The Positive Side of Pain Points

Pain points. Bottlenecks. Inefficiencies.

Every SBA Portfolio Manager deals with them.

And your SBA portfolio can stagnate if you don’t address them, with unfortunate (to say the least) consequences for your SBA program.

But – on the positive side – a careful analysis of where your pain points are can lead to real, sustainable growth.

Here’s a few ideas on how to hunt down the pain points in your SBA department.

• When was the last time you asked your team about their experience? What are they tearing their hair out over – or just quietly moaning about as they deal with issues? Ask them!

  
  

• Are you up to date on industry rule changes – and have you updated your processes and checklists accordingly? There’s always a steady stream of SBA notices (sign up here for our monthly SBA lender newsletter summarizing them). Who on your team is responsible for staying on top of those updates?

  
  

• What are your Borrowers saying? Have you asked them? Your customers are experts at identifying bottlenecks, but they may not tell you unless you ask.

  
  

• Have you convened your team to discuss their experience – and their frustrations? A regular meeting to dig into pain points and bottlenecks doesn’t have to take long, and will reveal inefficiencies that, when fixed, will save time.

  
  

• Does someone on your team attend industry round tables and seminars – and report back? You can glean a lot from other people!

  
  

• Have you conducted a review of your SBA portfolio in the last year? This is a great way to identify trends – both positive and problematic.

  
  

• Do you have an SBA consultant to call on? A fresh set of eyes can spot things your team might not see, simply because they’re so familiar with “how we do things around here.” Plus, the depth of experience that a Lender Service Provider brings to your team can be invaluable in streamlining your process – and your growth.

Maybe you’ve already reviewed your process (and those checklists!). But here’s an annoying thing about pain points: they sneak back in. So a regular review process, whether it’s annual, twice a year, or even quarterly, is helpful to find and deal with them, and also to refresh everyone’s memory on how the process works. Because pain points aren’t only about missing or inefficient process steps or checklist items; they’re also about how well the process is understood and how thoroughly the checklists are followed.

Curious what a review might reveal? Give us a call at 877-576-0819, or drop us a line through our website here, and we’ll talk!