In looking at the data on SBA loans, I am wondering the "reality" of the personal guarantee they require. The data show that the SBA is writing off most of their defaults. Very little revenue from foreclosed property.

I'm wondering if anybody has had their assets from a PG actually taken for a SBA backed loan. Or is it just threatened, but the reality is most people walk away without the personal assets really being taken?

My source is this:

redacted

It looks like they are only carrying on the books foreclosed property of 57 loans if I am reading this right.

In another section they cite $6B in claim payments for the guarantee, and then have a direct writeoff of $5.4B. Foreclosed property offsets being only $6M….

So basically a zero risk option on the taxpayers dime. Unless you are one of the 57 unlucky bas****….

Who has true and real stories to tell about the PG being exercised?