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Author: Brandon C. Meadows, Esq.

SBA Loans: How to Maximize Recovery by Liquidating Personal Property

November 23, 2020 Banking & Financial Services Industry Legal Blog

When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. Lenders must liquidate all personal property that has a Recoverable Value over $5,000. If the Recoverable Value is over $5,000, the lender must decide which method of liquidation is the most […]

SBA Loans: How to Maximize Recovery by Liquidating Real Property

November 13, 2020 Banking & Financial Services Industry Legal Blog

When a small business association (“SBA”) loan is converted to liquidation status, the lender must begin liquidating the collateral. Lenders must liquidate all personal property that has a Recoverable Value over $5,000. If the Recoverable Value is over $5,000, the lender must decide which method of liquidation is the most […]

What Responsibility and Authority do SBA Lenders Have in Servicing and Liquidating Loans?

November 2, 2020 Banking & Financial Services Industry Legal Blog, Florida Business Litigation Blog

Lenders are responsible for servicing and liquidating all of the 7(a) loans in their portfolio. CDC’s are responsible for servicing 504 loans in their portfolio, but they will only be responsible for liquidating the loan based on its designation. Lenders and CDC’s must be cognizant about their responsibilities and authority […]

How SBA Lenders Ensure Expense Recovery in Loan Liquidation and Litigation

October 28, 2020 Banking & Financial Services Industry Legal Blog, Florida Business Litigation Blog

Lenders should be cognizant about what expenses are classified by the SBA as recoverable or non-recoverable. The SBA does not pay for non-recoverable expenses, such as any fee or cost incurred that was not necessary, reasonable or customary. In addition, the SBA does not pay for legal expenses for non-routine […]

Classifying SBA Loans in Liquidation Status

June 29, 2020 Banking & Financial Services Industry Legal Blog

Lenders, including 7(a) lenders and Certified Development Companies (“CDC”), must be proactive in recognizing when a loan should be classified in liquidation status, and understand the necessary steps in the liquidation process. Lenders who act promptly and follow the necessary steps in the liquidation process will maximize collateral recovery, limit […]

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