Learn more about SBA debt relief programs and how Protect Law Group can help with SBA repayment plan negotiations. Get in touch with us today.
Book a Consultation CallFacing overwhelming debts can be daunting for small business owners, but there is relief available through the Small Business Administration (SBA) repayment plans. In this blog post, we will explore the ins and outs of SBA repayment plans and how they can be beneficial for your business. If you are struggling with SBA debt, Protect Law Group is here to provide expert assistance. Contact us today for a case evaluation.
As a small business owner, you may find yourself burdened with substantial debt. The SBA debt relief program offers a lifeline by providing options to ease your financial strain. These programs aim to restructure your debts and make them more manageable, allowing you to regain control of your business.
Under this program, the SBA may offer relief by covering a portion of your loan repayments, reducing your interest rates, or extending the repayment period. This can significantly alleviate the burden of your debts and give you the breathing room you need to stabilize your business.
SBA repayment plans are designed to help you pay down your debts in a structured and feasible manner. These plans typically involve negotiations with the SBA or your lender to lower monthly payments or settle the debt for a reduced amount. With the experience of Protect Law Group's SBA attorneys, you can navigate these negotiations effectively, ensuring the best outcome for your business.
Opting for an SBA repayment plan offers several advantages. It allows you to avoid more severe consequences, such as bankruptcy or home foreclosure. Moreover, it provides a path towards regaining financial stability and preserving your business.
If SBA debt has become overwhelming for your small business, seek the expert guidance of Protect Law Group. Our attorneys understand the intricacies of SBA repayment plans and will work tirelessly to tailor a solution that suits your unique circumstances. Contact us today for a case evaluation and take the first step towards finding your path to business debt recovery.
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 borrowed and personally guaranteed an SBA 7(a) loan. Clients defaulted on the SBA loan and were sued in federal district court for breach of contract. The SBA lender demanded the Client pledge several personal real estate properties as collateral to reinstate and secure the defaulted SBA loan. We were subsequently hired to intervene and aggressively defend the lawsuit. After several months of litigation, our attorneys negotiated a reinstatement of the SBA loan and a structured workout that did not involve any liens against the Client's personal real estate holdings.
Clients personally guaranteed an 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.
Small business and guarantors obtained an SBA COVID-EIDL loan for $1,000,000. Clients defaulted causing SBA to charge-off the loan, accelerate the balance and refer the debt to Treasury's Bureau of Fiscal Service for collection. Treasury added nearly $500,000 in collection fees totaling $1,500,000. Clients were served with the SBA's Official 60-Day Notice and exercised the Repayment option by applying for the SBA’s Hardship Accommodation Plan. However, their application was summarily rejected by the SBA without providing any meaningful reasons. Clients hired the Firm to represent them against the SBA, Treasury and a Private Collection Agency. After securing government records through discovery, we filed an Appeals Petition with the SBA Office of Hearings & Appeals (OHA) court challenging the SBA's referral of the debt to Treasury. During litigation and before the OHA court issued a final Decision and Order, the Firm successfully negotiated a reinstatement and recall of the loan back to the SBA, a modification of the original repayment terms, termination of Treasury's enforced collection and removal of the statutory collection fees.
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