If you Owe more than $30,000 contact us for a free case evaluation at (833) 428-0937
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SBA Loans Explained - The 7(a) Loan

If you obtain an SBA loan - specifically a 7(a) loan, you can use the loan proceeds to help finance a great variety of business expenses.

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SBA Loans Explained - The 7(a) Loan

If you obtain an SBA loan - specifically a  7(a) loan, you can use the loan proceeds to help finance a great variety of business expenses. However, there are a few restrictions. For instance, loan funds can’t be used to purchase an asset to maintain  for its potential increased value or to reimburse an owner for the money they previously put into their business.

Basic uses for 7(a) loan proceeds include:

  • To  pay operational expenses, accounts payable and/or to purchase inventory;
  • To pay contract performance, construction financing and exporting;
  • To purchase equipment, machinery, furniture, fixtures, supplies or materials;
  • To purchase real estate, including land and buildings;
  • To construct a new building or renovate an existing building;
  • To establish a new business or assist in the acquisition, operation or expansion of an existing business;
  • To refinance existing business debt, under certain conditions.

This video explains the 7(a) loan more. If you're in default on your 7(a) loan or are in danger of defaulting you need to contact an SBA attorney immediately.  Get a FREE case evaluation here or call 888-756-9969. Don't face the SBA alone, get qualified SBA assistance from an SBA attorney today.

https://www.youtube.com/watch?v=TPNnRVgLSBs

Why Hire Us to Help You with Your Treasury or SBA Debt Problems?

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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

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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

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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.

$150,000 SBA 7A LOAN - SBA OIC CASH SETTLEMENT

$150,000 SBA 7A LOAN - SBA OIC CASH SETTLEMENT

Client personally guaranteed SBA 7(a) loan balance of over $150,000.  Business failed and eventually shut down.  SBA then pursued client for the balance.  We intervened and was able to present an SBA OIC that was accepted for $30,000.

$488,000 SBA 7A LOAN - SBA OHA LITIGATION

$488,000 SBA 7A LOAN - SBA OHA LITIGATION

Clients personally guaranteed an SBA 7(a) loan.  The SBA referred the debt to the Department of Treasury, which was seeking payment of $487,981 from our clients.  We initially filed a Cross-Servicing Dispute, which was denied.  As a result, we filed an Appeals Petition with the SBA Office of Hearings and Appeals asserting legal defenses and supporting evidence uncovered during the discovery and investigation phase of our services.  Ultimately, the SBA settled the debt for $25,000 - saving our clients approximately $462,981.

$337,000 SBA 504 LOAN - SBA OIC CASH SETTLEMENT

$337,000 SBA 504 LOAN - SBA OIC CASH SETTLEMENT

Clients personally guaranteed SBA 504 loan balance of $337,000.  The Third Party Lender had obtained a Judgment against the clients.  We represented clients before the SBA and negotiated an SBA OIC that was accepted for $30,000.

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