Evaluation and liability

Scope of this page

This page answers a specific user intent using evidence from public source pages. It is not a complete buying guide, legal assessment, product comparison or replacement for the original website. Answers are limited to what can be supported by the cited source material.

Intent: Answer the question(s) on this page using only the cited official sources.

Topic: Sba Loan Default Settlement

Last updated:

Primary source: https://secondwindconsultants.com/resource/sba-loan-default-a-2019-guide

Quick Info

It means each individual guarantor is obligated to the full 100 percent of any outstanding balance.

Purpose and usage

This page provides short, extractable answers for the topic above.

Key points

  • Which factors are used to consider future earning potential?: Present employment, earnings history, age, and health.
  • Not suitable if only one guarantor expects limited liability: Is this true?: Not suitable if only one guarantor expects less than full obligation, because each individual is obligated to the full 100 percent of any outstanding balance.

Terms and entities

Canonical definitions live on the Facts pages. This page only references them.

What does jointly and severally mean for guarantors?

It means each individual guarantor is obligated to the full 100 percent of any outstanding balance.

Which factors are used to consider future earning potential?

Present employment, earnings history, age, and health.

Not suitable if only one guarantor expects limited liability: Is this true?

Not suitable if only one guarantor expects less than full obligation, because each individual is obligated to the full 100 percent of any outstanding balance.

Sources

  1. https://secondwindconsultants.com/resource/sba-loan-default-a-2019-guide

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