EIDL Loans

Hi, and welcome! My name is Jason Milleisen, and I’m the founder of Distressed Loan Advisors. You can schedule a…

Jason Milleisen, founder of Distressed Loan Advisors, addresses seven common questions about EIDL loans and personal guarantees. He clarifies that lenders can’t add a personal guarantee after the loan is signed, and a personal guarantee doesn’t mean pledging personal assets like a home. He explains that selling a business doesn’t release the original borrower from liability, while filing for bankruptcy may include EIDL loans, though he advises consulting a bankruptcy attorney. Lastly, he notes that defaulting typically leads to enrollment in the Treasury Offset Program rather than lawsuits, unless fraud is involved.

Note: the article below is a lightly edited transcript of the video below. Hey guys, my name is Jason. I’m…

Hey everyone, Jason here, founder of Distressed Loan Advisors. If you’re looking to book a time with me, you can…

Want live one-on-one advice? Schedule time with Jason Milleisen, founder of Distressed Loan Advisors here. As we move into February…

Complete COVID Collections Act: What Borrowers Need to Know as it pertains to EIDL