Sometimes, a client’s annual SBA loan review uncovers a pattern.
That’s when we recommend one of our SBA lender training classes. This could be related to a specific area of concern, or our review might show a need for more general training.
Put simply: we strongly believe that SBA lender training should be considered when looking at your most-recent loan review results.
Why? Let’s look at one example.
A common loan review finding is inconsistencies between the Credit Memo, Terms & Conditions (formerly known as the Authorization), and final documentation.
This might seem trivial, but it can lead to major problems down the road. How?
What if the staff who understood the anticipated end result leaves, and the remaining staff can’t answer SBA’s questions about the inconsistencies?
What if there’s a failure to secure a lien position, or to lien the appropriate collateral, as a result of those inconsistencies?
There are many other problems that can arise – too many to list! And some can end badly, leading to the loss of a guaranty or requiring a repair to the guaranty.
Whether through a 327 Action requiring SBA approval, a memo to file and an adjustment to ETran under unilateral authority, or just a memo to document a change to the credit – inconsistencies should always be addressed. But if your team isn’t clear on the right action to take, those inconsistencies might be overlooked or only partially resolved.
And this is why we say that training your team ultimately saves time and money.
Because let’s be real: findings like this are just one example of the issues that our SBA lender training ensures your team knows how to handle. We’re here to help you maintain the health of your SBA program through continued training, SBA portfolio reviews, and our lender SBA consulting services.
In short, we’re here for you – and some of our clients have said how much they appreciate having an experienced SBA lender service provider in their back pockets, ready and willing on speed dial.
Sound interesting? Give us a call at 877-576-0819, or drop us a line through our Contact form, and we’ll talk about how we can help.
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