Franchises are a popular method for aspiring entrepreneurs to “launch” themselves into business. They come with a proven business model, marketing, operations, training, and a network of other franchise owners who are available to answer questions and provide guidance. Franchises are one of the fastest growing segments of […]
2011
SBA Default – Personal Guarantee – Can I lose my House?
I’m frequently presented with a situation where my client, a small business owner, has voluntarily given the bank (and by extension, the SBA), a lien on their home. And the key question my client asks is, “will they take my house?”
Unfortunately, there is no simple answer […]
SBA Offer In Compromise – How Do You Get The Bank to Accept Your Offer?
Many clients ask me this question…”how do you ensure the bank will accept the lowest possible Offer In Compromise?”
This is a good question, and the answer is not obvious or trivial. But first, let’s look at how the OIC process works.
The SBA Offer In […]
Does a Default on an SBA Loan Affect Personal Credit Score?
Good question…and the answer is “maybe”.
Depending on how you handle and deal with the defaulted SBA loan, it can have major negative ramifications on your personal credit for years. And, if you are forced into a bankruptcy as a result of the default, it can stay […]