With the guidance and support of experienced SBA loan attorneys from Protect Law Group, you can find a concrete path to SBA debt resolution. Learn now.
Book a Consultation CallAs a small business owner, dealing with SBA loan problems can be overwhelming and have a significant impact on your business and personal finances. Protect Law Group understands the challenges you face and specializes in providing concrete solutions to settle SBA debt. In this blog, we will discuss the key insights every small business owner should know about SBA forgiveness, shedding light on how our experienced SBA loan attorneys can help you navigate this complex process.
At Protect Law Group, our team of Federal Agency Practitioners and SBA Attorneys are well-equipped with the knowledge and expertise in six core disciplines necessary to resolve SBA loan problems. These strategies include deferment, administrative representation, SBA Offer in Compromise (SBA OIC), administrative litigation, negotiations, and SBA Office of Hearings & Appeals representation. With their extensive background in finance, law, litigation, risk management, and negotiations, our team is dedicated to minimizing damage to your business or personal asset base.
SBA loan problems involve intricate legal and financial aspects that require a specialized understanding of constitutional law, contract law, federal administrative law & procedure, commercial & banking litigation, risk management, asset exemption protection, bankruptcy law, and negotiations. Our SBA loan lawyers possess the necessary expertise to guide you through these complexities, ensuring the best possible outcomes for your business.
Working alongside experienced SBA loan attorneys is crucial when dealing with SBA forgiveness. They understand the intricacies of the SBA program and can develop tailored strategies to negotiate and settle SBA debt on your behalf. Their legal expertise and comprehensive knowledge empower them to protect your rights and assets while pursuing the most favorable resolution for your SBA loan problems.
When it comes to SBA debt settlement, our team of professionals at Protect Law Group strives to negotiate with creditors and the SBA to achieve the best possible outcome for our clients. By leveraging their expertise in finance, law, and negotiations, our SBA loan attorneys work diligently to settle your SBA debt through various strategies, such as SBA Offer in Compromise, administrative representation, and litigation. We aim to minimize the financial impact on your business or personal assets, allowing you to move forward with confidence.
Navigating SBA forgiveness and settling SBA debt can be an arduous journey for small business owners. However, with the guidance and support of experienced SBA loan attorneys from Protect Law Group, you can find a concrete path to resolution. Our team's expertise across finance, law, litigation, and negotiations ensures that your SBA loan problems are handled with utmost care and efficiency. Don't let SBA debt hinder your business's growth — contact our knowledgeable SBA loan attorneys to find the optimal solution for your unique circumstances.
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
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
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.
Clients personally guaranteed SBA 504 loan balance of $750,000. Clients also pledged the business’s equipment/inventory and their home as additional collateral. Clients had agreed to a voluntary sale of their home to pay down the balance. We intervened and rejected the proposed home sale. Instead, we negotiated an acceptable term repayment agreement and release of lien on the home.
Client's small business obtained an SBA COVID EIDL for $301,000 pledging collateral by executing the Note, Unconditional Guarantee and Security Agreement. The business defaulted on the loan and the SBA CESC called the Note and Guarantee, accelerated the principal balance due, accrued interest and retracted the 30-year term schedule.
The loan was transferred to the Treasury's Bureau of Fiscal Service which resulted in the statutory addition of $90,000+ in administrative fees, costs, penalties and interest with the total debt now at $391.000+. Treasury also initiated a Treasury Offset Program (TOP) levy against the client's federal contractor payments for the full amount each month - intercepting all of its revenue and pushing the business to the brink of bankruptcy.
The Firm was hired to investigate and find an alternate solution to the bankruptcy option. After submitting formal production requests for all government records, it was discovered that the SBA failed to send the required Official 60-Day Pre-Referral Notice to the borrower and guarantor prior to referring the debt to Treasury. This procedural due process violation served as the basis to submit a Cross-Servicing Dispute to recall the debt from Treasury back to the SBA and to negotiate a reinstatement of the original 30-year maturity date, a modified workout, cessation of the TOP levy against the federal contractor payments and removal of the $90,000+ Treasury-based collection fees, interest and penalties.
Clients personally guaranteed an SBA 7(a) loan that was referred to the Department of Treasury for collection. Treasury claimed our clients owed over $220,000 once it added its statutory collection fees and interest. We were able to negotiate a significant reduction of the total claimed amount from $220,000 to $119,000, saving the clients over $100,000 by arguing for a waiver of the statutory 28%-30% administrative fees and costs.
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