Sba disaster loans florida Form 2021-2023

Yes, there is a way to u201cget out ofu201d an SBA Loan. There is a process called SBA Offer In Compromise (OIC). The OIC is specifically designed to give small business owners who have failed a chance to settle their personal guarantee. Once your business closes, and all the business assets have been liquidated, the bank/SBA will consider a settlement if you can demonstrate that you lack the ability to repay the debt in full. They require complete financial disclosure in order to determine whether an OIC is warranted.I have posted the most comprehensive post ever written on the entire SBA OIC process on my website. Just click on the link below to be taken there.Everything You Need To Know About SBA Default, Compromise, Collections, Forgiveness & More.

Quoting Instructions for Articles of Organization (FL LLC) :FILING ONLINE OR BY MAILThese instructions are for the formation of a Florida Limited Liability Company pursuant to s.605.0201, F.S., and cover the minimum requirements for filing Articles of Organization.Your Articles of Organization may need to include additional items that specifically apply to your situation. The Division of Corporations strongly recommends that legal counsel reviews all documents prior to submission.The Division of Corporations is a ministerial filing agency. We cannot prany legal, accounting, or tax advice.Limited Liability Company NameThe name must be distinguishable on the records of the Department of State.You should do a preliminary search by name before submitting your document.The name must include:Limited Liability Company, LLC or L.L.C., ORChartered, Professional Limited Liability Company, P.L.L.C. or PLLC if forming a professional limited liability company.Do not use or assume the name is approved until you receive a filing acknowledgment from the Division of Corporations.Principal Place of Business AddressThe street address of the LLCu2019s principal office.Mailing AddressThe LLCu2019s mailing address, if different from the principal address. (P.O. Box is acceptable.)Registered Agent Name and AddressThe individual or legal entity that will accept service of process on behalf of the business entity is the registered agent.A business entity with an active Florida filing or registration may serve as a registered agent.An entity cannot serve as its own registered agent. However, an individual or principal associated with the business may serve as the registered agent.The registered agent must have a physical street address in Florida. (Do not list a P.O. Box address.)Registered Agentu2019s SignatureThe registered agent must sign the application.The signature confirms the agent is familiar with and accepts the obligations of s.605.0113(3), F.S.If a business entity is designated as the Agent, a principal (individual) of that entity must sign to accept the obligations.If filing online:The registered agent must type their name in the signature block.Pursuant to s.15.16, F.S., electronic signatures have the same legal effect as original signatures.NOTE: Typing someoneu2019s name/signature without their permission constitutes forgery pursuant to s.831.06, F.S.Limited Liability Company PurposeA Professional Limited Liability Company (which is formed under both Chapter 605 and Chapter 621, F.S.) must enter a single specific professional purpose. Example: the practice of law, accounting services, practicing medicine, etc.Non-professional companies are not required to list a purpose, but may do so.Manager/Authorized RepresentativeThe names and street addresses of the authorized representatives or managers are optional.Manager: a person designated to perform the management functions of a manager-managed limited liability company. Use MGR.Authorized Representative: a person who is authorized to execute and file records with the Division of Corporations. Use AR. See 605.0102(8), F.S., for more information.A Manager or Authorized Representative may be an individual or business entity.Do not list members.NOTE: If you are applying for workersu2023 comp exemption or opening a bank account, Floridau2019s Division of Workersu2023 Compensation and your financial institution may require this information to be designated in the Department of Stateu2019s records.Effective DateAn LLCu2019s existence begins on the date the Division of Corporations receives and files your Articles unless your Articles of Organization specify an acceptable alternate u201ceffectiveu201d date.LLCs can specify an effective date that is no more than five business days prior to, or 90 days after, the date the document is received by our office.If you are forming your LLC between October 1 and December 31st, but donu2019t expect to transact business until the next calendar year, avoid filing an annual report form for the upcoming calendar year by listing an effective date of January http://1st.By specifying January 1st as the effective date, your LLCu2019s existence will not officially begin until January 1st of the following calendar year, even though your entity is already on the Divisionu2019s records.The January 1st effective date will allow you to postpone your LLCu2019s requirement to file an annual report form for one calendar year.SignatureMust be signed by at least one person acting as the authorized representative.If filing online: The authorized representative must type their name in the signature block. Electronic signatures have the same legal effect as original signatures.Correspondence Name and EmailPlease pra valid email address.If filing online: The filing acknowledgment and certification (if any) will be emailed to this address.All future email communications will be sent to this address.Keep your email address up to date.Certificate of StatusYou may request a certificate of status.This item is not required.A certificate of status certifies the status and existence of the LLC and verifies the LLC has paid all fees due to this office through a certain date.Fee: $5.00 eachCertified CopyYou may request a certified copy of your Articles of Organization.This item is not required.A certified copy will include a filed stamped copy of your Articles of Organization and will verify that the copy is a true and correct copy of the document in our records.Fee: $30.00 eachAnnual Report NoticeEvery LLC is required to file an annual report to maintain an u201cactiveu201d status in our records.If the limited liability company fails to file the report, it will be administratively dissolved.The filing period for annual reports is January 1st to May 1st of the calendar year following the LLCu2019s date of filing or, if listed, its effective date.The annual report is not a financial statement.The report is used to confirm or update the entityu2019s information on our records.

