SBA CHARGE OFF OR WRAP UP REPORTS
Once all liquidation efforts have been completed, your financial institution must request the SBA to charge-off the loan. Kresser, Corona & Associates has submitted 100’s of charge-off tabs (Wrap-up Reports) on behalf of many of our clients.
Charging -off a loan might look like an easy task, but in many cases if not completed correctly it could threaten your guaranty. If a properly detailed narrative identifying the many different circumstances and intricacies that are unique to each loan, are not well defined you run the risk of jeopardizing your guaranty.
Kresser, Corona & Associates is an expert in this field due to the high volume of charge-offs submitted to the SBA. We have the ability to mitigate any potential concerns to assure your guaranty is intact. Do not leave this last action to chance by having unqualified personnel submit your charge-offs.