SBA Loan Demand Letter
My business received a SBA Loan demand letter saying I had 10 days to respond. I am trying to get in touch with the bank but not sure how I should proceed. I would like to save the business but cash flow right now can’t support the current payments. I read that loan modifications can be made with SBA loans, is that true? Right now the SBA loans are about 100k so I would need it modified to about another 30 years with the hope the business can pay it back sooner. Wanted to see what the thoughts are on how I should handle this?