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SBA Articles

$75 Billion in Bank Loans to Small Businesses are exposed to SBA loan default due to the COVID-19 pandemic

For the 3 fiscal years preceding the COVID-19 pandemic, U.S. banks underwrote approximately $75 billion in loans through the SBA’s flagship 7(a) loan program to small businesses. Although the SBA has authorized guarantees up to a certain portion of these loans – somewhere in the ballpark of $25 billion – should small businesses ultimately default…

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Did you know that the U.S. Treasury Department offset almost $4 million from the 9/11 first responders fund?

According to various news reports, it has been discovered that the U.S. Treasury Department has been withholding millions of dollars from first responders treated by the FDNY World Trade Center Health Program through the Treasury Offset Program On the 19th anniversary of the September 11, 2001 terrorist attacks, since two hijacked planes collided with the…

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Failed SBA PPP & EIDL Loans: What to do?

FAILED SMALL BUSINESSES & LIABILITY FOR SBA PPP LOANS While the U.S. transitions from summer to fall in the wake of the Presidential Election on November 3, 2020 against the backdrop of surging COVID-19 cases, it is very possible that a good chunk of small businesses will eventually close their doors despite having received federal…

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SBA EIDL LOAN FRAUD & ABUSE

The SBA Office of Inspector General (OIG) recently issued an Alert regarding SBA EIDL Loans and the potential warning signs involving COVID-19 fraud and abuse.  This video article is an exact reproduction of the SBA OIG’s Notice of Alert that was published on 7/14/2020. Lender Alert: Economic Injury Disaster Loans The Small Business Administration’s (SBA’s)…

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Are Treasury’s Collection Fees Unreasonable?

Are Treasury’s Collection Fees Unreasonable? When a federal non-tax debt (SBA, HUD, Department of Education or DFAS) is transferred to the U.S Treasury Department’s Bureau of Fiscal Service for collection, the agency automatically adds collection fees up to 32% of the principal amount originally claimed.  Let’s say you defaulted on an SBA loan in the…

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What to expect when you default on your SBA loan?

What to expect when you default on your SBA loan? Failure to Pay: Material Default Small business owners face unprecedented times in this covid-19 economy.  Many businesses have 2 major expenses to service every month: (1) SBA loan and (2) Commercial lease. A material default occurs when the small business is not able to pay…

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Small Business Bankruptcy: A Guide to Chapter 11, Subchapter 5

Congress signed the Small Business Reorganization Act (SRBA) in August 2019, and it went effective in February of this year. One slight detail congress overlooked was the impending COVID-19 pandemic. Small businesses everywhere are now reeling. SRBA may be the boon these businesses need to continue operating. Discover what the new law means for you and…

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San Diego Businesses May Take Advantage of New Small Business Reorganization

The rapid deterioration of the American job market (and the world job market) will make it tough on San Diego businesses in the coming months.  The new Chapter 11 Subchapter V bankruptcy may provide an easier solution for small businesses.  A small business reorganization may save your business. A Bleak Employment Picture Employment No matter…

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What Does The New Chapter 11 Subchapter V Mean For Your SBA Loan?

The new part of the bankruptcy code is aimed at making reorganizing small businesses easier, more streamlined, and less costly.  Read on to learn more. The new option for troubled SBA loans How Is Chapter 11 Subchapter V Different? The new Chapter 11 Subchapter V bankruptcy has many differences from a regular Chapter 11.  For…

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How to Defend Against an Administrative Wage Garnishment Notice

Being in debt is never a fun experience, but it is one that most Americans are familiar with. Almost all adult Americans have some form of debt.  Moreover, the type and severity of this debt vary from person to person, but it is a situation that bonds us whether we like it or not. Administrative…

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SBA Relief Efforts for Small Businesses Affected by Coronavirus Pandemic

SBA Help for Coronavirus Outbreak:  SBA Programs Available for Small Businesses as Domino Effect Begins to Unfold within the Next 4-8 Weeks Unfortunately, the Coronavirus (aka COVID-19) has breached our borders so prevention is no longer a viable remedy. Travel blockades and restrictions will not be effective.  Now that the virus is in the U.S.,…

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How to Avoid Defaulting on Your SBA Loan Payment

The U.S. Small Business Association supports businesses with the SBA loan program. The loans don’t come from the SBA directly. They help lending partners reduce their risk, which makes it easier for small businesses to get loans. It’s a way to get the capital you need to start or grow your business. But what happens…

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We are here to help you with your SBA loan problems.

If you owe more than $30,000, call our experienced attorneys at (833) 428-0933 anytime for a Free Case Evaluation

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Helping provide real solutions to individuals who are facing SBA loan problems. Contact one of our experienced SBA Attorneys and Federal Agency Practitioners today for a Free Case Evaluation - (833) 428-0933. 

We are here to help you with your SBA loan problems.

If you owe more than $30,000, call our experienced attorneys at (833) 428-0933 anytime for a Free Case Evaluation