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SBA SOP Changes – Effective January 1, 2018

SBA SOP Changes – Effective January 1, 2018

Effective January 1, 2018, the Small Business Administration (SBA) updated the Standard Operating Procedures SOP 50 10 5 (J) for Lender and Development Loan Programs. In addition to changes incorporated in ERI’s Records Search with Risk Assessment (RSRA) and desktop...

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RSRAs and TSAs – The Similarities and Differences

RSRAs and TSAs – The Similarities and Differences

Depending on the potential risk profile of a commercial property, Environmental Risk Managers realize that a Phase I Environmental Assessment (ESA) may not be necessary for all commercial properties targeted for commercial loans.  In these cases, environmental risk...

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Dry Cleaning Alternatives – How “Green” is Green?

Dry Cleaning Alternatives – How “Green” is Green?

The use of chemical agents for cleaning clothes dates back to the 1690s, when turpentine was used to remove oil and grease spots from clothing.  In the 1800s, mechanical cleaning machines were introduced that used turpentine, camphor oil, kerosene naphtha or white...

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Considering Lending on a Dry Cleaner?

Considering Lending on a Dry Cleaner?

Perchloroethylene (PCE), a chlorinated solvent, has been used in the dry-cleaning industry since the 1930s. A small amount of this “likely human carcinogen” released to the subsurface can impact soil and groundwater, and migration of vapors associated with a release...

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SBA Gas Station Loans

SBA Gas Station Loans

In order to identify and mitigate the environmental risks associated with gas station loans, the U.S. Small Business Administration (SBA) has developed guidelines that loan applicants must follow during the application process. The SBA requires that the Environmental...

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Activity and Use Limitations

Activity and Use Limitations

In many instances, exposure to soil, groundwater contamination and vapor on a commercial property can be limited by federal and state regulatory bodies through “Activity and Use Limitations” or AULs.  Information regarding AULs is typically contained in the...

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Requirements for SBA Lending

Requirements for SBA Lending

The U.S. Small Business Administration (SBA) Standard Operating Procedures, SOP 50 10 5(H), requires environmental assessments on all commercial properties offered as security for a loan.  The level of environmental due diligence required is dependent on the...

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