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What is an offer in compromise SBA loan?

What is an Offer in Compromise? An offer in compromise is an offer by the borrower to pay a portion of what is owed on the SBA loan, in exchange for the SBA to consider the debt settled or satisfied.

What is SBA OMB Number?

If you have questions about this application and how to submit it or problems providing the required information, please contact our Customer Service Center at 1-800-659-2955 or disastercustomerservice@sba.gov.

What is a 770 form?

SBA Form 770 is a form used by the Small Business Administration (SBA). It is also known as a Financial Statement of Debtor. The SBA provides payment plans to their debtor. This form records information about the debtors financial situation to help the SBA determine a payment plan that the debtor can afford to repay.

What is a SBA Form 770?

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. Related programs: 7(a), CDC/504, Disaster.

Is SBA Form 912 still required?

Who Needs to Fill out SBA Form 912? If youre applying for an SBA loan, its pretty much guaranteed that youll need to fill out a Statement of Personal History. SBA Form 912 is required for most types of SBA loans, including the two most popular SBA loan programs: SBA 7(a) and SBA 504/CDC.

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How do I fill out SBA EIDL personal financial statements?

Follow these steps to complete SBA Form 413. Step 1: Gather financial documents. Step 2: Select your loan or contracting program. Step 3: Fill in personal and business information. Step 4: Add your assets and calculate their total value. Step 5: Add your liabilities and calculate their total value.

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