Many Arizona Business Loan lenders are willing to modify loans under the right circumstances. While there is no Federal Government program for Arizona Business Loan, most lenders are willing to renegotiate the terms of the loan to allow the borrower to retain the collateral (building, equipment, etc.) while reducing the payment through a reduction in the interest rate or an extension of the term. Similarly, unsecured business loans can be negotiated, and can even be settled in full for an amount less than the total debt.
The Butler Law Office has been very successful in these negotiations, which generally involve presenting the lender with the borrower’s financial information, including net income and expenses, assets and liabilities, and other relevant information.
We have succeeded in renegotiating various types of loans, including unsecured lines of credit, mortgages secured by business property, mortgage deficiencies, and equipment loans and leases.
Because The Butler Law Office also represents clients in bankruptcy, we have an “Ace in the hole” when it comes to negotiating with commercial lenders since most commercial loans can be modified in a bankruptcy proceeding. Lenders are sometimes more willing to come to the table when negotiating with a bankruptcy law firm.
The Butler Law Office has over thirty three years of experience and can help you make a decision that will be best for you!