Lawscape: Your Guide to Navigating SBA Liquidation Protocols

Hey there! Let’s chat about SBA SOP 50 51 3. That’s some cryptic, law-related lingo, but don’t worry – Our team at the Lawscape is here to help you decipher it. It’s actually a pretty crucial standard operating procedure for anyone trying to work out their SBA guaranteed debt. You’re in the driver’s seat here, and I’m just your guide — so, hop in!

SBA Liquidation: Responsibility and Authority

Are you familiar with the term ‘SBA Loan’? If not, no problem. You see, when an SBA Loan is tagged in liquidation status, one of these three SBA Loan Centers handles it:

The National Guaranty Purchase Center (Herndon, VA) deals with Standard 7(a), CLP, PLP and EWCP Loans; The SBA Commercial Loan Service Center West (Fresno, CA), that handles Express and Pilot Loan Program 7(a) Loans and 504 Loans in the West or Mid-Western US; On the flip side, we have the SBA Commercial Loan Service Center East (Little Rock, AR), who manage similar loans for Eastern or Mid-Eastern United States.

Getting the Job Done Right: Performance Standards

Ever heard of ‘Loan Program Requirements’? All SBA Loans have to be liquidated smartly, promptly, economically, and sensibly keeping these requirements in mind.

Approvals, Documentation, and Review: How it Works

Loans get approved using something called the Rule of Two. Essentially, it’s a double-checking protocol. Also, there’s a detailed Loan Action Record system, so none of the actions go unnoticed.

A legal eagle is supposed to review and comment on all the issues which have legal implications, like loans categorized as litigation status, acquisition of contaminated property, deeds in lieu of foreclosure and such. You can find more exhaustive information on the review criteria from the SBA’s official website.

Navigating Gray Areas

Remember our talk about exceptions? Not every loan is created equally, and sometimes SOP doesn’t cover unique circumstances. That’s when an exception comes into play, but it has to be justifiable and cannot violate any governing regulation.

Status Checks and Decision Making

So how do we ensure things are on track? SBA personnel review Quarterly Status Reports. These checks ensure that the loan liquidation is moving smoothly and legally.

If a loan modification proposal ends up in a split decision, it needs to be referred to a higher authority in the SBA.

Responding and Reviewing Requests

Got a request for SBA loan action approval? That’s where our crew at Lawscape steps in. Alongside supervisory Liquidation officers, we review all such requests. Generally, an answer should be expected within 15 business days.

Missed a Beat? We’ve Got Your Back!

Got all that? SOPs can be a bit complicated, and sometimes steps get missed. If that step pertains to you and the SBA falls short, it could affect your rights, and that’s not okay. But don’t worry! We’re here to guide you towards your next steps, including an Appeal to the SBA Office of Hearings and Appeals, if necessary.

Why Pick Lawscape?

We’ve successfully resolved millions of dollars in SBA debts, without the need for bankruptcy or foreclosure. Our team knows the ropes of Treasury Debts, so from AWG Hearings to Private Collection Agency Representation, we’re on it. We’re authorised to represent Federal Debtors all over the country, before bodies like the SBA, The SBA Office of Hearings and Appeals, the Treasury Department and the Bureau of Fiscal Service.

Final Thoughts

Life happens, and sometimes we need a helping hand. If you’re dealing with SBA loan, don’t go it alone. Pass us the wheel, and let’s navigate the choppy waters of SBA Liquidation together. For more information about our specialized SBA services, ping us at the Lawscape website or dial us at 212-460-5004 to chat with our experienced SBA Workout Attorneys. Can’t wait to hear from you!