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SBA Articles

Legal Enforceability of the SBA Note and Personal Guarantee

What defenses are available to challenge the legal enforceability of an SBA Note and Personal Guarantee? When a small business defaults on an SBA loan, the lender or CDC will try to liquidate all pledged collateral to reduce the loan balance.  If liquidation efforts do not fully pay back the loan, the lender or CDC…

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HURRICANE HARVEY AND HURRICANE IRMA: SBA DISASTER LOAN RELIEF

HURRICANE HARVEY AND HURRICANE IRMA: SBA DISASTER LOAN RELIEF Video Transcript In the aftermath of Hurricane Harvey in Houston, Texas and in the wake of Hurricane Harvey that is currently reeking havoc in Florida, the U.S. Small Business Administration (SBA) will eventually play a major role in disaster relief – just like when the SBA…

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Frequently Asked Questions: Administrative Wage Garnishment of SBA Debts

What is Administrative Wage Garnishment? Administrative wage garnishment (AWG) is the ability to divert a percentage of a SBA debtor’s disposable pay without having to go through the court system. The Debt Collection Improvement Act of 1996 provides that the federal government can garnish the wages of any employee to satisfy a delinquent non-tax debt…

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Private Collection Agencies: What You Need to Know

If you’ve borrowed an SBA guaranteed loan and you can’t pay it back you’ll be hearing from a collector contracted with by the Department of Treasury. Read on for what you need to know abut private collection agencies. Debt is a complicated process, whether you’re a small or large business or even an individual. For operations…

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SBA Loan Default: What Happens if You Don’t Pay?

Did you default on a loan given to you by the Small Business Administration? We’re telling you what happens if you don’t pay and what you can do with an SBA loan default. For thousands of small businesses around the country, the Small Business Administration (SBA) is a lifeline, helping them secure loans when no…

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The Three Elements of an Effective SBA Offer in Compromise Strategy

Are you currently struggling with SBA debt? You don’t have to deal with this alone. The following is a guide for an effective SBA offer in compromise strategy. If you’re facing SBA loan default, the best choice you can make is to get help. It can be hard to know what to do in this…

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Recall Your SBA Debt from Treasury Department’s Bureau of Fiscal Service: Learn How

Your small business has failed … The loan has been in default for years … The business has shut down … all business property, equipment, inventory and/or commercial real estate has been been liquidated, foreclosed or repossessed. The originating lender has opted not to file a lawsuit against you on your personal guarantees.  You think…

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Can I Still Request A Hearing On An Administrative Wage Garnishment If The Hearing Request Date Has Passed

If you have incurred an SBA loan default and failed to submit an SBA offer in compromise or your SBA offer in compromise was rejected, you may be subject to an administrative wage garnishment. An administrative wage garnishment consists of a procedure whereby the government can garnish up to 15% of your paycheck. Before the…

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Commentary: Why Hire An Attorney To Prepare and Negotiate Your SBA Offer in Compromise

Small business owners with an SBA 7(a) or SBA 504 loan who signed personal guarantees should hire qualified counsel (an attorney authorized to practice before the SBA or U.S. Treasury Department) when facing an SBA loan default and considering resolution options such as an SBA Offer in Compromise. SBA 7(a) loans are originated by private…

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Bank Officers Charged with SBA Loan Fraud

Financial institution officers and a bank consumer had been charged inside the Chicago area Tuesday with fraud for submitting a false loan application to the SBA (SBA) for nearly $4 million. James Graber and Kristin King, along side Ryan Cole of Garland, Texas, were charged by a federal grand jury in Rockford with wire fraud…

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Case Brief: Discharging Liability on SBA Guarantee

Case Brief: Discharging liability on SBA Guarantee Video Transcript The transcript of the video follows below for further review. CASE BRIEF: An SBA guarantor can be discharged from personal liability under California state U.C.C. law to the extent that the lender or the SBA (as assignee) unjustifiably impairs any collateral pledged as security for the…

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DEPARTMENT OF JUSTICE: SAMPLE COMPLAINT AGAINST PERSONAL GUARANTORS FOR OUTSTANDING SBA DEBT

DEPARTMENT OF JUSTICE: SAMPLE COMPLAINT AGAINST PERSONAL GUARANTORS FOR OUTSTANDING SBA DEBT Video Transcript   The transcript of the video follows below for further review. 31 C.F.R. Part 904 provides the reasons to refer SBA debt cases from Treasury Department’s Bureau of Fiscal Service to the U.S. Department of Justice for collection litigation. Once an…

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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 (888) 303-6975 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 - (888) 303-6975. 

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

If you owe more than $30,000, call our experienced attorneys at (888) 303-6975 anytime for a Free Case Evaluation