Merchant Cash Advance Loan Default Protection

How to Protect yourself during a Merchant Cash Advance Loan Default

Recently Second Wind Consultants has seen a large influx of business owners overburdened with merchant cash advance loans and other forms of high-interest short term financing. Instead of one large monthly payment, these multiple, often daily, payments are strangling cash flow of an otherwise “stable” business. We have well-received articles on Defaulting on a Merchant Cash Advance Loan that have been well-received.

The most common profile is a ...

Continue Reading →

Successful Negotiation with the US Treasury Department

Successful Negotiation with the US Treasury Department

Federally backed loans in serious delinquency, past the point of collection by the primary lender, often end up at the US Treasury Department. This can include student loans, Federally backed agricultural loans, and as we often see, SBA backed loans.

If you are reading this article, chances are you once took on an SBA backed loan for your business, and things have not worked out as planned. The business is closed, and you ...

Continue Reading →

How Business Partner’s bankruptcy affects joint debts

How Business Partner’s bankruptcy affects joint debts

What Happens to Our Joint Debts?

When creating a business with a partner, few entrepreneurs truly understand how that act intertwines the financial positions of the partners, especially when debt is involved. No one ever thinks about this when business is going well or at the formation of the partnership, but what happens if your business is performing poorly or your business partner files bankruptcy? Where does this leave you?

Many owners ...

Continue Reading →

How to Improve Credit Score – Second Wind Consultants

 What Can You Do to Improve Your Credit Score?

Easy steps to rebuild your credit fast

Many of our clients come to us with very poor credit scores. This is a symptom of the small business owner leveraging everything they can to keep the operation running, including their personal credit.

While it is important to note that in the vast majority of SBA workouts, personal credit is not impacted, our clients are typically dealing with a variety of ...

Continue Reading →

Defaulting on a Merchant Cash Advance Loan

Defaulting on a Merchant Cash Advance Loan

In the years leading up to the 2008 financial crisis, small business owners had a consistent source of short term capital, their home equity. Rapidly rising house prices allowed them to borrow against their homes and put the money into their company to buy more inventory, fulfill a purchase order, hire more employees, etc.

Then things changed. The 2008 financial crisis crippled home equity nationwide and tightened lending standards. Business owners in desperate ...

Continue Reading →

Settle Debt with the US Treasury Department

Settle Debt with the US Treasury Department

In the world of SBA collection, there exists a name that inspires fear in debtors far and wide. If a lender is having trouble collecting, they tell a borrower they will send the matter off for collection in the “Treasury,” using the name like some taboo character parents use to scare children into behaving properly.

The federal government guarantees SBA debts in the event of default and, like all federally supported obligations, defaulted ...

Continue Reading →

Solution to SBA Loan Default – Second Wind Consultants

Solution to SBA Loan Default

An SBA loan is a loan to a small business that otherwise would not qualify for a loan through regular business lenders. The small business receives the funds because the lender’s risk gets mitigated by the Small Business Administration’s guarantee. If your loan goes into default, the government will cover the losses of the lender up to 90%. A great program to get our economy stimulated and likely responsible for the creation of ...

Continue Reading →

Can a Creditor Take My Retirement Money?

Can a Creditor Take My Retirement Money?

When faced with reduced revenues, increased overhead, and other market forces that put pressure on the cash flow of small businesses, many owners liquidate their personal assets and invest them into their business. They liquidate stock accounts, cash savings, sell other assets to raise cash, and even forego a paycheck. It is their passion and their determination that leads them to believe that they will get that returned money and more once ...

Continue Reading →

The Legal Defense for SBA Loan Default

The Legal Defense for SBA Loan Default

When a business enters into payment default and ultimately into a debt workout with its SBA lender, the SBA, and the bank often take legal action against both the borrower and guarantor on the loan. The lender will sue for breach of contract and pursue a judgment as the initial steps in foreclosure of the business and its assets. Judgments are awarded to creditors once they have sued a business and proven to ...

Continue Reading →
Page 4 of 6 «...23456