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Posts by SBA Attorneys

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…

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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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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…

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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.…

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