SBA loan deferment question?

[Carolyn D.]

I'm the CFO for 3 companies (1 real estate company, 2 operating businesses leasing from landlord) with an SBA loan taken out in 2003 currently in good standing. Operating businesses have entered a cash-flow problem in Q1'2014 preventing them from making the March, 2014 triple-net lease payments that cover the monthly SBA payment. SBA lender (CIT Small Business Lending) entered bankruptcy protection in 2008 and are controlled by some sort of bankruptcy agency. Principal loan balance is ~56% of original loan with loan entering its 11th year of the 20-yr. term.

Attempted to contact CIT to request loan deferment/interest only payment to get us through Q1'Q2 cash-flow problem. Can't get past customer service representative! I was told that the only way to get our request processed is to default on the SBA loan. Don't want to do that but want to know if making the interest-only payment in March 2014 is worth doing at this point to show that we really are attempting to keep the loan in good standing?