How to Refinance an SBA Loan Successfully
If your SBA loan is now making it hard to operate your business, you may want to consider refinancing. Learn more about how to refinance an SBA loan.
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.
President-elect Donald Trump announced former World Wrestling Entertainment executive Linda McMahon as his choice for the cabinet-level post of head of the SBA.
McMahon had met privately with Mr. Trump last week at Trump Tower where Mr. Trump has been running his transition operation. McMahon's nomination displays President-elect Trump's penchant for reaching outside traditional political, government and business circles in enlisting advisors and administrators for his presidency.
McMahon is the co-founder of World Wrestling Entertainment Inc., known for such colorful personalities as Dwayne "The Rock" Johnson and Hulk Hogan, and a former unsuccessful Republican candidate for the U.S. Senate in Connecticut. Trump made occasional appearances on WWE programs over the years.
In a statement, Trump said: “Linda has a tremendous background and is widely recognized as one of the country’s top female executives advising businesses around the globe. She helped grow WWE from a modest 13-person operation to a publicly traded global enterprise with more than 800 employees in offices worldwide."
“Linda is going to be a phenomenal leader and champion for small businesses and unleash America’s entrepreneurial spirit all across the country.”
McMahon provided $6 million to a super PAC backing Trump. That made her one of the top supporters of Trump’s presidential bid. She had previously supported Trump's nomination adversary Chris Christie.
“I am honored to join the incredibly impressive economic team that President-elect Trump has assembled to ensure that we promote our country’s small businesses and help them grow and thrive,” Ms. McMahon said.
If confirmed by the Senate, Ms. McMahon would succeed Maria Contreras-Sweet as SBA administrator. Contreras-Sweet has held the post since April 2014.
If you are facing an SBA loan default, contact us at 1-888-756-9969 for a consultation.
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.
Client received the SBA's Official 60-Day Notice for a loan that was obtained by her small business in 2001. The SBA loan went into default in 2004 but after hearing nothing from the SBA lender or the SBA for 20 years, out of the blue, she received the SBA's collection due process notice which provided her with only one of four options: (1) repay the entire accelerated balance immediately; (2) negotiate a repayment arrangement; (3) challenge the legal enforceability of the debt with evidence; or (4) request an OHA hearing before a U.S. Administrative Law Judge.
Client hired the Firm to represent her with only 13 days left before the expiration deadline to respond to the SBA's Official 60-Day Notice. The Firm attorneys immediately researched the SBA's Official loan database to obtain information regarding the 7(a) loan. Thereafter, the Firm attorneys conducted legal research and asserted certain affirmative defenses challenging the legal enforceability of the debt. A written response was timely filed to the 60-Day Notice with the SBA subsequently agreeing with the client's affirmative defenses and legal arguments. As a result, the SBA rendered a decision immediately terminating collection of the debt against the client's alleged personal guarantee liability saving her $50,000.
The client personally guaranteed an SBA 504 loan balance of $375,000. Debt had been cross-referred to the Treasury at the time we got involved with the case. We successfully had debt recalled to the SBA where we then presented an SBA OIC that was accepted for $58,000.
Client personally guaranteed an SBA 7(a) loan to help with a relative’s new business venture. After the business failed, Treasury was able to secure a recurring Treasury Offset Program (TOP) levy against his monthly Social Security Benefits based on the claim that he owed over $1.2 million dollars. We initially submitted a Cross-Servicing Dispute, but then, prepared and filed an Appeals Petition with the SBA Office of Hearings and Appeals (SBA OHA). As a result of our efforts, we were able to convince the SBA to not only terminate the claimed debt of $1.2 million dollars against our client (without him having to file bankruptcy) but also refund the past recurring amounts that were offset from his Social Security Benefits in connection with the TOP levy.
.jpg)
