5 Reasons to Keep Training your SBA Team
We’ve been receiving a lot of requests for training – and we love that our clients rely on us to help them make sure their SBA teams are prepared and ready for the complexities of SBA lending.
Our clients tell us of five primary reasons why they need help.
1. Employees at lending institutions across the U.S. have stepped up to assist their employers in processing PPP loans. But those employees often have little or no experience in processing SBA loans.
2. Meanwhile, lenders weren’t immune to the mass exodus many businesses experienced in the so-called Great Resignation. New hires came on board – and they need training in the myriad, not to mention frequently-updated, processes involved in SBA lending.
3. Employees were promoted into management positions (congratulations!), leaving room for growth for other employees – who now need training.
4. Lenders are experiencing growth in their SBA programs, resulting in larger teams needed to process, underwrite, close, fund, and service their SBA portfolios – and those teams need (you guessed it!) training to have the necessary skills.
5. And then, of course, SBA is famous for constantly rolling out new processes, forms, and requirements for SBA lending – all of which means updating employees’ knowledge through training.
The confusion that arises when your SBA teams aren’t fully skilled in all of the many aspects of processing SBA loans is costly, in terms of time as well as, of course, literally in the case of mistakes that impact the SBA guarantee.
You have enough on your plate. Let us help with training – it’s one of our specialties and our clients love to rely on us. Contact us today to set up a call!