If You Owe More than $30,000 Contact us for a Free Case Evaluation at: (888) 303-6975

Posts by SBA Attorneys

Are SBA Loan Debts Dischargeable in Chapter 7 Bankruptcy?

Are SBA Loan Debts Dischargeable in Chapter 7 Bankruptcy? Video Transcript  The transcript of the video follows below for further review.Are SBA Loan Debts Dischargeable in Chapter 7 Bankruptcy?The short answer to this commonly-asked question is – generally, yes.  But, there are significant risks that SBA business owners, SBA guarantors and SBA obligors should be…

Read More

Understanding the SBA’s Form 148, Unconditional Guarantee, and SBA Form 148L, Unconditional Limited Guarantee

Required Guarantee Agreements and Collateral Documents for participating SBA Lenders originating 7(a) Loans and Certified Development Corporations issuing SBA 504 Loans. Video Transcript  In order to secure SBA guaranteed loans originated by SBA 7(a) Lenders or SBA 504 debenture-guaranteed loans serviced by Certified Development Corporations (CDCS), the SBA issued the Unconditional Guarantee (Form 148) and…

Read More

SBA Offer in Compromise vs. Bankruptcy

SBA Offer in Compromise vs. Bankruptcy If you are liable for an SBA debt due to a breach of an SBA loan agreement or personal guarantee, you may have to consider a couple of resolution options.  Your options may be to explore an SBA Offer in Compromise, a Treasury Department (DOT) Compromise Offer or a…

Read More

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…

Read More

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…

Read More

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…

Read More

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 SBA…

Read More