tag:blogger.com,1999:blog-8586513.post109885500092201880..comments2024-03-03T22:01:12.376-06:00Comments on Pensacola Beach Blog: SBA LoansBeach Bloggerhttp://www.blogger.com/profile/16153908891922140526noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-8586513.post-1098884491274815252004-10-27T08:41:00.000-05:002004-10-27T08:41:00.000-05:00Is it possible you have misread the SBA notice? It...Is it possible you have misread the SBA notice? It is common, even prudent, for all financial institutions who are <I>contemplating</I> making a loan to file a public notice that looks like a lien but doesn't "attach" until and unless money changes hands. This is intended to put all other potential creditors on notice that there <I>may</I> be an outstanding loan claiming the described collateral. It doesn't mean there is such. <br /><br />By this means, all other potential lenders, creditors, and the world at large are simply put on notice that if they want more information they should contact the filing party, or "creditor," to determine if it is claiming priority over the described collateral. Thus, for example, a lending institution after contacting SBA today would learn that while the SBA filed a notice, it has not yet lent money. Therefore, the 'lien' hasn't attached. The new institution then could have confidence that if it actually made a loan to you today and if it also filed a mortgage/lien today (or within a statutory number of days later), it would have priority over any later SBA lien which "attaches" when the SBA makes a later loan to you.<br /><br />I think all of this is S.O.P. You may want to re-think your overnight.Beach Bloggerhttps://www.blogger.com/profile/16153908891922140526noreply@blogger.com