The Small Business Administration (“SBA”) has been providing small businesses with loans since its creation in 1953. Its mission statement is “…to aid, counsel, assist and protect the interests of small business concerns, to preserve free competitive enterprise and to maintain and strengthen the overall economy of our nation.” It is clear that the strength of today’s economy is making liquidation of these loans more of a priority than in previous decades. Now, one of the most important pieces of information a bank should know about an SBA loan is how to properly liquidate it.
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Commercial Law & Contracts Updates
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