Our trusted Ohio SBA loan default lawyer can be an important resource for business owners facing financial distress tied to Small Business Administration (SBA) loans. With more than 50 years of experience serving individuals, families, and small business owners, Gudeman & Associates, P.C. brings the knowledge and skill necessary to help you manage your legal and financial obligations. We offer a full range of services, including business planning, taxation, estate planning, and real estate law, and our attorneys are proud members of both the Michigan and American Bar Associations. If your business is struggling to repay an SBA loan, we invite you to contact us for a confidential consultation.
What Happens When You Default On An SBA Loan
Defaulting on an SBA loan can trigger a series of legal and financial consequences. Lenders may begin collection efforts, engaging in persistent phone calls and pursuing legal action. The SBA may also attempt to collect the balance by intercepting tax refunds and garnishing wages. These actions can severely impact your financial standing and ability to operate your business.
But our Ohio SBA loan default attorneys can help. Our team helps business owners review their loan documents and explore available resolution options. We can identify paths that align with your goals—whether you want to settle the debt, negotiate repayment, or protect your remaining assets.
Legal Options For Dealing With Loan Defaults
There are a few options for resolving defaulted debt, and we work with business owners to select the best legal strategy for their specific circumstances. Our SBA offer in compromise attorneys help clients submit proposals to the SBA requesting to settle the debt for less than the full amount. These offers must demonstrate financial hardship and a willingness to cooperate, so it’s important to fill them out and file them appropriately. Our attorneys work closely with clients to prepare complete and persuasive documentation to support their case.
We can also help by negotiating with lenders on your behalf. As your SBA loan workout attorney, we communicate directly with lenders to restructure repayment terms or pause collections while we work toward a long-term resolution. This can help reduce immediate pressure and help you on your path toward financial stability.
If you’d prefer to settle your debt, our SBA debt settlement lawyer will assist by negotiating directly with the SBA or third-party collectors. The goal here is to resolve your debt in a way that minimizes liability and avoids long-term financial damage.
If your default leads to legal action, we offer federal loan default legal advice tailored to your situation. We can aggressively represent your interests and respond appropriately to government collection efforts on your behalf.
Why Choose Us
As your dedicated Ohio SBA loan default lawyers, we know how overwhelming loan problems can be, and our goal is to reduce that burden by providing thoughtful, strategic legal support. We focus on long-term solutions—not just quick fixes—and we make sure your choices are based on clear information and sound legal guidance. At Gudeman & Associates, P.C., we’ve helped countless clients find stability after financial setbacks. If you’re struggling with an SBA loan default, reach out today to learn how we can assist.
