United States ex rel. Small Business Administration v. Andresen

MEMORANDUM OPINION

MICHAEL, District Judge.

The United States, on behalf of the Small Business Administration (“SBA”), filed this suit to recover on the defendants’ guaranty of a loan, now in default, assigned to the SBA by the original lender, Planters Bank of Bridgewater, Virginia. Two of the four guarantors, William Maynard Southard and his wife Jean, have paid over to the SBA the deficiency remaining after the SBA foreclosed upon the collateral securing the loan; the Southards now assume the position of seeking to recover this paid-over deficiency on the basis of their counterclaim filed in…