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 […]
Bank Debt
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 […]
What Happens When You Default on SBA Loan?
What happens to my SBA loan when my business fails?
So your business is struggling, and you are wondering, what happens to my SBA guaranteed business loan?
What indeed…
Let’s answer that question by first understanding what the SBA guarantee actually means. The guarantee is actually for […]