Chicago SBA Loan Relief Attorney

Eric Zelazny is a Chicago bankruptcy attorney with a CPA background — bringing over 30 years of experience helping Illinois business owners resolve SBA loan obligations without losing everything they’ve built.

Is an SBA or EIDL loan threatening your business — or your personal assets?

An SBA loan default occurs when a borrower fails to meet the repayment terms of a government-backed loan. Unlike conventional lenders, the SBA has extraordinary collection tools at its disposal — including Treasury offsets, wage garnishment, and referral to the Department of Justice. Business owners who personally guaranteed their SBA loan remain personally liable even after the business closes. Illinois business owners facing SBA default have legal options including hardship accommodation programs, Offer in Compromise, and bankruptcy protection — but the window to act strategically is narrow.

When an SBA or EIDL loan goes into default, the consequences don’t stay contained to your business. As a personal guarantor, your home, savings, and personal assets can all be at risk. The SBA has aggressive collection tools — and they will use them.

The good news: you have more options than you think. But the window to act strategically is narrow.

Why business owners across Illinois choose Zelazny Law

Eric Zelazny holds a rare combination: he is both a licensed Attorney and a Certified Public Accountant (CPA). Most bankruptcy attorneys only see the legal picture. Eric sees the full financial one — including how your SBA or EIDL situation interacts with your taxes, your business structure, and your personal liability exposure.

That’s not just a credential. It’s the difference between a generic strategy and the right one for your situation.

SBA & EIDL Relief Options We Help Business Owners Explore:

EIDL Loan Forgiveness & Hardship Accommodation

The SBA offers hardship accommodation programs for EIDL borrowers. Eric evaluates whether you qualify and negotiates on your behalf to reduce or restructure your obligation.

Offer in Compromise (OIC)

In some cases, the SBA will settle your loan for less than the full balance. Eric has experience navigating the OIC process and can assess whether this is a viable path for your situation.

Chapter 7 Corporate Bankruptcy

For business owners looking to close a struggling business, Chapter 7 can provide a legal, structured exit — paying little to no debt back to creditors and delivering the closure you need to move forward.

Business Owner Asset Protection

If you want to keep operating, protecting your personal assets from business obligations is critical. Eric works to shield what matters most — your home, your retirement, your future.

Debt Settlement & Negotiation

Not every situation requires bankruptcy. In many cases, Eric can negotiate directly with the SBA or lenders to reach a manageable settlement that keeps your business running.

How It Works in Practice

A Chicago-area retail business owner personally guaranteed a $350,000 SBA loan. When the business closed, the SBA initiated collection against his personal assets including his home. After engaging Eric, a viable Offer in Compromise was identified based on his financial profile, and the SBA ultimately settled for significantly less than the full balance — protecting his personal assets and avoiding bankruptcy entirely.

Big Law Credentials. Small Business Heart.

Eric Zelazny has spent over 30 years focused on one thing: helping small business owners navigate financial crises with clarity and confidence.Eric has built a reputation as one of the Chicago area’s most trusted SBA and business bankruptcy attorneys — recognized for his rare combination of legal and accounting expertise.

SCHEDULE YOUR FREE IN-PERSON CONSULTATION

Contact us today to schedule your appointment.

Reviews From Our Clients

"I own a trucking company with big loans, back taxes, and messy records. Other lawyers kept turning me away. Eric didn’t flinch. He looked at everything, said, “Okay, here’s what we can do.” He helped me file the right kind of bankruptcy, got the creditors off my back, and made sure I didn’t lose my trucks. That was everything. I’m still in business today because of him."

"Nothing but the best- knowledge & service above and beyond , this is what you can expect if Eric is the attorney you hired. Experience, expertise and professionalism that he brings to the case given is definitely something that is a rare find these days. Eric is my attorney of choice for all legal needs in fields that his office covers."

"Eric is very professional and knowledgeable. The best thing about him, is that He is an accountant and a lawyer. Essentially once you hire him, all aspects of your case are being taken care off, from legal to financial side of things."

"Eric is so knowledgable and friendly. He gave us great advice to position our existing businesses and never made me feel rushed or that I was asking dumb questions. Making a consultation call with him is one of the best decisions I ever made and we will be using his services in the future."

"I recently had the privilege of hiring Eric Zelazny, and I must say that the experience was nothing short of exceptional. If you're in need of legal representation, look no further because Eric is truly an outstanding professional who deserves every accolade...I can’t recommend Eric enough.

"I had a consultation with Eric. He took his time and discussed every single aspect of the legal issue I was facing with me. During our consolation it was clear that Eric genuinely had my best interest in mind. His insight, thoughts and discussion helped us come to a conclusion that three other attorneys overlooked. I can not thank Eric enough. I am confident and proud to have him in my corner."

Request your Free In-Person Consultation TODAY

A 30-minute, in-person consultation with Eric is free — and it’s where real strategy begins. We’ll review your SBA or EIDL situation, assess your options, and give you a clear picture of the path forward.

“Clients come to see me concerned, worried and sad, and they often leave with a smile on their face because they have hope again.”, Eric says. “There is no other type of work I would rather do than helping small business owners.”