Alright then, let’s dive into this matter at hand, and that’s about the SBA loan and what sort of pinch it seems to be throwing you for. Myself, Lawscape, and my team at the Lawscape make a regular habit of assisting folks dealing with the stumbling test that is an SBA loan default.

Sit Tight, We’ve Got your Back

The most demoralizing thought anyone can have is that they might be facing an SBA loan default. It’s like been thrown into an ocean full of sharks, isn’t it? Let me tell you, this isn’t something you should deal with on your own. My team and I offer services that not only help you navigate these rough waters but also can point you toward potential lifelines, such as exploring an SBA offer in compromise. Now, make yourself comfortable and pick up that phone for a friendly chat.

On the Edge with an SBA Loan Guarantee?

So, you’ve signed that personal guarantee for an SBA loan, and things aren’t exactly going swimmingly with your business partners. But hold your horses, I’m here to say you do have options. For instance, it’s entirely possible for you to get released from the guarantee or substitute another guarantor with the following considerations:

1) The Status of the Loan:

The loan should be current in all respects, with a clean record devoid of any sneaky unpaid taxes or deferment of installments.

2) Get it in Writing:

The field office needs to get their hands on a written request from you.

3) All Parties on Board:

You’ll require the written thumbs up from everyone involved before any big changes can be made.

4) Counsel’s Nod of Approval:

Before any moves are made, make sure an SBA counsel gives them a nod. This is to ensure that the Agency’s rights won’t be compromised.

5) Selling or Restructuring:

Let’s say you’ve decided to bail out because of a business shake-up or sale. In that case, details of the proposed transaction need to be laid in front. It is essential that while doing so, no one stiffs the SBA, or dishes them a loss while taking off.

6) Checking out the Newbies:

The SBA insists on getting to know your proposed substitute guarantor before they say yes. Naturally, they require certain documents like personal financial statements.

Making your way through SBA’s Maze

Successfully maneuvering your way through the SBA’s maze and getting released from your guarantee is indeed possible. For guidance on this or any other SBA loan challenges, you can always reach out to us at 212-460-5004, and we’ll be ready to help.

Why You Should Choose Lawscape

Just to share a bit about the greener pastures we’ve lead our clients towards: we’ve resolved millions of dollars in SBA Debts through Offer in Compromise and Negotiated Repayment Agreements, yes, without driving our clients through the gauntlet of Bankruptcy or nudging them towards a Home Foreclosure.

And we don’t stop at SBA debts. We’ve defended numerous clients against millions of dollars in Treasury Debts through various legal procedures such as AWG Hearings, Treasury Offset Program Resolution, Cross-servicing Disputes, Private Collection Agency Representation, Compromise Offers, and Negotiated Repayment Agreements.

As an Agency Practice Act approved entity, we’re qualified to represent Federal Debtors Nationwide before significant players such as the SBA, The SBA Office of Hearings and Appeals, the Treasury Department, and the Bureau of Fiscal Service. So, with us by your side, you’ve got a good chance of straightening out any Federal Debt Issues that head your way.