Innovative And Trustworthy Small Business Administration Defense
If you are experiencing financial complications as a small business owner and are struggling with the payments of your loans, you need legal assistance immediately. Otherwise, you could be facing audits or criminal accusations of fraud.
At Goldburd McCone LLP, we have represented clients’ rights in situations like the one you face since 1983. We provide services to clients in the U.S. and abroad from our offices in New Jersey, New York City, Long Island, Florida and California. Our goal is to provide highly sophisticated and personalized solutions and strategies to address their current situation.
Knowledgeable Attorneys To Address Your SBA Defense Needs
If you default on a Small Business Administration (SBA) loan, you must act quickly to alleviate your debt. To obtain an SBA loan, you sign an SBA loan guarantee, allowing lenders to recover 100% of their money. Therefore, if you do not have sufficient liquidity to pay back, lenders can foreclose on your home, seize your assets, and garnish your wages and the property of those who signed the guarantee with you.
Applying for bankruptcy may not release a loan beneficiary from the SBA’s lien, but you have options as follows:
- For early on default, we will explore all avenues to solve your debt, such as a debt workout or repayment plan.
- We can help you apply for the Offer In Compromise (OIC) Program. After assets liquidation, you may negotiate to pay less than the original amount owed from the remaining debt. In some circumstances, the SBA Offer In Compromise can lead to the forgiveness of a debt.
We will also assist you in answering an SBA demand letter and building a solid case to fight back. Let us help you explore your options to navigate these difficult times.
Customized Legal Solutions For PPP And EIDL Programs
The 2020 pandemic outbreak posed challenges to small businesses. To help companies overcome their economic difficulties, the government created programs such as the Paycheck Protection Program (PPP) and the EIDL (Economic Injury Disaster Loan).
If you were a beneficiary of the PPP or EIDL programs and are falling behind your payments, you need to act quickly. Failure to promptly comply with your payment obligations could lead to prosecution and harsh penalties.
Our experienced lawyers will explain your options and whether you are a candidate for PPP or EIDL forgiveness programs. We will also review in detail your situation, from the application process to the accusations you face. Rules around these programs are complex, but we will explore all potential avenues to build strong arguments to defend your business, assets and rights.