diligence required to ensure the growth and future success of their business.
NOTE: The deed of trust for your property must be recorded with the county recorder’s office prior to ordering a title search from AFX. The recorded document will then be part of the final report presented to the SBA for funding.