If you Owe more than $30,000 contact us for a case evaluation at 888-756-9969
contact us for a free case evaluation at (833) 428-0937
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Congress Not Impressed with New SBA Program

We will analyze your SBA loan problems and advise you on potential solutions such as an SBA offer in compromise for your SBA loan default.

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Congress Not Impressed with New SBA Program

We provide individuals who are facing an SBA loan default with solutions. We will analyze your SBA loan problems and advise you on potential solutions such as an SBA offer in compromise.

Dealing with the idea that you might be facing an SBA loan default can be terrifying. The SBA attorneys in our office are skilled at helping clients understand all the facets of their situation. We will advise you as to the potential for an SBA offer in compromise. You should never face your SBA loan problems alone. It is important to retain the services of an attorney who can help you through this difficult time in your life. Please contact us for a free initial consultation.

The SBA has approached Congress for funding another program. However, the Congressional committee reviewing the proposed program is not impressed. In fact, the committee is of the opinion that the SBA should start implementing the programs they are already supposed to and to do it better. Essentially, the message is that the SBA has to start doing the old things better before it can move on to the new ones. Read more about the committee reaction here

If you have defaulted on an SBA loan contact us for a evaluation to determine if you can settle your debt at 1-888-756-9969.  Or fill out your information  below and we will contact you to explore your settlement options. 

SBA OIC Pre-Qualifier

Please complete & submit this form to see if you pre-qualify for an SBA Offer in Compromise.

  • NameFirstLast
  • Email*
  • Phone*
  • Is your SBA loan currently or about to be in default?
  • Yes
  • No
  • Have you received the 60 day referral letter to the Department of Treasury from the SBA?
  • Yes
  • No
  • Basic Info
  • Enter information about your location, household and amount of the outstanding SBA loan debt
  • ZIP or postal code
  • State
  • County
  • Total members of household
  • Total members of household 65 years or older
  • Total SBA debt (whole dollars)
  • When was the last payment you made on the SBA loan?
  • Assets
  • Enter information about your assets (in whole dollars). Your equity is the value of your asset minus what you still owe on the asset.
  • Total bank balances(checking, savings, money market, CDs, etc.)
  • Home market value
  • Home loan balance
  • Vehicle 1 equity(equity is the sum of the fair market value minus any loans/debts on the asset)
  • Vehicle 2 equity(equity is the sum of the fair market value minus any loans/debts on the asset)
  • Retirement account equity (401k, IRA, etc.)(equity is the sum of the fair market value minus any loans/debts on the asset)
  • Other real property (rental, business, land, timeshare, etc.)(equity is the sum of the fair market value minus any loans/debts on the asset)
  • Other asset equity (airplane, motorcycle, recreational vehicle, etc.)(equity is the sum of the fair market value minus any loans/debts on the asset)
  • Stocks, bonds and other investments
  • Miscellaneous(art, jewelry, coin and gun collections, etc.)
  • Income
  • Enter information about your monthly household income (in whole dollars).
  • Gross wages
  • Interest and dividends
  • Distributions from partnerships, sub-S corporations, etc.
  • Net rental income
  • Net business income
  • Child support received
  • Alimony received
  • Additional Income
  • Expenses
  • Enter information about your typical month’s household expenses (in whole dollars). Maximum allowances for expenses are determined based on your location and number of members of your household. There should be certain allowances for food, clothing, miscellaneous items and out-of-pocket medical expenses
  • Rent or mortgage and utilities (electric, gas, water, phone)
  • Vehicle 1 loan or lease payment
  • Vehicle 2 loan or lease payment
  • Vehicle operating costs (gas, oil change, repairs)
  • Total vehicles owned
  • Public transportation costs
  • Health insurance premiums
  • Federal, state and local taxes (Enter a 0 if no taxes)
  • Court-ordered payments (child support, alimony, etc.)
  • Child dependent care costs
  • Life insurance premiums
  • CAPTCHA

Why Hire Us to Help You with Your Treasury or SBA Debt Problems?

