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Case Evaluations: How to Maximize Your SBA Lawyer Consultation

Entrepreneurs earn handsome rewards by taking risks. However, those risks don’t always result in success. When this happens, what do you do when you still owe on an SBA-backed loan? If you’re like most business hopefuls, you most likely spent a great amount of time thinking about how your business will succeed. Most entrepreneurs don’t…

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5 Factors to Consider in an SBA Offer in Compromise

Around 20,000 to 25,000 businesses file for bankruptcy annually. But bankruptcy can take a toll on your business and your finances. If you have an SBA loan that you can’t pay, you can apply for an Offer in Compromise to get the financial relief you need. Keep reading to learn what to consider before you…

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Failed SBA PPP & EIDL Loans: What to do?

FAILED SMALL BUSINESSES & LIABILITY FOR SBA PPP LOANS While the U.S. transitions from summer to fall in the wake of the Presidential Election on November 3, 2020 against the backdrop of surging COVID-19 cases, it is very possible that a good chunk of small businesses will eventually close their doors despite having received federal…

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How to Fill Out a Personal Financial Statement in 8 Simple Steps

Wondering how to fill out a personal financial statement? When you’re filling out this document, it’s crucial to understand how to do it correctly. Filling out the document correctly can keep you from having to go back and do it again. In this article, we will give you a step-by-step guide to filling it out.…

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SBA EIDL LOAN FRAUD & ABUSE

The SBA Office of Inspector General (OIG) recently issued an Alert regarding SBA EIDL Loans and the potential warning signs involving COVID-19 fraud and abuse.  This video article is an exact reproduction of the SBA OIG’s Notice of Alert that was published on 7/14/2020. Lender Alert: Economic Injury Disaster Loans The Small Business Administration’s (SBA’s)…

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Are Treasury’s Collection Fees Unreasonable?

Are Treasury’s Collection Fees Unreasonable? When a federal non-tax debt (SBA, HUD, Department of Education or DFAS) is transferred to the U.S Treasury Department’s Bureau of Fiscal Service for collection, the agency automatically adds collection fees up to 32% of the principal amount originally claimed.  Let’s say you defaulted on an SBA loan in the…

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What to expect when you default on your SBA loan?

What to expect when you default on your SBA loan? Failure to Pay: Material Default Small business owners face unprecedented times in this covid-19 economy.  Many businesses have 2 major expenses to service every month: (1) SBA loan and (2) Commercial lease. A material default occurs when the small business is not able to pay…

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Small Business Bankruptcy: A Guide to Chapter 11, Subchapter 5

Congress signed the Small Business Reorganization Act (SRBA) in August 2019, and it went effective in February of this year. One slight detail congress overlooked was the impending COVID-19 pandemic. Small businesses everywhere are now reeling. SRBA may be the boon these businesses need to continue operating. Discover what the new law means for you and…

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