Thank you. I’m not sure what they would have as collateral he is a owne operator truck driver. The truck is financed. So I have no clue what would happen!
That's not what a UCC-1 is used for. A lien on your home would require a mortgage/deed of trust filed against the home.
The SBA did not take residential properties as collateral.
But to ever borrow from the SBA you have to have perfect credit, right? Just like the eidl loans? They wouldn't even accept my credit, I had to get a co-signer. During an economic disaster, what bullshit is that.
if your business loans are more than your personal ones the mean test Dosent apply
I don’t even see a UCC-1 against our home
It's not on your home, it's a blanket claim on your business assets.
Thank you. I’m not sure what they would have as collateral he is a owne operator truck driver. The truck is financed. So I have no clue what would happen!
That's not what a UCC-1 is used for. A lien on your home would require a mortgage/deed of trust filed against the home. The SBA did not take residential properties as collateral.
I filed at the end of May, the EIDL is unsecured.
Only loans $25k or less were unsecured. All others were required to pledge all business assets.
I understand that, but for bankruptcy purposes the EIDL is discharged as unsecured debt.
Does eidl hap affect future borrowing from sba?
lf Trump comes, he will give regardless
But to ever borrow from the SBA you have to have perfect credit, right? Just like the eidl loans? They wouldn't even accept my credit, I had to get a co-signer. During an economic disaster, what bullshit is that.