Roles of an SBA Attorney
The Small Business Administration contributes an important role in promoting the growth of small businesses all over the country. The Small Business Administration contributes an important role in promoting the growth of small businesses all over the country. In a business matter, there are some scenarios which a lawyer can get involved. A lawyer can help in many ways such as drawing up contracts, assisting in incorporation process and representing you in case of litigation. There are some legal business issues that you cannot handle without an attorney, but there are others that you can opt to handle independently.
It is important to consult with an attorney to determine the complexity of the needs of your business and how to continue on most of these issues because every business is unique. A business’ more complex issues need a lawyer. Formation of a corporation which has shareholders and board is a complicated process will need legal help from an attorney. A corporate lawyer will come in handy in administrative matters of tax and legal requirements. Evaluation of your product and understanding what a patent attorney will assist rights you will achieve in case you are filing a patent.
Consideration should first be put on whether by patenting your products will give you a big market advantage. In case of litigation, you will need a lawyer to assist you in solving the issues legally. What may be included in litigation are lawsuits such as; discrimination, harassment, those by former or current employees and customers, environmental and government investigations for legal violations. Lawyers can help with negotiations of lease and sales agreements when you want to buy or sell a business.
Existence of most businesses would not be if it were not for SBA loans because they operate most of them. The main loan programs that are offered by SBA are 504 loans and 7(a) loans. Large projects and assets are managed by SBA 504 loans. Activities that can be used by the money given are; purchasing real estates for commercial purposes, acquire and develop property, purchase equipment and start, expand or improve businesses. Use of SBA 504 loans should not be for stock purchasing, working capital and payment of debts. The guarantor comes into play more prominently in case SBA 7(a) loans are defaulted because it mostly goes into things that are not collateralized easily.
There are some attorneys that are skilled at negotiating and settling SBA loans by understanding the process and options available. A lawyer negotiated SBA loan settlement can help you settle a debt without becoming bankrupt. Though not easy, negotiating large reductions in 504 and 7(a) loans is possible. You can get financial recovery through the help of a lawyer who is skilled and who has experience through going through the process.