Liquidating sba loans
In addition, she has been a featured speaker at small business conferences, has been a member and Vice Chairman of two SBA Advisory Councils and was a member of the NAGGL Region IV Liaison Committee.Address: 6340 Sugarloaf Parkway, Suite 200, Duluth, GA 30097 [ Email ] Direct Phone: 404.334.8610 Primary Lending Area: North Carolina / South Carolina Ellie Mc Intire expanded the Bank’s lending area by establishing an SBA office in the Charlotte market, servicing both North and South Carolina.Even though in a majority of cases, the liquidation plan will not require review and approval by SBA, it is a document that SBA expects to see in a well-documented loan file and a necessary step in the proper liquidation of a SBA Loan.On 7A loans, the only liquidation plans that require review and approval by SBA are those loans made by CLP lenders.Liquidation can also refer to the process of selling off inventory, usually at steep discounts.It is not necessary to file for bankruptcy to liquidate inventory.If your bank needs assistance or has questions about liquidation plans, please do not hesitate to contact Prudent Lenders at you can contact me directly at [email protected]
Lerch Early will be holding a seminar on the updates; please email Anne Core at [email protected] you’d like to be included on the invitation list.She has extensive knowledge in all aspects of SBA lending including, 7(A) and 504 loans. Battle has a proven track record in commercial and small business loan production, servicing, liquidation and secondary market sales.She has managed corporate and regional SBA Departments for large banks and has also managed the SBA Divisions of several small community banks.It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they come due. Not all bankruptcies involve liquidation; Chapter 11, for example, involves rehabilitating the bankrupt company and restructuring its debts.As company operations end, the remaining assets are used to pay creditors and shareholders, based on the priority of their claims. The business is no longer in existence once the liquidation process is complete.
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Ellie has over 30 years in the banking industry with 25 of those providing small to medium size business financing through conventional bank loan products and SBA loan programs.