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  • Writer's pictureRebecca Mendoza

Have you scheduled your 2024 SBA Loan Review?

SBA Loan Review

We’re nine months into a whole slew of SBA SOP changes. Your SBA packaging processes and procedures should be fully updated by now, and everyone should be accustomed to the changes.

That makes this the ideal time to conduct a third-party review, which accomplishes several important objectives.


  • You’ll identify areas where extra SBA loan training for lenders is needed. Your team has had a lot to do – and a lot to learn. Where are the gaps, if any, and what’s needed to fill them in so everyone’s fully up to speed and confident in their decisions?

  • You’ll be able to double-check that your updated processes and procedures are in full SBA compliance. It might be a bit counter-intuitive, but when you have an experienced team and a lot of changes from SBA, there’s plenty of opportunity to miss something, keep operating out of established (but out-dated) habit, and therefore… make mistakes. 

  • You’ll prepare for any OCRM reviews coming up in the next twelve months. The Office of Credit Risk Management conducts periodic reviews of loans considered high risk. Being prepared for their oversight means less time, less stress, and less chance of problems.

  • All this will mitigate issues – and protect the guaranty. While we hope you never have to go through an SBA loan liquidation, these and other loan issues are hard on everyone. Catching them before they affect the guaranty is probably the best reason of all to conduct a thorough annual review.

  • And – yay! – you’ll identify successes to celebrate! This is the most fun reason to conduct an annual review. Celebrating your team’s success is an important part of keeping everyone engaged and committed to serving your small business clients.

We’ve all had a lot to learn over the last year. And because of that, we’ve seen what we’d call “unforced errors” creeping into loan documentation, as well as incomplete updates to process and procedure checklists.

Let us help you make sure you’re set up and aligned for the rest of 2024! Give us a call at 877 576 0819, or reach out through our Contact form. We’re here to support you in whatever way works best.


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