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Posts by SBA Attorneys

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…

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CASE BRIEF: The SBA Guarantor did not waive the 6-year Statute of Limitations Defense when he signed a confession of judgment

CASE BRIEF:  The SBA Guarantor did not waive the 6-year Statute of Limitations Defense when he signed a confession of judgment Video Transcript  The transcript of the video follows below for further review.CASE NAME:  United States on behalf of Small Business Administration v. RichardsonCITATION:  889 F.2d 37 (3d Circuit, Pa. 1989)FACTS: Louis Richardson and his…

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Referral of SBA debts to the U.S. Department of Justice for Litigation

SBA Loan Default Cases: What generally happens when SBA debts are referred to the DoJ for litigation? Video Transcript  The transcript of the video follows below for further review.Once an SBA loan has been delinquent between 120 days (4 months) and 180 days (6 months), the loan is generally referred to the U.S. Treasury Department’s…

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Beware of the Confession of Judgment Clause: SBA loan default cases

Confession of Judgment Clauses in SBA Loan Documents, Repayment Agreements, Stipulations, Forbearance Agreement or other instruments  in connection with SBA loan default cases Video Transcript  The transcript of the video follows below for further review.One of the most powerful weapons that may be incorporated into certain loan documents on an SBA Loan Default Case where…

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SBA OIG Report: Recommends $3.2m in SBA 7a Guarantee Recoveries

SBA Office of Inspector General’s High Risk 7(a) Loan Review Program Recommends $3.2 Million in Recoveries Video Transcript  The transcript of the video follows below for further review.In fiscal year 2014, the Office of Inspector General (OIG) established the High Risk 7(a) Loan Review Program to minimize losses on Small Business Administration (SBA) guaranteed loans,…

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AWG Hearing: Establishing Financial Hardship

Video Transcript  The transcript of the video follows below for further review.The Debt Collection Act of 1982 (DCA) and the Debt Collection Improvement Act of 1996 (DCIA), 31 U.S.C. § 3701, 3711-3702E authorizes the U.S. Small Business Administration (SBA), by and through the Department of Treasury (Financial Management Services n/k/a the Bureau of Fiscal Service…

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