u/Maleficent-Jury-2336

I'm trying to understand what the SBA experience actually looks like once they recognize a business is closed with no assets, no cash, and over $200,000 in debt. Do they still require a mountain of paperwork and just continue down the same path of Treasury referral, collections, and hardship enforcement anyway?

At what point does it make sense to keep spending time and resources gathering all this information and dealing with the skeleton crew still working there if the end result is collections and Treasury regardless?

Has anyone been through this? What was your experience?