Which 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…
Read MoreHURRICANE HARVEY AND HURRICANE IRMA: SBA DISASTER LOAN RELIEF
HURRICANE HARVEY AND HURRICANE IRMA: SBA DISASTER LOAN RELIEF Video Transcript In the aftermath of Hurricane Harvey in Houston, Texas and in the wake of Hurricane Harvey that is currently reeking havoc in Florida, the U.S. Small Business Administration (SBA) will eventually play a major role in disaster relief – just like when the SBA…
Read MoreCase Brief: Discharging Liability on SBA Guarantee
Case Brief: Discharging liability on SBA Guarantee Video Transcript The transcript of the video follows below for further review. CASE BRIEF: An SBA guarantor can be discharged from personal liability under California state U.C.C. law to the extent that the lender or the SBA (as assignee) unjustifiably impairs any collateral pledged as security for the…
Read MoreDEPARTMENT OF JUSTICE: SAMPLE COMPLAINT AGAINST PERSONAL GUARANTORS FOR OUTSTANDING SBA DEBT
DEPARTMENT OF JUSTICE: SAMPLE COMPLAINT AGAINST PERSONAL GUARANTORS FOR OUTSTANDING SBA DEBT Video Transcript The transcript of the video follows below for further review. 31 C.F.R. Part 904 provides the reasons to refer SBA debt cases from Treasury Department’s Bureau of Fiscal Service to the U.S. Department of Justice for collection litigation. Once an…
Read MoreTreasury Department’s authority to refer SBA debt cases to the Department of Justice for collection litigation
Department of the Treasury Bureau of Fiscal Service Power to Refer SBA debt to the Department of Justice for collection by litigation Video Transcript: The transcript of the video follows below for further review. When an SBA debt case is referred for Department of Justice collection litigation, it is first routed to the National…
Read MoreCase Study: Third Party Lender Duties on SBA Loan Default
Video Transcript The transcript of the video follows below for further review. The case of Rister v. Yadkin Bank arose out of a United States Small Business Administration (“SBA”) loan that Defendant Yadkin Bank (“the Bank”) made in 2011 to a corporate borrower, Mystique Makeover, LLC, a salon in Charlotte, North Carolina, operated by…
Read MoreDemand Letters From Private Collection Agencies
Video Transcript The transcript of the video follows below for further review. If you have an SBA loan default that has been referred to the Department of Treasury for collection, you may have been contacted by a private collection agency (PCA): Pioneer Credit Recovery, CBE Group, Performant or Conserve. A recent case addressed a…
Read MoreCASE BRIEF: The SBA Guarantor did not waive the 6-year Statute of Limitations Defense when he signed a confession of judgment
CASE BRIEF: The SBA Guarantor did not waive the 6-year Statute of Limitations Defense when he signed a confession of judgment Video Transcript The transcript of the video follows below for further review. CASE NAME: United States on behalf of Small Business Administration v. Richardson CITATION: 889 F.2d 37 (3d Circuit, Pa. 1989) FACTS: Louis…
Read MoreConfirmation Hearing for Proposed SBA Head McMahon
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. With the new Trump administration comes new cabinet appointees including proposed SBA head Linda McMahon. …
Read MoreReferral of SBA debts to the U.S. Department of Justice for Litigation
SBA Loan Default Cases: What generally happens when SBA debts are referred to the DoJ for litigation? Video Transcript The transcript of the video follows below for further review. Once an SBA loan has been delinquent between 120 days (4 months) and 180 days (6 months), the loan is generally referred to the U.S. Treasury…
Read MoreBeware of the Confession of Judgment Clause: SBA loan default cases
Confession of Judgment Clauses in SBA Loan Documents, Repayment Agreements, Stipulations, Forbearance Agreement or other instruments in connection with SBA loan default cases Video Transcript The transcript of the video follows below for further review. One of the most powerful weapons that may be incorporated into certain loan documents on an SBA Loan Default Case…
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