What To Expect During Your SBA Loan Application Process Is this your first time applying for a business loan? Even veteran business people get confused about what to expect from the SBA loan application process sometimes. SBA Loan Application Your business is picking up and you want to expand, upgrade your equipment or move to…Read More
You can stop an administrative wage garnishment by proving: The debt is not enforceable against you The amount of the debt is incorrect An administrative wage garnishment would constitute a financial hardship How Do I Stop An Administrative Wage Garnishment You Must Timely Request A Hearing On An Administrative Wage Garnishment You will receive…Read More
Yes, there is a statute of limitations that applies to defaulted SBA loans. But the government can still collect from you. Statute of limitations for SBA loan The Federal Government is Limited to a 6 Year Statute of Limitations on Defaulted SBA Loans When your business obtains an SBA loan, you sign a personal guarantee,…Read More
Yes, the SBA through the Department of Treasury can garnish your Social Security. But you do have options to stop the garnishment. SBA Social Security Garnishment The SBA Offset If you have defaulted on an SBA loan and you are a personal guarantor, the SBA, through the Department of Treasury, can garnish your Social Security…Read More
The Need To Know Business Terms For A Business Loan Are you ready to apply for a business loan for your company? Review our need to know business terms so you know what you are getting out of your loan. Be mindful of your business loan’s terms and conditions Do you know that a large…Read More
What can happen if an SBA loan obligor omitted or falsified information in the SBA loan application or the SBA Offer in Compromise?
Engaging in fraud may trigger an investigation by the SBA Office of Inspector General and U.S. Department of Justice One of the most concerning factors an SBA debtor needs to be wary of is submitting a “false statement” or making a material “omission” in documents submitted to the SBA. Many problems can occur if false…Read More
Why You Should Not Prepare An SBA Offer In Compromise By Yourself Or Hire A Non-Attorney Company To Help With The Submission Of An SBA OIC
SBA Offer in Compromise Fraud: Why You Should Not Do It Yourself or Hire a Non-Attorney? If you have received either a letter from the SBA lender or CDC calling for a default, electing to accelerate the SBA loan balance and a demand for payment or the Official 60-Day Due Process Notice from the SBA,…Read More
Whether you have defaulted on an SBA loan or have moved on from your business partners but still remain liable for an SBA loan, options exist for eliminating your debt. Your Liability for an SBA Loan If your business obtained an SBA loan, you more than likely signed a personal guarantee. This personal guarantee states…Read More
You discovered that the SBA reported a defaulted loan on your credit report. Read on to learn more about how to dispute your credit report. Dispute Credit Report You Should Review Your Credit Report Annually As part of your annual to do list, obtain a copy of your credit report to check for negative credit…Read More
Financial troubles often arise in small businesses, but the SBA may be able to help. Should you consider small loans? We’ll clarify here. Small Loans One-quarter of all small business owners are unable to access the funding they need to keep their companies afloat. For such entrepreneurs, this is akin to a death sentence for their…Read More
Is your company growing faster than you can financially keep up with? It might be time to consider SBA lending. Check out these signs it’s time to get the loan. 20% of small businesses in America fail in their first year. A critical contributor to this failure is the lack of adequate funding for operations.…Read More
A Guide to Help You Fill Out Your SBA Personal Financial Statement Need help with paperwork? Get your financial ducks in a row with this guide to help you fill out your SBA personal financial statement. SBA Personal Financial Statement It is a myth that the SBA offers loans for entrepreneurs to start or grow…Read More
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