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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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Bank Officers Charged with SBA Loan Fraud

Financial institution officers and a bank consumer had been charged inside the Chicago area Tuesday with fraud for submitting a false loan application to the SBA (SBA) for nearly $4 million. James Graber and Kristin King, along side Ryan Cole of Garland, Texas, were charged by a federal grand jury in Rockford with wire fraud…

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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 the SBA…

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