In the realm of environmental risk management, ERI refuses to be confined to the dull stereotypes often associated with the industry. Take a trip down memory lane to the hilarious Hollywood Squares: ERI edition, a five-year-old video that not only showcased the...
On December 15, 2022, the United States Environmental Protection Agency (US EPA) issued the final rule that amended the All Appropriate Inquiries (AAI) Rule to reference ASTM E1527-21 Standard Practice for Environmental Site Assessments: Phase I Environmental Site...
The U.S. Small Business Administration (SBA) has released a new Standard Operating Procedure (SOP) for 7(a) and 504 Loan Programs that will become effective August 1, 2023. The new SOP, referenced as SOP 50 10 7 for Lender and Development Company Loan Programs, will...
In 2017, to meet the needs of ERI’s clients for a rapid, cost-effective environmental review for smaller commercial loans, ERI developed the Environmental Screen. Six years later, due to demand by several clients for an enhanced version of our original...
ERI has revised its SBA Flowchart to reflect the current SBA SOP (SOP 50 10 6, Oct. 1, 2020). If you would like to replace your existing ERI SBA flowchart with an updated version, we will be glad to send you the one below. In addition to providing the level of...
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...
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...
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...
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...