SBA Loan, consequences?

My friend took out an SBA(small business association?) Loan a couple months back and hasn't made any payments on it. Thing is, he did it through a "broker" and he kinda took out a loan from a business that doesn't really exist, I guess he used a "loophole" or something. At any rate, what are the consequences? He already obviously expects to have his credit ruined, but any other penalties? He's done with banks and loans and houses, just wants to get away from everything, doesn't care about his credit anymore. He's worried he might get arrested though or be stopped at the airport, can this happen?

Please enter comments
Please enter your name.
Please enter the correct email address.
You must agree before submitting.

Answers & Comments


Helpful Social

Copyright © 2024 Q2A.ES - All rights reserved.