So, essentially, SBA loans are the best option for small business borrowing, because they are partially guaranteed by a government entityu2023 the U.S. Small Business Association. Because of this partial guarantee, the interest rates are low, the payment terms are long, and the loan amounts are high.That being said, SBA loans are the most difficult type of small business loans to qualify for. Your business will need 2+ years of business, 640+ credit, and $100,000+ in annual revenue.You can find more details about SBA loans here:Where to Find the Best SBA LoansHope this helps!

The wee word u2018toou2023 is crucial. Depends on where you are and what your business is all about: what state/country, what kind of products and/or services you wish to offer, potential clients?It helps if one has already some kind of (great or small) network IRL and/or online.

You have identified an important paradox in the bankruptcy laws. But it is constitutional. Congress has the power to determine which debts will be discharged in a bankruptcy case.Student loans were in fact dischargeable from 1979 to about 1994, providing the debt had been in a repayable status for anywhere from 5 years to 7 years. President Clinton signed legislation in about 1994 which brought us to where we are now, reversing and ending those reasonable, sensible restrictions.Here is the link to an interesting case history where I helped someone who was being hounded over a 1980 student loan. I wrote about it on my personal blog. And it gives a good chronology of the the dates when the various laws came and went. Student Loan Law - 37 Years Long Nightmare Ended.I think the change did not happen by accident. u201cFollow the moneyu201d, as they say. Until then, loans for u201cfor profitu201d privately owned vocational schools and colleges were dischargeable.The owners of those u201cfor profitu201d colleges saw a chance to make a lot more money by signing up more students. But they couldnu2019t get those extra students unless the colleges could help students obtain student loans to pay tuition to the college owners. The lenders who made student loans were not interested in the for profit college market.After passage of the 1994 Act, banks were falling all over themselves to make private student loans, because suddenly those loans were non dischargeable in bankruptcy, provided it was to attend a school of u201chigher education, u201d (not hairdresser schools, etc).One of the most politically powerful members of the US Senate is Diane Feinstein. Her husband was, (and still is) a major investor in for profit trade schools.The lenders correctly saw that many of those schools were providing useless education, and the graduates could not get good paying jobs. To cap it all off, the loans given to those students were dischargeable in bankruptcy. So, the school owners fixed that with another new law in 2023 that killed off the ability to discharge vocational school loans. That one really helped the Senator and her husband!

While SBA Loans are certainly one of the best loan options for small businesses, youu2019ll need to keep in mind the paperwork and processing that youu2019ll be required to do in order to apply for it. This will take a good bit of time and energy, and even after submitting this paperwork, you will have to wait for the lender to undergo a hefty amount of processing on their side as well.With all of this delay accumulated, youu2019ll be able to obtain an SBA loan within 3 weeks at the very least. Compare this to a minimum of 2 days of processing for a term loan or a minimum of 1 day of processing for a short-term loan.In the end, youu2019ll have to decide whether you want to prioritize the perks of an SBA loan (low down payments, long payment terms, and reasonable interest rates) or the celerity with which other, more costly loans are granted.Hope this helps, and good luck with your business endeavors!