UPDATE OFFERS IN COMPROMISE (“OIC”) FOR SBA EIDL LOANS 04-22-2025

 OFFER IN COMPROMISE (“OIC”) FOR  SBA EIDL LOANS UPDATEIs the SBA accepting OIC applications for SBA EIDL loans? If you search online, you'll find conflicting answers. Most results indicate noYesterday I (Jim Shenwick, Esq) called the SBA EIDL Customer Service and spoke with a representative who said the following:The SBA were doing offers in compromise on a case-by-case basis on a loan-by-loan basis”.  They would provide me with no further information and my take away from the telephone call was that under the right circumstances and the right fact pattern the SBA would consider an OIC, however the SBA is looking for full repayment of SBA EIDL loans and they would be reluctant to accept discounted or reduced payments. Clients or their advisors with questions about SBA EIDL loans are encouraged to contact Jim Shenwick, Esq.Jim Shenwick, Esq  917 363 3391  [email protected] Please click the link to schedule a telephone call with me.https://calendly.com/james-shenwick/15minWe help individuals & businesses with too much debt!