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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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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 the SBA…

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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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Private Collection Agencies: What You Need to Know

If you’ve borrowed an SBA guaranteed loan and you can’t pay it back you’ll be hearing from a collector contracted with by the Department of Treasury. Read on for what you need to know abut private collection agencies. Debt is a complicated process, whether you’re a small or large business or even an individual. For operations…

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SBA Loan Default: What Happens if You Don’t Pay?

Did you default on a loan given to you by the Small Business Administration? We’re telling you what happens if you don’t pay and what you can do with an SBA loan default. For thousands of small businesses around the country, the Small Business Administration (SBA) is a lifeline, helping them secure loans when no…

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