u/Old_Improvement_2183

Selling a business

We have a substantial, EDIL loan with a personal guarantee and UCC 1 lien. We are ready to sell our business and we have a buyer. Proceeds would pay the loan off, but I can’t get a hold of anyone at the SBA to figure out how to proceed. The SBA says we’ve been turned over to treasury but the last notice we got said we had 60 days before being turned over to treasury so it seems that was premature. Any suggestions on how to move forward? We obviously need to have collateral released so we can move forward with the sale.

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