What can you tell me about SBA loans and bankruptcy?

Answer by  birdybye (9)

If you're looking for an SBA loan, it is possible to get one even with a bankruptcy. If you're trying to file bankruptcy, you can include your SBA loan.

Answer by  Christian9247 (5042)

This is money which is lent through a bank to help set up a business. If a business files for Bankruptcy it does not have to pay this money back.

Answer by  salsafoodie (3146)

If you have these loans you may get them removed through bankruptcy. I would look into the final cost in order to get them all removed. I would also get additional information on how to get them removed from your credit report if needed.

Answer by  flamiss22 (5081)

SBA loans are guaranteed by the federal government so they are like student loans. They are not dischargeable in a bankruptcy.

Answer by  cherylb (125)

The SBA guarantees the loan to the bank for a small business. If the business were to go bankrupt, the business owner would be liable.