Most people go through life with little to no interaction with the bankruptcy court system. Those that do are usually voluntary players, like individual debtors who choose to file a bankruptcy case or lenders who know that losses are part of the business. However, sometimes a small business or an individual is pulled into someone…

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The Small Business Administration (SBA) is an agency in the US Government that provides loan guaranties to banks that allows them to provide financial help to small businesses. This lets lenders give loans to small businesses that might otherwise be too risky without this additional level of insurance. The most common SBA loan is called…

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No one starts a business with the intention of having it stumble or fail. But mistakes happen – whether by accidental missteps or economic conditions – and not all businesses are profitable. Here are ways that bankruptcy might correct or mitigate mistakes made by small business owners: 1) Reorganizing tax debt One very common misstep…

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