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Our SBA Loan for $500,000 has been sent to the U.S. Treasury.
I was finally able to get through to the U.S. Treasury. I was told that I would need to submit a dispute with my case ID# to them at [email protected] requesting my SBA Loan to be recalled.
Once received they would forward it to the SBA for consideration.
Does anyone have an example or a template for submitting a dispute?
Are there any attorneys out there that would be willing to post some advice to help out some of the 10’s of thousands of small businesses currently being affected by this?
Thank you Reddit 🙏
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- 11 months ago
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You file the cross service dispute via fax and mail claiming you never received the 60 day notice from the SBA before charge off. If you had received it you would have taken necessary steps with the SBA to prevent default. The SBA has to send the letter but it's via regular mail. No signature required which is absolutely horse shit. The Treasury has 60 days to deny your claim which they absolutely will. Keep your fax confirmation. If they don't respond in 60 days you have an easier case. If they do respond they will deny saying their computer shows letter was sent. At that point you hire an attorney. Mine was $9500. The attorney gets with the sba attorneys and says look...my client didn't get letter and in 2024 the program for help is extremely easy versus the help offered in 2023. This is a form of loan processing discrimination. Also if the SBA takes it back once again they get their payments vs losing all the money. They'll haggle for a few months then they should take it back. Again, almost $10k in legal fees but no credit hit, collections or 32% treasury fee.
Good luck