Jimerson Firm

NOVEMBER 5, 2020

If a borrower is experiencing difficulties making payments on their SBA loan, they may seek relief with the lender or CDC by requesting a loan modification or deferment. Borrowers must submit current financial statements, federal income tax returns for the last two years, and any additional supporting documents necessary.

Lender 78

Lender Loans Accrued Interest Collateral 78

Jimerson Firm

MARCH 19, 2021

When a lender holds a defaulted loan there are several issues that need to be considered before initiating a foreclosure. Lenders must ensure compliance with all relevant State and Federal laws and regulations to preserve their remedies for recovery. Florida State Laws. Foreclosures are a state law proceeding first and foremost.

Loans 98

Loans Foreclosure Lender Accrued Interest 98

Jimerson Firm

FEBRUARY 11, 2022

On July 15, 2021, the SBA issued its procedural notice regarding lender requests to the SBA for guaranty recovery of PPP loans. What should lenders do when borrowers can no longer make payments and associated loans are still outstanding? What Obligations Do Lenders Owe PPP Loan Borrowers?

Loans 52

Loans Lender Chapter 7 bankruptcy Bankruptcy 52

Collection Industry News

OCTOBER 17, 2023

“The 36% interest rate cap for active-duty servicemembers and their families has proven to be a highly effective measure in providing protection against predatory lending practices,” Grothman said in an email. The financial services industry remains largely opposed to imposing a ceiling.

Credit Unions 40

Credit Unions Credit Unions Accrued Interest Credit Card Debt 40