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Millions of Dollars in SBA Debts Resolved via Offer in Compromise and Negotiated Repayment Agreements without our Clients filing for Bankruptcy or Facing Home Foreclosure

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Millions of Dollars in Treasury Debts Defended Against via AWG Hearings, Treasury Offset Program Resolution, Cross-servicing Disputes, Private Collection Agency Representation, Compromise Offers and Negotiated Repayment Agreements

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Our Attorneys are Authorized by the Agency Practice Act to Represent Federal Debtors Nationwide before the SBA, The SBA Office of Hearings and Appeals, the Treasury Department, and the Bureau of Fiscal Service.

$375,000 SBA 504 LOAN - SBA OIC CASH SETTLEMENT

$375,000 SBA 504 LOAN - SBA OIC CASH SETTLEMENT

The client personally guaranteed an SBA 504 loan balance of $375,000.  Debt had been cross-referred to the Treasury at the time we got involved with the case.  We successfully had debt recalled to the SBA where we then presented an SBA OIC that was accepted for $58,000.

$750,000 SBA 7A LOAN – NEGOTIATED WORKOUT AGREEMENT

$750,000 SBA 7A LOAN – NEGOTIATED WORKOUT AGREEMENT

Client’s small business obtained an SBA 7(a) loan for $750,000.  She and her husband signed personal guarantees exposing all of their non-exempt income and assets. With just 18 months left on the maturity date and payment on the remaining balance, the Great Recession of 2008 hit, which ultimately caused the business to fail and default on the loan terms. The 7(a) lender accelerated and sent a demand for full payment of the remaining loan balance.  The SBA lender’s note allowed for a default interest rate of about 7% per year. In response to the lender's aggressive collection action, Client's husband filed for Chapter 7 bankruptcy in an attempt to protect against their personal assets. However, his bankruptcy discharge did not relieve the Client's personal guarantee liability for the SBA debt. The SBA lender opted to pursue the SBA 7(a) Guaranty and subsequently assigned the loan and the right to enforce collection against the Client to the SBA. The Client then received the SBA Official 60-Day Notice. After conducting a Case Evaluation with her, she then hired the Firm to respond and negotiate on her behalf with just 34 days left before the impending referral to Treasury. The Client wanted to dispute the SBA’s alleged debt balance as stated in the 60-Day Notice by claiming the 7(a) lender failed to liquidate business collateral in a commercially reasonable manner - which if done properly - proceeds would have paid back the entire debt balance.  However, due to time constraints, waivers contained in the SBA loan instruments, including the fact the Client was not able to inspect the SBA's records for investigation purposes before the remaining deadline, Client agreed to submit a Structured Workout for the alleged balance in response to the Official 60-Day Notice as she was not eligible for an Offer in Compromise (OIC) because of equity in non-exempt income and assets. After back and forth negotiations, the SBA Loan Specialist approved the Workout proposal, reducing the Client's purported liability by nearly $142,142.27 in accrued interest, and statutory collection fees. Without the Firm's intervention and subsequent approval of the Workout proposal, the Client's debt amount (with accrued interest, Treasury's statutory collection fee and Treasury's interest based on the Current Value of Funds Rate (CVFR) would have been nearly $291,030.

$150,000 SBA COVID-19 EIDL – BUSINESS CLOSURE REVIEW & COLLATERAL RELEASE | NEGOTIATED RESOLUTION

$150,000 SBA COVID-19 EIDL – BUSINESS CLOSURE REVIEW & COLLATERAL RELEASE | NEGOTIATED RESOLUTION

Our firm successfully resolved an SBA COVID-19 Economic Injury Disaster Loan (EIDL) default in the amount of $150,000 on behalf of Illinois-based client. After the business permanently closed due to the economic impacts of the pandemic, the owners faced potential personal liability if the business collateral was not liquidated properly under the SBA Security Agreement.

We guided the client through the SBA’s Business Closure Review process, prepared a comprehensive financial submission, and negotiated directly with the SBA to release the collateral securing the loan. The borrower satisfied their collateral obligations with a payment of  $2,075, resolving the SBA’s security interest.

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