SBA Loan Default and the SBA Disaster Relief Loan

We provide individuals who are facing an SBA loan default with solutions. We will analyze your SBA loan problems and advise you on potential solutions such as an SBA offer in compromise.

Dealing with the idea that you might be facing an SBA loan default can be terrifying. The SBA attorneys in our office are skilled at helping clients understand all the facets of their situation. We will advise you as to the potential for an SBA offer in compromise. You should never face your SBA loan problems alone. It is important to retain the services of an attorney who can help you through this difficult time in your life. Please contact us for a free initial consultation.

Many people have obtained SBA disaster relief loans after Hurricane Katrina, Super Storm Sandy et al. But what happens when business doesn't recover and you're left with the loan and facing an SBA loan foreclosure. It is possible to obtain an SBA offer in compromise (SBA OIC).

The SBA is required to analyze the following factors:

a. Is the borrower cooperative and acting in good faith?;

b. Will restructuring the repayment plan help the borrower pay the debt?;

c. Can the borrower's cash flow support the workout plan?; and

d. Is a workout in the best interest of both the borrower and the SBA?

What type of relief may be available?

a. Reinstatement of maturity;

b. Deferment of payment;

c. Postponement of any liquidation action;

d. Extension of maturity; or

e. Reamortizationsrescheduled accounts.

If you are facing an SBA loan default you may be able to obtain a workout with the SBA. Contact us for a consultation at 1-888-756-9969.