SBA Default Workout Help

SBA Loan Default Workouts

Contact us today for debt forgiveness, debt workout review.

We closed a number of SBA guaranteed loan workouts with stunning conclusions.

Yes, the seemingly impossible is possible!

• - One successful workout is reducing a client’s debt from $1.8 million to $800,000! A million dollar reduction in debt! Much can be accomplished with a viable workout strategy.
• - We did it again! Another successful workout with over a million dollars of forgiveness with an $80,000 payoff!
• - …and then again, a 1.1 million dollars debt worked out with a $75,000. payment!
• - Another interesting result was with a client who owes $1.7 million, and needed time to re-organize as we worked out his debt, and while we certainly intend to submit an aggressive Offer in Compromise, we needed a few more months so I successfully negotiated a $100. per month payment for 6 months…Wow. Anything can be accomplished….We will workout the debt as well, when we are ready.
• - Of course, we have many many smaller loans that are handled in a similar manner. We also recently resolved a $348,000 defaulted loan for $12,000. although in this case the business was not worth continuing, so it was the personal guaranty that we resolved without preservation of the business assets.

That’s the point of all my work, protecting assets, reformulating today’s debt so your business is able to support today’s business environment and conditions, which are much different then what they were three months ago, a year ago, many years ago, when the debt was incurred and the condition of our economy was very different and the borrower had much higher gross revenues and of course stripping of the debt and resolving the personal guaranty.

The right workout affords the business an opportunity to keep running, able to support its debt while operating at break even, or better without the burden of debt service, allowing the new business an opportunity to pursue ways to grow and expand in today’s economy without excessive debt.

Sign up the form today for debt forgiveness, debt workout review.

Or call 413-584-2581 and Norm will arrange a no-obligation teleconference for us to discuss your options.