We will analyze your SBA loan problems and advise you on potential solutions such as an SBA offer in compromise for your SBA loan default.
Book a Consultation CallDealing with the idea that you might be facing an SBA loan default can be terrifying. The SBA attorneys in our office are skilled at helping clients understand all the facets of their situation. We will advise you as to the potential for an SBA offer in compromise. You should never face your SBA loan problems alone. It is important to retain the services of an attorney who can help you through this difficult time in your life. Please contact us for a free initial consultation.
According to a recent article by Don Sniegowski, two new bills have been introduced to Congress that may affect franchisees, one of the most fertile grounds for SBA backed loans. Both bills address disclosure issues. The first bill seeks to reduce misleading information in franchise documents. "The second bill, the SBA Franchise Loan Transparency Act, H.R. 3195, takes another approach. It requires any franchise business receiving an SBA-guaranteed loan, and the loan's lender, to obtain average unit revenues from the franchisor's Franchise Disclosure Document (FDD)." You can read the complete article here
Protect Law Group deals with franchisees and personal guarantors that are facing an SBA loan default. In our experience, franchises can be great business opportunities but often times results in default and a closed business. Before investing in a franchise, be sure to do the research - websites like www.bluemaumau.com provide default rates for various franchises. Some well known brands, such as Quiznos, come with incredibly high failure rates. Although SBA backed loans are the lifeblood of many franchisees, understand that such loans come with personal risk in the form of a personal guarantee that puts your personal assets and income at risk.
If you are facing an SBA loan default, contact us today for a FREE initial consultation with an experienced SBA workout attorney at 888-756-9969.
We will analyze your SBA loan problems and advise you on potential solutions such as an SBA offer in compromise for your SBA loan default.
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.
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.
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.
Client personally guaranteed SBA 7(a) loan balance of over $150,000. Business failed and eventually shut down. SBA then pursued client for the balance. We intervened and was able to present an SBA OIC that was accepted for $30,000.
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