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SBA Loans: Wrap-Up and Charge-Off Procedures

February 5, 2021 Banking & Financial Services Industry Legal Blog

When a SBA loan is in liquidation status, lenders and authorized CDC liquidators are required to perform “Prudent Liquidation.” This means that lenders and authorized CDC liquidators must liquidate and conduct debt collection litigation in a “prompt, cost-effective and commercially reasonable manner, consistent with prudent lending standards, and in accordance […]

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