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Since 2009, DLA founder and former bank VP Jason Milleisen has saved small business owners just like you millions of dollars through successful Offer In Compromise negotiations.


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SBA Loan Default Experts

Distressed Loan Advisors offers assistance to borrowers who fear the consequences of defaulting on SBA loans.  While we are not SBA attorneys or lawyers, Jason is a former bank vice president, and oversaw a SBA delinquent loan portfolio at the height of the “great recession” in 2009.  This experience taught Jason what the SBA wants to see, and how they want to see it. At first glance, SBA form 770 and 1150 seem simple enough to complete, but the truth is that there are certain things the SBA wants to see.  The key to avoiding serious SBA default consequences is not simply to tell your “sad” story. The SBA has heard it all before, and they don’t simply let people walk away because they got a bad break. Rather, the SBA OIC process is a borrower’s opportunity to make their case as to why an SBA Offer In Compromise makes sense for everyone involved.  When you retain Distressed Loan Advisors, you get insights from a person who has presided over hundreds of OICs, and saved clients millions of dollars.

Jason help his clients work through the tough questions that inevitable arise such as:

–    How much should I offer to settle my SBA loan?

–    What are the consequences of defaulting on an SBA loan?

–    Am I at risk of the bank or SBA foreclosing on my home?

–    Will it hurt my personal credit score if I settlement my SBA loan?

These are just a small sample of issues that Jason’s assists clients with.  Every situation is unique, but Jason has the experience and insight to help you work through yours.

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SBA Loan Default – Why Settle?

So your dream of having a successful business have perished (for now at least).  You’ve made the difficult decision to close your doors for good, as your losses have mounted, month after month.  After much soul searching, you have conferred with business partners, advisors, and your family, finally reaching the conclusion that the current version of your business is a far cry from what you imagined it would be.  Bottom line: It just ain’t worth it any more.

Unfortunately, closing your doors is only one small part of this process.  When you took that business loan to finance your business, you signed a personal guaranty.  That guaranty states unequivocally that you will personally repay the loan in the event that the business cannot.  Of course, that business was your sole source of income, so there is no way you can continue to make payments on it.

So now what? (click to read more)

Why The “Average” Settlement Amount Won’t Predict Your Outcome

The most common question I get is “How much can I settle for?”  When I explain that it depends on a number of highly personal factors, the next question is “well, what’s the average settlement?”  I then go on to explain that giving them an “average” won’t really be a good predictor of their settlement outcome.  Here’s why: (click to read more)

SBA Default Consequences: Bad Stuff That Can Happen

Like me, many of my clients are “bottom line” thinkers so the second question they typically ask me (the first being “How much can I settle for?”) is:  What can they do to me if we don’t reach a settlement?  So here are some answers, in Q&A format:
(click to read more)

I Need An Attorney To Handle SBA Default, Right?

I got a call from a guy who was looking for an attorney.  When I told him that I am not an attorney, but rather an SBA Workout Consultant, his response was “Oh, well thanks, but we really need an attorney.”  I went on to question him about his situation, and he told me that he was 3 months late on him SBA loan and the bank had not granted him a modification.

“So, why do you feel that you need an attorney to help with a modification?” I asked.

“The bank has threatened foreclosure!” he responded.
(click to read more)

SBA Offer In Compromise: How To Close A Business

If you are reading this blog and thinking to yourself “great, you can help me settle my debt, but how do I close my store?”, this is the article for you.

Just like opening a business, closing a business requires a plan.  The difference between closing with a plan and closing without a plan is similar to the difference between jumping out of an airplane with or without a parachute:  you are going down either way, but careful planning can be the difference between crashing in a fiery heap versus gliding to a smooth landing.

Some tips to avoid that fiery crash:

(click to read more)

Can I Sell My Business To My Friend and Buy It Back Later?

Lately, I have been getting a lot of calls with a similar theme, so I figured I would offer my thoughts for all to read again (I have addressed this issue is past articles).  Most of the calls about this particular topic go something like this:  “I talked to this other consulting firm who claims the right way to do an OIC is to sell my business to a friend, a business associate, or a corporation owned by me.  Something about that doesn’t sound right, so I wanted to speak with someone else who offers these kinds of services.”
(click to read more)