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Whether the debt is an SBA guaranteed debt or not, any company that is crushed and driven out of business by its debt load is of no use to anyone.
*The secured lenders are placated by the liquidation of the assets, but there is nothing left for others.
*The business space is vacant.
*The employees are out of a job and 'collecting'.
*The vendors no longer have a customer -and some may be forced out of business themselves!
*The owner is forced into bankruptcy and into losing the assets they had spent their working lifetime acquiring.
Secured Debt. Unsecured Debt. Landlord Debt. Equipment Lease Debt. Credit Card Debt. Franchise Debt.
It's good to talk.