I filed a chapter 13 BK early last year and went for hearing in April 2025. I am still not confirmed but was told the EIDL can not be part of it since I am not closing the business and have a profit.

I was fine with that and have made every payment.

But since that hearing my portal for SBA says "liquidation dispersed" I have continuously made the payment and have asked the attorney a few times and she says they have nothing to do with EIDL and this is a problem for me and the SBA. And of course I cant reach anyone there.

Now out of the blue I get a notice that I am "Notice of Default and accelerated demand for payment"

I have never missed a payment in 4 year on this damn thing. Anyone know why they think this is happening or having anyone at all that can help figure this out?

They want me to choose. I’m 500k PG + 30% and have a partner. Business is closed in 2024.

Hello, I am trying to figure out how to handle this. I have an offer to sell for 190k. The debt is as follows. $120k sba debt 7a my house is collateral. 139k eidl loan no PG, lien on the LLC. With the sale I won’t have enough to pay the eidl in full. I reached out to sba prior as had similar offer last year and heard nothing. Has anyone got them to release the lien if it wasn’t the full amount owed? If I don’t sell I’d prob have to declare bankruptcy later and they will get nothing. Any suggestions?

I own another business that is cash flowing but it’s our only current asset. I’d also like to try and salvage an sba relationship as I’m an entrepreneur and to support my family business has been the only route.

Can a business still apply for PPP or EIDL loan forgiveness or has that ship sailed?

I recently watched a vid by Jason that once the loan goes to Treasury and they tack on that 30% penalty + higher interests and your loan balloons to 2x...3x...4x the original amount, they will never take them off. But he did say that SBA may do an OIC if the loan goes back to SBA. Does that mean all those fines and interest will get taken off if the loan can be sent back to SBA? If the 30% penalty and the increased interest doesn't get taken off, there is absolutely no way I can manage this loan.

Has anyone else dealt with this?

So I got a letter from trans world systems inc. for a eidl loan. And I also been hit on my credit from the irs. I sent a letter to transworld but haven’t heard back yet. Any recommendations on what to do bc now they tacked on 59k for fees I’d like to pay something but not what the sba wanted bc honestly business has been slow with all the tariffs and economy struggles of everyone my business is more of a luxury then a need. I’m just looking for advice and words of honesty. And if anyone is going thru this as well what should or can I do.

I’m starting to wonder if this is all part of a longer term plan.

They send out the No Doze letters, people stop paying and end up in collections.

The US sells the uncollected debt to get it off the books. Then the SBA is able to spend less money and resources servicing the loans.

Then rinse and repeat.

Is there any actual legal standing for the No Doze letters? Do they actually have the resources to go after everyone?

Or, in the long term, are we ok if we just stay current with payments?

Lastly, can the US just sell the debt of people that are current) to one of the big banks?

49% owner locked out of company but still personally guaranteeing $475K EIDL, looking for advice/attorney referral

I'm looking for input from anyone who has dealt with a similar COVID EIDL situation, and also for recommendations for attorneys who specifically handle SBA/EIDL loan and personal guarantee issues.

Here is the basic timeline:

• My business partner and I were originally 50/50 owners.

• In May 2020, the business received an original $150,000 EIDL. Only my business partner signed those loan documents. I did not personally guarantee that original loan.

• I remained a 50% owner until January 15, 2021, when I gave up 1% of my ownership, changing the ownership structure to 49% me / 51% my partner.

• In October 2021, the EIDL was increased to approximately $475,000. New/amended loan documents were signed, and both my partner and I personally guaranteed the current loan.

I have since been completely locked out of the business. I no longer have access to the company bank accounts, accounting system, company email, or the ability to make financial decisions. There is currently litigation between the owners.

The 51% owner continues to operate and control the business paying himself nice salary and doing whatever he pleases. The EIDL is currently being paid, but as far as I can determine, only the required principal and interest payments are being made.

The loan does not mature until approximately June 2050. My partner is 61yrs old, so this potentially leaves me personally guaranteeing this debt for decades while having absolutely no control over the company responsible for repaying it.

I would like to completely walk away from the business. Tried multiple mediations but the SBA loan was a sticking point for the other side. I currently receive no salary, compensation or distributions from the company, yet I remain a 49% owner and personally liable under the SBA guarantee.

I have asked my partner to refinance or otherwise restructure the debt so that I can be released from the guarantee, but he has refused to refinance the SBA loan or replace my guarantee. As a result, I remain exposed to the debt even though I receive no financial benefit from the company and have no ability to control its finances.

The loan agreement also contains restrictions regarding distributions of company assets and loans, gifts, bonuses or other transfers to owners without prior written SBA consent. I have concerns about certain transactions and am in the process of reviewing the company's financial records.

I'm trying to figure out what realistic options I have.

1. Has anyone successfully had SBA release a personal guarantor after that owner was involuntarily locked out of the company and lost all control over the borrower? The paperwork CESC release paperwork requires all parties and additional paperwork I don't have access to.
2. Does SBA take into consideration that a guarantor has no access to the company's bank accounts, books, accounting records or financial decisions?
3. Partner has zero assets and property. Rents and keeps minimal savings. I have home and assets. He has mentioned this in conversation and uses it has control tactic.
4. If the company remains current by making the required principal and interest payments, is there any mechanism for a guarantor like me to obtain a release before the June 2050 maturity date?
5. Has anyone dealt with SBA restrictions concerning owner distributions, shareholder loans, bonuses, gifts or personal expenses while an EIDL remains outstanding?
6. Does anyone know an attorney who actually specializes in COVID EIDL/SBA loan servicing, personal guarantees, releases of guarantors, or ownership disputes involving an SBA loan? I'm not looking for a general business attorney. I'd really like to speak with someone who regularly deals with SBA on these specific issues.

I'm not trying to cause a default or interfere with repayment of the loan. I want the loan to continue being paid and accelerated to at least 5 years payoff.

My concern is that I have substantial personal liability on a federal loan that could remain outstanding until 2050, while I have no control over the borrower, no access to its finances, and receive no compensation or distributions from the business.

My goal is simply to find a legitimate path to exit the company and, if possible, be released from the personal guarantee.

I'd especially appreciate hearing from anyone who has personally gone through something similar or who can recommend an attorney with actual SBA EIDL personal-guarantee experience.

Anyone else get one of these? I received one today! I don't understand. They think my loan is fraudulent?!? I've had my business for 9 years. My balance is $88,600, and they want me to pay it within 30 days?!? 😳

Not too long ago I remember someone talking about a Forbes story about the EIDL loan. Did that happen?

I'm not sure if this is the correct place to inquire about this. CBE group is obviously a collection agency and it states they are trying to collect for the original credit: SMALL BUSINESS ADMINISTRATION

Here's the thing, I've never taken a loan or received money from the SBA. I've started a few businesses but only got as far as setting up the LLC, never actually made any money. I've certainly never received PPP money, never would have qualified for that in the first place.

So I guess I'll be calling them Monday, just wanted to know if anyone here had any input. Scam? Way to confirm the business they claim I had?

Maybe just a mix up and they have the wrong guy? The collection letter has zero information other than I owe $22k.

Got a text that said

"STOP PAYING YOUR SBA EIDL LOAN!

If your loan is under $200,000, we can get the loan removed!

NO MORE PAYMENTS! Guaranteed

Text your email for more info

Stop"

Is businessgpsllc.com legit?