Jeanette H. Oldham v. United States Small Business Administration, et al.

Lubbock, Texas consumer credit lawyer represented the Plaintiff who challenged loan requirements.



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Leslie Oldham (Mr. Oldham) applied for a loan from First Bank Texas (the Bank) guaranteed by the Small Business Administration (SBA). During negotiations with the Bank, Mr. Oldham received an email from a Bank representative stating that the "SBA require[d]” a personal guaranty from his wife, Jeanette Oldham (Mrs. Oldham). Mrs. Oldham claims that the

Bank's requirement that she personally guarantee the loan violated both applicable federal regulations and the SBA's Standard Operating Procedures (SOP). Mrs. Oldham filed suit in Texas state court against the Bank and the SBA, seeking damages and a declaratory judgment invalidating the personal guaranty. After removal and an amended complaint, the Bank and the SBA filed motions to dismiss. The district court granted both.



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Affirmed in part and reversed in part. The personal guarantee of the Plaintiff was improper.