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Category Archives: SBA Loans
Warning: When The Dept. of Justice Gets Your Case, The Price Of Settlement Goes Up.
Here are the cold facts: When the defaulted SBA guaranteed loan goes to the SBA as unresolvable, in 60 days it goes to the Dept. of Justice. The Dept. of Justice has a minimum standard it will not vary from; … Read More
Jumping the Elephant!
The United States Treasury Department did something recently for one of our DRS clients that, if not unprecedented, is noteworthy for being very rare indeed; they returned a file already in ‘collections’ to the small business administration for adjudication. The … Read More
Another Successful Offer in Compromise – Over $1,000,000 in Debt Forgiven
This client owned a national food manufacturing company. They turned their lifelong hobby into a business that initially showed signs of success. Unfortunately, as the market crashed in 2008, consumers stopped spending money on the type of high end foods … Read More
Recent Success in Avoiding Receivership
A new client recently came on board at Second Wind with an immediate issue. The bank was coming down on the company hard and the banks representatives were hell bent on sending a receiver into the business within days, which … Read More
Modifying Your SBA Or Bank Loan.. Definitely Not The Way To Go
I talk to many borrowers who have guaranteed SBA loans who experience problems and cannot make the payments. Revenues are down sharply, expenses and overhead are increasing and debt service is impossible to support. Typically, thus they want to modify … Read More
Posted in Debt Workout, SBA Loans
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