Alright my friend, let me break this down for you a bit. You see, here at Lawscape, we handle all kinds of legal issues, but one big one we deal with is SBA loan default issues. We know that the prospect of defaulting on an SBA loan is nerve-wracking, which is where Lawscape himself steps in. He and our talented team are all about helping you navigate through the sticky mud of loan default situations. We’re talking SBA offer in compromise, defending you from administrative wage garnishment, and guiding you through other loan forgiveness processes.

Why Trust Lawscape?

Well, for starters, we’ve dealt with millions of dollars in SBA and Treasury debts, clearing them through Offer in Compromise and negotiated repayment agreements. Our clients didn’t have to go bankrupt or face the loss of their homes. Sounds good, right?

We’ve also defended against hefty treasury debts through AWG hearings, Treasury Offset Program resolutions, and more. Plus, we’re authorized by the Agency Practice Act to represent federal debtors all across the nation before the SBA, The SBA Office of Hearings and Appeals, the Treasury Department, and the Bureau of Fiscal Service. That’s some serious credibility if you ask me.

About the SBA Office of Inspector General

Now, let’s shift gears and talk about the Office of Inspector General (OIG), an entity that oversees the integrity and performance of the SBA and its programs. They face huge hurdles in accomplishing their mission, battling against fraudulent advancement schemes, dealing with hefty losses from loan defaults, coping with procurement irregularities that let sizable firms snatch small business awards and wrestling with outdated information systems. It’s a rough job, but someone’s gotta do it.

Every six months, this office releases a report that documents instances of borrower fraud or other sneaky behavior. Don’t even think about trying to pull a fast one–they’ll nail you with criminal charges and take away any chance you have at an SBA offer in compromise. Wondering what exactly gets you in hot water?

Well, here are some examples from their semi-annual report:

• A business owner bribed a bank employee and falsified their tax returns to score an SBA loan.
• A company lied about their size to win federal contracts designated for small businesses.
• Some sneaky individuals got their hands on a $2 million SBA-guaranteed loan by covering up a borrower’s lengthy criminal past.
• Someone cooked up spendy financial statements to snag over $4.86 million in SBA loans for his sinking businesses.
• People lied to a bank and the SBA to nail down an SBA economic injury disaster loan.
• An individual helped make fake tax returns used to fraudulently acquire SBA and non-SBA loans.
• A fraudster submitted phony information and records to the SBA, then used the loan proceeds for personal expenses, including a wedding in Cancun. Seriously, guys?

Answering Your SBA Loan Default Concerns

If this article’s got you sweating over your own SBA loan situation, don’t hesitate to give us a call at 1-212-460-5004. We’ll chat about your case and let you know how we can assist. Lawscape and the Lawscape are here to get you through, step by step.