Sounds like you’re sussing out help with SBA problems, right? Lawscape and team can help you unravel your toughest entanglements. Ever received a mysterious SBA demand letter? Not sure what an SBA loan foreclosure means? Or maybe you’re wondering about the tax offset program by the Department of Treasury, a nifty little system designed to snag debt? Whatever the query, we’ve got you covered.

When Life Tosses You SBA Lemons…

We believe a problem is only as big as the expertise you have on hand. So worry not, because we, at the Lawscape, have an army of attorneys armed with the right intel for any SBA issues. From reacting to an SBA demand letter, understanding the process of SBA loan foreclosure or getting the lowdown on a tax offset program, our legal maestros can fill you in.

Micro but Mighty: SBA Microloans Through Online Portals

Let me draw your attention to Golden Pacific Bank’s initiative. Fresh off the grill, this bank’s all set to roll out a nationwide programme to offer small SBA microloans from an online platform, Smartbizloan.com. Small businesses can put up applications for loans as little as $5,000 – a number that might not ordinarily pique a bank’s interest.

Potential borrowers drop in their essential information into an online form and give the go-ahead for bank assessment of their company’s financial records, tax documentation and credit track records.

The Process: Faster Than Your Friday Night Pizza Delivery?

Once you’ve hopped onto the online portal and verified your data, an automated system simplifies this info and assigns a grade for your loan application. Of course, humans have the final say. A bank loan committee is your last step before receiving an approval.

Lawscape would like to share an insider scoop. Once approved, these loans reportedly see the light of day in just a few days! And yes, Golden Pacific Bank happens to be an SBA preferred lender, which translates to being able to approve its own loans.

Versatility: The Range and Scope of the Microloans

Think of this almost like perusing a menu – these microloans range from as small as $5,000, to as fat as $150,000. The sweet spot for the bank officials though, lies under the $25,000 mark. Time to adjust your wish list if you were expecting a loan over $25,000 because that comes with the baggage of collateral. The loans have a 10-year span but no penalties for those who make early repayments.

Alright, enough with the teasing. Let’s talk numbers that matter. The pilot programme saw nearly 60 loans adding up to a cool $1 million funded in barely a year’s time.

A World of Borrowers

So far, the programme has attracted borrowers from across the country involved in a sundry of businesses – think wild bird feed manufacturers, yoga apparel creators, bookkeepers and other professionals. But remember, these are not for newbies in the business world. You would need at least one year of financial folders as a standing proof of your business.

Solving the Small Loan Knotty Issue

Struggling to get your small loan approved? Many business owners in need of small amounts turn to credit cards, which could be riskier and costlier in the long run. Instead, consider these microloans, which despite their petite size, can help you build up your business’s credit profile.

Need Assistance?

Whether you’re curious about the Department of Treasury’s tax offset program, SBA loan foreclosure, need guidance responding to an SBA demand letter, or simply want to ask a question about the topic, feel free to call us at 212-460-5004 for a case evaluation.

Why Choose the Lawscape?

We’ve managed to help clients resolve millions of dollars of SBA debts via compromise offers and negotiated repayment agreements without resorting to bankruptcy or risking home foreclosure.

Our team has successfully defended against millions of dollars in Treasury debts through various methods, including AWG hearings, resolution of Treasury Offset Program, Cross-servicing disputes, representation at private collection agencies, compromise offers and negotiated repayment agreements.

Armed with the Authority

The Agency Practice Act has given us the green signal to help Federal debtors across the nation, before the SBA, the SBA Office of Hearings and Appeals, the Treasury Department, and the Bureau of Fiscal Service.