This is a legal form that was released by the U.S. Small Business Administration on July 1, 2000 and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.
Q: What is SBA Form 27B?
A: SBA Form 27B is a document used for obtaining the opinion of independent counsel for a draw against a debenture commitment.
Q: What is the purpose of SBA Form 27B?
A: The purpose of SBA Form 27B is to provide an opinion from independent legal counsel on certain matters related to a draw against a debenture commitment.
Q: What is a draw against a debenture commitment?
A: A draw against a debenture commitment refers to requesting a disbursement of funds from a loan that had been previously committed by the Small Business Administration (SBA) through a debenture.
Q: Who prepares SBA Form 27B?
A: SBA Form 27B is prepared by the borrower or the lender and must be signed by independent legal counsel.
Q: What does the opinion of independent counsel entail?
A: The opinion of independent counsel confirms that certain legal requirements have been met and that the borrower is eligible for the requested draw against the debenture commitment.
Q: Is SBA Form 27B mandatory?
A: Yes, SBA Form 27B is a mandatory requirement for obtaining a draw against a debenture commitment.
Form Details:
Download a fillable version of SBA Form 27B by clicking the link below or browse more documents and templates provided by the U.S. Small Business Administration.