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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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Case Study: Third Party Lender Duties on SBA Loan Default

Video Transcript  The transcript of the video follows below for further review.The case of Rister v. Yadkin Bank arose out of a United States Small Business Administration (“SBA”) loan that Defendant Yadkin Bank (“the Bank”) made in 2011 to a corporate borrower, Mystique Makeover, LLC, a salon in Charlotte, North Carolina, operated by Maria L.…

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Demand Letters From Private Collection Agencies

Video Transcript  The transcript of the video follows below for further review.If you have an SBA loan default that has been referred to the Department of Treasury for collection, you may have been contacted by a private collection agency (PCA): Pioneer Credit Recovery, CBE Group, Performant or Conserve. A recent case addressed a collection letter…

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CASE BRIEF: The SBA Guarantor did not waive the 6-year Statute of Limitations Defense when he signed a confession of judgment

CASE BRIEF:  The SBA Guarantor did not waive the 6-year Statute of Limitations Defense when he signed a confession of judgment Video Transcript  The transcript of the video follows below for further review.CASE NAME:  United States on behalf of Small Business Administration v. RichardsonCITATION:  889 F.2d 37 (3d Circuit, Pa. 1989)FACTS: Louis Richardson and his…

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Confirmation Hearing for Proposed SBA Head McMahon

Protect Law Group is committed to resolving your SBA loan default problems. Our experienced attorneys can help you through the SBA loan default process with an SBA offer in compromise, administrative wage garnishment defense, or other SBA loan forgiveness processes. With the new Trump administration comes new cabinet appointees including proposed SBA head Linda McMahon. …

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New SBA SOP Eases Loan Process for Franchisees

Protect Law Group is committed to resolving your SBA loan default problems. Our experienced attorneys can help you through the SBA loan default process with an SBA offer in compromise, administrative wage garnishment defense, or other SBA loan forgiveness processes. The SBA historically has been a major cog in the lending to franchises. In the…

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