Fillable OFFER IN COMPROMISE SEE INSTRUCTIONS ON BACK OF (U.S. Small Business Administration)

Fill Online, Printable, Fillable, Blank OFFER IN COMPROMISE SEE INSTRUCTIONS ON BACK OF (U.S. Small Business Administration) Form

Use Fill to complete blank online U.S. SMALL BUSINESS ADMINISTRATION (DC) pdf forms for free. Once completed you can sign your fillable form or send for signing. All forms are printable and downloadable.

OFFER IN COMPROMISE SEE INSTRUCTIONS ON BACK OF (U.S. Small Business Administration)

On average this form takes 3 minutes to complete

The OFFER IN COMPROMISE SEE INSTRUCTIONS ON BACK OF (U.S. Small Business Administration) form is 1 page long and contains:

  • 0 signatures
  • 0 check-boxes
  • 12 other fields

Country of origin: US
File type: PDF

U.S.A. forms for U.S. Small Business Administration

BROWSE U.S. SMALL BUSINESS ADMINISTRATION (DC) FORMS

Related forms
Fill has a huge library of thousands of forms all set up to be filled in easily and signed.
Fill in your chosen form
Sign the form using our drawing tool
Send to someone else to fill in and sign.
find another form
 
U.S. SMALL BUSINESS ADMINISTRATION
OFFER IN COMPROMISE
NAME AND ADDRESS OF OBLIGORS
(proponents)
NAME AND ADDRESS OF BORROWER
SOCIAL SECURITY NUMBER(S) LOAN NUMBER LOAN BALANCE
SEE INSTRUCTIONS ON BACK OF THIS FORM BEFORE COMPLETING
1. This offer is submitted by the undersigned to compromise a claim of the Small Business Administration resulting from a loan to the above
borrower which is now fully due and payable and for which I (we) am alleged to be liable.
2. In full settlement thereof I (we) hereby make the following offer:
3. The following facts and reasons are submitted as grounds for acceptance of this offer:
4. It is understood that this offer will be considered and acted upon in due course and that it does not afford relief from the obligation sought to be
compromised unless and until it is accepted in writing by The Small Business Administration and there has been full compliance with the
terms of the offer.
With knowledge of the penalties for false statements provided by 18 United States Code 1001
($10,000 fine and/or five years imprisonment)
and with knowledge that this proposal is submitted to affect action by the Government; I (we) declare that I (we) have examined this offer,
including accompanying schedules and statements, and to the best of my (our) knowledge and belief, it is true, correct and complete.
SIGNATURE OF PROPONENTS (Person(s) making the offer)
SIGNATURE DATE
SIGNATURE DATE
SBA Form 1150 (11-77) REF: SOP 5051
This form was electronically produced by Elite Federal Forms, Inc.
COMPROMISE OFFERS
BASIC CHECKLIST
Instructions for Presenting Offer:
The offer made in item 2 should be clear and concise. Dollar amounts be given first followed by an indication of any
concessions anticipated from the Agency (release of lien, etc.). Lump sum paym ent is the preferred method of
concluding a compromise settlement. Special requirements may apply to installment payment settlements (i.e.,
confess-judgment note, etc.).
Provide in Item 3, the basic reasons as to why a compromise settlement is necessary.
Provide, as an attachment hereto, a reasonably current, complete, sworn statement of income and expenses on SBA
Form 770, "Financial Statement of Debtor, All transfers and/or acquisitions of real property and major items of personal
property since the date the debt to SBA was created must be itemized. Show names and addresses of transferees,
relationship to obligor (if any) and the type, amount and disposition of any consideration received.
In case referred by the Department of Justice, a copy of DOJ Form DJ-35, "Financial Statement of Debtor" may be utilized
instead of the aforesaid SBA Form 770. In such cases, a statement of any beneficiary status under a pending
inheritance or an established trust should be included as an attachment thereto.
Elements of a Workable Compromise Offer:
1. Amount offered bears a reasonable relationship to the net amount recoverable through enforced collection.
2. No fraud or misrepresentation.
3. Full disclosure of financial capacity of obligor(s) has been made (SBA Form 770, etc.).
4. Borrower has ceased operations and all business collateral (assets) has been liquidated.
5. Participating bank, if any, concurs in the action.
6. Valuations provided for realty mortgaged to SBA or subject to judgment by SBA are supported.
7. Source of funds for payment of the offer clearly identified.
The items identified above are for general information and are provided primarily to assist in the proper development of a
compromise package. While most cases can be decided using this "generally applicable" information, the Agency is not limited
to these factors in any given matter.
SBA 1150 (11-77)
Download
Save PDF to desktop
Email
Email completed PDF
Send for Signing
Email for others to sign
Print
Print document
Choose a Field
Click on a field and
select the person that should complete it
Want to add a signature?
You can add a signature field
and assign it to someone else
to sign
Choose a Field
Click on a field and
select the person that should complete it

OFFER IN COMPROMISE SEE INSTRUCTIONS ON BACK OF (U.S. Small Business Administration)

This document is locked as it has been sent for signing.

You have successfully completed this document.

Other parties need to complete fields in the document. You will recieve an email notification when the document has been completed by all parties.

This document has been signed by all parties.

Completed 8 August 2021

Message

View Audit Log
Print With Audit Log
Duplicate Document