SAN DIEGO — A lender is suing Unique Event Elements LLC and Olman Arriaga, a Georgia company, citing alleged breach of contract.
MyBusinessLoan.com LLC filed a complaint on Oct. 20, in the U.S. District Court for the Southern District of California against the defendants alleging that they breached their duties of good faith and fair dealing.
According to the complaint, the plaintiff alleges that, on November 30, 2015, MyBusinessLoan.com LLC entered into loan documents with a principal amount of $200,000 payable to plaintiff in 36 monthly payments with an interest rate of 18 percent per annum and origination fee of $8,000. Additionally, in the event of delinquency, the plaintiff has the right to accelerate the loan and collect on the entire outstanding balance of the loan. On November 30, 2015, Defendant Arriaga, as guarantor, executed a guaranty to extend credit to the borrower, and the defendant now owed the plaintiff the amount of $162,341.43, together with interest, all amounts now immediately due and owing because of non-payment of the remaining loan.
The plaintiff holds Unique Event Elements LLC and Olman Arriaga responsible because the defendants allegedly ceased making the required payments on the loan and now rendered all amount due and owing, failed to perform its obligations or defaults as a guarantor under the loan documents.
The plaintiff requests a trial by jury and seeks judgment against defendants, damages, interest, attorneys' fees, costs of suit, and further relief as the court deems just. They are represented by Matthew J. Eandi of Eandi Law Group APC in Los Angeles.
U.S. District Court for the Southern District of California Case number 3:16-cv-02611