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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…

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How To Secure Small Business Loans with Bad Credit

Have poor credit? Got a small business idea? Turns out, you can still get the funding you need. Discover how you can secure small business loans with bad credit The honest truth is this: having a bad credit score doesn’t mean it’s all over for you! If you’re an entrepreneur with a less-than-average credit rating,…

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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…

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SBA Loan Rates: What to Expect from Your SBA Loan Upon Default

If you’re applying for an SBA loan, you need to know exactly what you’re signing up for as you complete the process. Here are common SBA loan rates to expect and what you can expect if you default on your SBA loan. SBA loan interest rates and interest rates upon default. You’ve probably heard about…

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Which Industry Has the Most SBA Loan Defaults?

Which businesses are defaulting most on their SBA loans? Learn what’s behind these SBA loan defaults and what you can do about yours. SBA loan defaults Small Business Administration (SBA) loans can help a small business grow and succeed. The SBA works with lenders and small businesses to ensure each party benefits. Still, there is…

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What Is CAIVRS And Can I Be Released?

You may have recently applied for an FHA loan, for example, and were told that you are on CAIVRS.  What is CAIVRS and can you get off the list? Landing on CAIVRS means no government backed loans What Is CAIVRS? CAIVRS refers to the Credit Alert Verification Reporting System.  Only the government could add an…

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What to Expect From the Loan Debt Collection Process

If you’re struggling with loan debt, the last thing you need is to be blindsided by collectors. Here’s what to expect during the debt collection process. Loan Debt Shackles You We know how it goes. One missed payment snowballs into two, three, or four missed payments. The fees add up and all of a sudden,…

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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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