Dealing directly while using SBA loan declinedor possibly a collection company can be difficult since they don't provide you with usage of decision makers, so it's sometimes impossible to know why a purchase offer was declined.
Settlement offers that could be acceptable when submitted through your lender are usually declined when submitted on to the SBA, the Treasury, or possibly a collection company. Decades fair, but it is the reasons SBA loan declined debt settlement.
Overall, it's bad that my client could not find his lender the moment his business closed. Instead, he waited to listen from his lender, and unfortunately he never been told by them (unfortunately, many lenders follow this practice since they are overwhelmed with files and lack the person full small business loan declined process the OIC process with every borrower). Consequently, the chance to get the loan settled passed, and are actually mired in a process that can take years to end. As I always tell my clients, if you want to settle, take action ahead of later because when the window of opportunity deal directly along with your lender closes, it's closed once and for all.