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#2234251 - 04/03/20 09:28 PM SCRA Protections - Business Loan and Leases
Betty Banker Offline
Member
Joined: Sep 2015
Posts: 53
I am looking at Section 3952 and 3955 of the SCRA and seeking clarification as to whether there is applicability to business equipment leasing (examples: automotive repair equipment; construction equipment; etc.) and business vendor financing. Would a business owner be able to terminate a lease early if active duty? Would a servicemember be able to receive protections if a principal or guarantor of vendor financing? All guidance I have read speaks to automobile lease termination and residential lease protections.

Thank you.

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Lending to Servicemembers (SCRA, JWNDAA), War, Terrorism
#2234276 - 04/06/20 01:28 PM Re: SCRA Protections - Business Loan and Leases Betty Banker
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,227
Bloomington, IN
The servicemember is protected under the SCRA for all obligation they are directly or indirectly obligated on regardless if it is a business and personal obligation.

You should consult the bank's attorney.
_________________________
The opinions expressed are mine and they are not to be taken as legal advice.

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#2234304 - 04/06/20 04:36 PM Re: SCRA Protections - Business Loan and Leases Betty Banker
Betty Banker Offline
Member
Joined: Sep 2015
Posts: 53
Thank you Dan.

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