If you Owe more than $30,000 contact us for a case evaluation at (833) 428-0937
contact us for a free case evaluation at (833) 428-0937
Call us (833) 428-0937

Tips to Repay Your SBA Loan

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Tips to Repay Your SBA Loan

Tips to Repay Your SBA Loan

Many small businesses rely on SBA loans, or Small Business Administration loans, in order to get off the ground, provide funding for expansion costs, and help with working capital needs. SBA loans are backed by the federal government, making them very popular amongst small business owners. Protect Law Group is a SBA debt resolution attorney. Below, we'll offer tips to repay your SBA loan. Get in touch today!

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Understand the Terms of Your SBA Loan

The first step to repaying your SBA loan is to ensure you understand the terms of your loan. This includes knowing when your payment is due each month, the payment amount, and the methods of payment accepted by your lender.

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If You Need Help Repaying Your SBA Loan, Reach Out Immediately

One of the worst things you can do is ghost your SBA lender if you can't pay. This sends a message that you have no intentions of paying and will make them less likely to work with you on future loan payments.

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Set Up AutoPay for Your SBA Loan

Business owners are busy people, trying to run their business, make payroll, and stay compliant with all applicable laws. By setting up automatic payments for your SBA loan, you can rest assured you won't miss a payment and fall behind or incur late fees.

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Consider Refinancing Options if Need Be

If you are struggling to make your SBA loan payments, one great option is to see if you qualify for a business loan refinance. This is a great way to possibly lower your interest rate and your payment amount, helping to make on-time payments moving forward.

Contact Protect Law Group Today

Protect Law Group is a California-based SBA attorney law firm that is passionate about helping small business owners with their SBA loan default status. If you need help with your SBA loans, get in touch today!

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.

$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.

$300,000 SBA 7A LOAN - SBA OIC TERM SETTLEMENT

$300,000 SBA 7A LOAN - SBA OIC TERM SETTLEMENT

Clients personally guaranteed SBA 7(a) loan balance of over $300,000.  Clients also pledged their home as additional collateral.  SBA OIC accepted for $87,000 with full release of lien against home.

$750,000 SBA 504 LOAN - NEGOTIATED TERM REPAYMENT AGREEMENT

$750,000 SBA 504 LOAN - NEGOTIATED TERM REPAYMENT AGREEMENT

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.

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