The Art of SBA Lending

In this episode, I talk business development strategy and the future of SBA lending with fellow SBA Lender, Greg Gala.

In this episode, I share tips and tricks for effective email marketing for SBA BDO's / Relationship Managers. I Survived PPP Etsy Store Link: https://www.etsy.com/shop/TheArtofSBALending?ref=search_shop_redirect The content of this podcast is my own and doesn't necessarily reflect the views of my employer.

A shake-up in the marketplace could be the exact thing you need to make the move toward becoming more efficient and profitable as an SBA lender. Listen to find out why.  Etsy store: https://www.etsy.com/shop/TheArtofSBALending?ref=search_shop_redirect The content of this podcast is my own and doesn't necessarily reflect the views of my employer.   

Given the recent involvement of Fintech lenders in the PPP, I wonder if they will look to become a direct source of regular SBA 7(a) loans going forward. Let's discuss!   Also, I talk about 5 ways technology can boost productivity for SBA lenders.   The content of this podcast is my own and doesn't necessarily reflect the views of my employer. 

In this episode, I discuss 3 key factors to understand when assessing a new loan request post-covid shutdown. 1. Get the Story  2. Are you profitable? 3. What's your post-close liquidity? The content of this podcast is my own and doesn't necessarily reflect the views of my employer. 

The first round of Paycheck Protection Program Loans is over - no more SBA approvals will be issued until Congress has passed more funding. In this episode, I look back and analyze the last couple weeks of PPP madness. The content of this podcast is my own and doesn't necessarily reflect the views of my employer. 

Now that PPP is up and running, I want to take a minute to discuss what "the new normal" looks like for SBA lenders now, and what it will look like after the Covid-19 Pandemic has passed us. Apply for a PPP loan: https://ppp.readycapital.com/ The content of this podcast is my own, and doesn't necessarily reflect the views of my employer.   

Congress has passed and the President has signed the CARES Act which includes a new SBA 7(a) loan program called the Paycheck Protection Program or PPP. Lenders are now working with SBA to understand this new program so it can be brought to market for Small Businesses adversely impacted by Covid-19. Here's what's in it: - Loans are 100% guaranteed by the SBA - Can borrow 2.5x avg monthly payroll e...

The social distancing efforts being used to combat the CoronaVirus has left Small Business Owners in a very tough situation. There are 2 major SBA initiatives happening: 1. $7 billion in disaster relief loans has been passed and signed by the President 2. A $50 billion SBA package to increase and stimulate 7(a) lending is being worked on to further assist. My advice for SBA lenders during this unp...

In this episode, I discuss Business Development Strategy for SBA Product Specialists at Large Banks. - Building relationships within the bank - Marketing to your internal referral sources - COI Relationships - Best Practices for handling internal referrals If you have questions or feedback for Ray, email him at Ray. Drew@ReadyCapital.com . The content of this podcast is my own and doesn't necessar...

In this episode, I discuss the idea that increased communication is needed during points of transition within the SBA borrowing process (such as when the loan is submitted to underwriting and when a borrower accepts your commitment letter) to reduce unnecessary frustrations.    The content of this podcast is my own and doesn't necessarily reflect the views of my employer. 

There is a thirst for knowledge out there when it comes to SBA loans. The opportunity to develop your SBA lending business through education-based content and events has never been greater.  Here are 7 ways you can put this strategy into practice: Webinars Lunch and learns Host an event for entrepreneurs at a think tank Speak at a nearby college Submit an article to a magazine or online blog Start...

As technology takes a more forward leaning role in the financial services industry, there is one thing that will always require some good ol' fashioned human brain power - and that is SBA lending. SBA loans $350k+ are decisioned by humans. How do they make these decisions? By looking at INFORMATION. And how the information is provided makes a difference. You absolutely have to do these 3 things in...

In this episode, I discuss trends in Hotel SBA Lending from the following perspectives: - Market Analysis - Credit/Underwriting - Competition The content of this podcast is my own and does not necessarily reflect the views of my employer. 

Merchant Cash Advance (MCA) loans have exploded in the last few years due to the speed of which they can be funded, however the high interest rates and short repayment terms associated with these loans lead many small business owners to seek a debt consolidation through an SBA lender.  Here are a couple things to look out for when analyzing an MCA debt consolidation under your SBA 7(a) program: 1....

In this episode, we discuss the best real estate scenario for SBA 7(a) financing.  - Start-up Businesses involving Real Estate - Real Estate Purchases for Fast-Growing Businesses in need of more Cash - Acquiring a Business with Real Estate - Tougher Deals - Special-use Real Estate - and more! The content of this podcast is my own and does not necessarily reflect the views of my employer. 

In this podcast, we discuss how to perform the balancing act that is developing new business for the bank and managing your active loans through your pipeline.  - Time Management - Prioritization - To-do Lists vs Schedules The content of this podcast is my own and does not necessarily reflect the views of my employee. 

In this episode, we talk about how to create great referral sources. - How to get the most out of trade organizations - Cold calling techniques  - Prioritization of Referral Sources  The content of this podcast is my own and does not necessarily reflect the views of my employer.

In this episode, I talk about selling strategy. - Pitfalls to avoid in the initial stages of selling - The consultative approach  The content of this podcast is my own and does not necessarily reflect the views of my employer. 

In this Episode, I discuss how to pinpoint and embrace your shop's Value Proposition. - Finding the "intersection" of approvable deals and deals you can win - Going to market with your shop's credit philosophy in mind - Specializing and Branding yourself around your Value Proposition    The content of this podcast is my own and does not necessarily reflect the views of my employer. 

In this episode, I do a deep dive into the SBA pre-approval process, specifically covering the topic of term sheets.  - Immediate term sheets vs. credit-approved term sheets SBA Pre-Approval Checklist: Personal (anyone who owns 20%+) Personal Financial Statement 3 years Personal Tax Returns  Personal Credit Score Resume Business 3 years Business Tax Returns  Interim Financials (P&L Statement and B...

This episode sets the stage for what we'll be discussing in future episodes, and that is:  The Art of SBA Lending. We hit on topics such as:  how perception of the program has changed, the role of technology and the internet, and how to create happy borrowers.   The content of this podcast is my own and does not necessarily reflect the views of my employer.