An SBA Guaranteed Loan Workout





I speak with people all the time that decide to do it themselves. They figure they can fill out the forms themselves and save the fee, so why pay for expert opinion to represent them in negotiating a workout, ‘after all what could be the big deal, I have nothing to give them.’ How wrong could one be.


No matter what you have heard, defaulted SBA guaranteed loans can be resolved favorably for the borrower.

Friday, April 2, 2010

SBA Loans: Ownership. What Does It Mean?


Ownership: a quality we all look for in an outstanding employee, partner, manager, leader or boss. The person who “takes ownership” is one who makes a full personal investment in a cause. This is a person who makes the mission (i.e. achievement of the goals subscribed to) a mission of personal importance, committing to do more than his best but also rising to the needs of the situation, whatever they may be. It involves creativity, decisiveness, leadership, accepting responsibility (without being asked), decision-making in the face of changing circumstances and sensitivity (if required). The person who takes ownership will be whatever is needed to succeed at any given moment.

Many do their job, very well even, but still wait to be told, wait to be reviewed, taking few chances while still doing a damn good job. This is not “ownership”. These people may make great employees, but not ones who will solve problems and forge ahead despite barriers.

Ownership means caring more about the outcome than the collateral issues and doing whatever it takes to succeed. Avoiding excuses, accepting full and complete responsibility, owning the results… this is ownership, a personal commitment beyond dedication and completing the task with excellence. Caring about the outcome, not for personal gain but because the goal is important and you. Owning the outcome: a willingness to sacrifice self for the cause, relentless pursuit of success, victory and accomplishment… breaking through every barrier imaginable.

This is what heroes are made of. This is what it means to “take ownership”. We have our own language to describe this attitude, it goes like this:

“Take no prisoners… eat the wounded.”

That’s ownership to the max. This is our standard. We own our results. Nothing prevents us from succeeding and every person in our SBA loans consulting company subscribes to this standard.

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