Personal Guarantees on Business Loans: What The SBA Wants You to Know
What You Need to Know About Personal Guarantees on Business Loans Is a personal guarantee a must for SBA loans? What if you don’t have assets to pledge? Here’s everything you need to know about personal guarantees on business loans and why one might be necessary if you’re hoping to get an SBA guaranteed loan.…
Read MoreHow Can the Department of Treasury Garnish My Wages without a State Court Judgment?
SBA Loans and Administrative Wage Garnishment Many SBA loan debtors are shocked to learn that the Department of Treasury does not need to obtain a judgment in state court before it garnishes your wages via administrative wage garnishment. Types of SBA Loans SBA has helped many business owners grow their business through providing funding when…
Read MoreAre SBA Loan Debts Dischargeable in Chapter 7 Bankruptcy?
Are SBA Loan Debts Dischargeable in Chapter 7 Bankruptcy? Video Transcript The transcript of the video follows below for further review. Are SBA Loan Debts Dischargeable in Chapter 7 Bankruptcy? The short answer to this commonly-asked question is – generally, yes. But, there are significant risks that SBA business owners, SBA guarantors and SBA obligors…
Read More4 Common Questions About SBA Liens Answered
As part of obtaining your SBA 7a loan you may have pledged your personal residence as collateral. This seemed to be an afterthought to obtain your SBA loan. However, once the business defaulted on the SBA loan, the SBA lien has become a huge headache. https://youtu.be/VOTYIUqNoHA This article answers the four questions homeowners have about…
Read MoreSBA Loan Programs: Which Ones Are Right for You And The Pitfalls Of Default
Picking out of the Best SBA Loan Programs We take a moment to look at the biggest factors when choosing from well known SBA loan programs, and what you can do to help your business… and the risks you face in the event of default. SBA Loan Programs Of the top five reasons why businesses…
Read MoreUnderstanding the SBA’s Form 148, Unconditional Guarantee, and SBA Form 148L, Unconditional Limited Guarantee
Required Guarantee Agreements and Collateral Documents for participating SBA Lenders originating 7(a) Loans and Certified Development Corporations issuing SBA 504 Loans. Video Transcript In order to secure SBA guaranteed loans originated by SBA 7(a) Lenders or SBA 504 debenture-guaranteed loans serviced by Certified Development Corporations (CDCS), the SBA issued the Unconditional Guarantee (Form 148)…
Read MoreHow To Secure Small Business Loans with Bad Credit
Have poor credit? Got a small business idea? Turns out, you can still get the funding you need. Discover how you can secure small business loans with bad credit The honest truth is this: having a bad credit score doesn’t mean it’s all over for you! If you’re an entrepreneur with a less-than-average credit rating,…
Read MoreSBA Offer in Compromise vs. Bankruptcy
SBA Offer in Compromise vs. Bankruptcy If you are liable for an SBA debt due to a breach of an SBA loan agreement or personal guarantee, you may have to consider a couple of resolution options. Your options may be to explore an SBA Offer in Compromise, a Treasury Department (DOT) Compromise Offer or a…
Read MoreLitigation & Collection Weapons in California That Can Be Used By Lenders, CDCs And SBA Involving An SBA Loan Default
Litigation & Collection Weapons in California That Can Be Used By Lenders, CDCs And SBA Involving An SBA Loan Default Video Transcript The transcript of the video follows below for further review. A major concern facing 7(a) Lenders, Certified Development Corporations (CDCs) or the SBA is whether the SBA guarantor possesses any reachable assets to…
Read MoreSBA Loan Rates: What to Expect from Your SBA Loan Upon Default
If you’re applying for an SBA loan, you need to know exactly what you’re signing up for as you complete the process. Here are common SBA loan rates to expect and what you can expect if you default on your SBA loan. SBA loan interest rates and interest rates upon default. You’ve probably heard about…
Read MoreWhich Industry Has the Most SBA Loan Defaults?
Which businesses are defaulting most on their SBA loans? Learn what’s behind these SBA loan defaults and what you can do about yours. SBA loan defaults Small Business Administration (SBA) loans can help a small business grow and succeed. The SBA works with lenders and small businesses to ensure each party benefits. Still, there is…
Read MoreWhat Is CAIVRS And Can I Be Released?
You may have recently applied for an FHA loan, for example, and were told that you are on CAIVRS. What is CAIVRS and can you get off the list? Landing on CAIVRS means no government backed loans What Is CAIVRS? CAIVRS refers to the Credit Alert Verification Reporting System. Only the government could add an…
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