Get Liquidation Form

Completing the Liquidation Form online is an essential step for users managing business liquidation processes. This guide provides clear, step-by-step instructions to help users fill out each section of the form accurately and efficiently.

Follow the steps to complete the Liquidation Form online.

1. Press the ‘Get Form’ button to obtain the Liquidation Form and open it in your preferred online editor.
2. In the first section, provide justification for transferring the status to 'liquidation'. Include reasons such as non-payment, bankruptcy, property abandoned, etc., and attach relevant documents as required.
3. Detail the causes of business breakdown and any workout attempts. Add comments on any management assistance given or received, and attach the most recent field visit report.
4. List all non-SBA loans associated with any borrower, guarantor, or principal. If there are none, state that clearly. If there are, attach the loan documentation.
5. Document the name, address, Social Security Number (SSN), and Tax Identification Number (Tax ID) for all obligors and guarantors. Attach copies of any demand letters sent.
6. Complete the attached Litigation Plan if court action is necessary. This applies if litigation is contested, if there are non-SBA loans, or if litigation expenses will exceed $5,000.
7. In the General Recovery Plan section, describe the proposed process for liquidation and estimated time frames. Discuss how collateral will be disposed of and highlight any environmental concerns.
8. Fill in the Estimate of Liquidation Recovery. Provide actual or estimated expenses for real estate, personal property, and other categories.
9. After completing the form, review all sections for accuracy. Save your changes, and download or print the completed Liquidation Form as needed.

Complete your Liquidation Form online today!