Back in 2010 we filed a Chapter 7 for personal and business. We got discharged, however we had our mortgage broker friend check our deed and come to find out we have a lien from the bank who issued us an SBA loan back in 2007, they never contacted us to ask for monies. Our house is under water, so I dont know what they think they can get. Our lawyer didnt say anything about a lien so this is news to us. Can we file a motion to re-open the case and ask the judge to discharge it again? I dont feel like we should have to do an OIC since it should have been discharged in the BK. Options?
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Government small business loans help put your own business within reach. First there’s the quest for a decent location, then comes building a customer base, followed by all the initial hiccups of generating a cash flow before your business grows roots and gains momentum. The beginning of a business is crucial because it’s when you gain or lose market credibility. If you disappoint your customers, they may not give you a second chance. If your business gets off to a rocky start (most do), and you believe you can recover but need further financing to make this happen, you can apply for government small business loans.
Without a doubt, Small Business Administration 7(a) loans are one of the best ways to finance your small business. They’re guaranteed by the federal agency, which allows lenders to offer them with flexible terms and low interest rates. Getting one can help you grow your business without taking on possibly crippling debt.
Small business loans are crucial to the success of small businesses. With the advancement in the alternative lending industry, traditional banks are no longer the only funding option. From working capital loans to business lines of credit to accounts receivable financing, small businesses now have access to many funding options through online lenders.
We’ve learned a thing or two by working with more than 70,000 business owners just like you. With OnDeck, you don’t just get money in your pocket, you also get credit resources, renewal benefits and, best of all, peace of mind.
HELLO MY FATHER TO OUT A SBA LOAN WITH NO SECURITY AND MY MOM NAME WAS SECOND ON IT MY FATHER PAST AWAY 2 YEARS AGO MY MOM TRIED TO CONTINUE TO PAY ON IT BUT GOT DEFAULT BECUASE SHE ONLY RECEIVED SOCIAL SECURITY AND COULD NOT AFFORD TO PAY NOW THE FORWARD TO THE TREASURE WHAT CAN SHE DO THEY TALKING ABOUT TAKING 150 A MONTH FRO HER SOCIAL SECURITY CHECK PLEASE LET ME NO WHAT SHE CAN DO
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Its best to retain one of the firms that specialize in resolving these SBA loans. If you will contact me, we can give you one free consulting session to discuss your situation and suggest some ideas. We can help you with this, but you need to contact me very soon. Please call me at 619-279-7522 or email me at [email protected].
My wife had a sba loan when she was younger and before we were married or even met. Her business closed 8 years ago and she owed about 35k on the loan with her mom as a partner as a LLC. We got married and she never did anything about the loan, her mom filled bankruptcy a few years ago. Last year our tax refund was kept by a collection company because of the old loan. Now she is facing bankruptcy and I am worried I might be liable for part of the loan through common law. Can a spouse inherit a debt for a defaulted sba loan?
We recommend working with Liberty SBF for SBA 504 loans. If you have a credit score above 680 (check here for free), you’ve been in business 3+ years, are profitable, and need more than $500k, speak with Liberty SBF.
Have a SBA disaster assistance loan on rental properties that is in default. Lost rental properties in foreclosure. Loan has been turned over to Treasury for collection. Recently received 10 day demand letter. Have reason to believe that lender may have violated Regulation B of ECOA – Spousal signature co-signer. Properties were purchased prior to Wife was never officer or member of LLC. Need help quick!
National Funding offers special opportunities for its customers to terminate contracts early and receive a discount in the process. Equipment Finance customers who pay off the total remaining balance early, at any point during the contract, will automatically receive a 6% discount off the total remaining balance. Working Capital customers who pay off the total remaining balance in full within the first 100 days of the contract will automatically receive a 7% discount off the total remaining balance. We do not currently offer a discount on our lease contracts. Customers must pay off the balance in full, be current, and in good standing to take advantage of the discount within the time parameters.
Hi, my name is Nancy delos Reyes. We have SBA loan with Bank of America. Since our business sales went down 2 years ago I have hard time paying my SBA loan payment every month. I have been late paying my loan since May 2011. I have try to do settlement with the bank but they don’t accept our offer. I am afraid of lawsuit and loosing my business or assets. Please give me some opinion what to do.
At Fora Financial, we want to see your business succeed. That’s why we make our business loan product flexible and personalized. Whether it’s terms up to 15 months or early payoff discounts as low as 10 cents on the dollar, our goal is to ensure that your business has the capital it needs. After receiving your financing, you’ll have unwavering support from our Customer Success Department, and access to our proprietary software. Then, if you need another business loan down the road, our Relationship Managers will be there to assist you every step of the way. Apply today, and see why over 15,000 business owners have chosen us!
Ehlers, yes the SBA can go after every guarantor individually for the full amount owed. If they do not get a proper OIC submitted they will pass it down to the US Dept. of Treasury. You do not want that to happen! Feel free to email me anytime. [email protected]
Section 179 tax deduction is a lucrative and important tax break that has been made permanent across the board, under the Protecting America from Tax Hikes Act (PATH Act). In most cases, the IRS allows your equipment lease or loan payments to be 100% tax deductible! You can secure the equipment, tools, and technology that you need, while also taking advantage of significant tax deductions — up to $500,000. Consult your tax professional for more details.
Robyn Smith, a lawyer with the National Consumer Law Center, a nonprofit advocacy group, has seen shoddy and inaccurate paperwork in dozens of cases involving private student loans from a variety of lenders and debt buyers, which she detailed in a 2014 report.
In her defense, Ms. Watson’s lawyer seized upon what he saw as the flaws in National Collegiate’s paperwork. Judge Eddie McShan of New York City’s Civil Court in the Bronx agreed and dismissed four lawsuits against Ms. Watson. The trusts “failed to establish the chain of title” on Ms. Watson’s loans, he wrote in one ruling.
Clear eligibility requirements: Though online lenders streamline the application process significantly over traditional banks, it’s still frustrating to start an application only to find out your business doesn’t meet minimum eligibility requirements.
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