SBA senior staff announced that the long-awaited changes to the franchise affiliation process are about to be issued through the release of a new SOP (Standard Operating Procedure).
SBA indicated the SOP will include a one-page addendum that addresses all franchise affiliation requirements.
These changes will lead to:
1. Franchisors having to negotiate with each lender on these issues, putting the burden of SBA affiliation and credit-related SOP issues on franchisors and lenders to solve loan by loan.
2. The SOP is a flexible document. But there are important issues that you need to understand.
Fortunately, we have Edith Wiseman of Frandata to explain how to navigate these new regulatory complexities!