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Monthly Archives March 2013

Refinancing Credit Cards issued in the Personal Name

Posted by Prudent Lenders in Blog with No Comments

SBA seeks to increase financing to “small businesses” and not individuals. This line becomes blurry when small business owners are seeking to refinance loans held in their personal name. While, in many cases, there was a legitimate reason to have the loan be made in the personal name (instead of the business name), it can […]...

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Early Defaulted Loans and Denial of the Guaranty: the “Rebuttable Presumption”

Posted by Prudent Lenders in SBA 7(a) Lessons Learned – SBA Question? - Ask the Experts with No Comments

If a borrower defaults within 18 months of initial disbursement (or, if the final disbursement was made more than 6 months after the initial disbursement and the borrower defaults within 18 months after the final disbursement), the SBA considers the loan an “early default”.  The date of default is generally determined by the first uncured [&he...

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