Well I've been trying to post for a few weeks now but so much I want to say that end up procrastinating... live and work in North Carolina.
I have a failing Small business with about 650k in debt. I keep having to borrow to make it work and just decided to take my life back and stop...
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Looking for advice LLC with about 600k debt wanting to close down. Options.
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What happens if I default on a SBA business loan?
What happens if I default on a SBA business loan? I own a business in Texas and I can no longer afford to make the monthly loan payments. The loan was issued by a local bank and its a SBA loan. I am one of four people who is a "guarantor". What does this all mean? Can the bank come after... -
SBA Loan Foreclosure
If there is very little equity in the home. (maybe $30,000) and there is a first and second to the primary mortgage company and an SBA lender has a lien behind that. What are the chances that the SBA lender will be able to force a foreclosure?