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Facing a charge-off on your SBA loan can be daunting, especially after the recent closure of your business. A charge-off indicates that the lender has deemed the loan uncollectible through standard means, but this doesnt absolve you of the debt; collection efforts will persist.
Form 770 is the financial statement of debtor that is used by SBA servicing centers for actions that require current financial information for a specific borrower or debtor.
SBA Form 3508 is the document PPP loan borrowers must complete to request loan forgiveness.
What is an SBA Express loan? This term loan or line of credit offers fixed or variable SBA loan rates as well as the easiest SBA application process, quick approval times, flexible terms, and lower down payment requirements than conventional loans.
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