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Don Todrin's Topic this week:
"The Offer In Compromise for Small Business Administration Guaranteed Loans"
The Offer In Compromise is a Small Business Administration (SBA) program which guarantees the lending bank from 50% to 90% of its losses should a guaranteed loan go into default.
The bank cannot and will not reduce principle.
The SBA can and will reduce your guaranty payoff. The Offer In Compromise is their program.
The Offer In Compromise is an integral part of any business debt workout that we do here which includes a Small Business Administration guaranteed loan.
