We recently explored the benefits of outsourcing an SBA department back-office in 3 Reasons to Outsource Your SBA Department to a Lender Service Provider. Outsourcing to a Lender Service Provider (LSP) allows lenders to create an efficient and effective SBA and USDA program without many of the quantitative or qualitative risks associated with implementation and
To illustrate the top reasons to outsource your SBA department, let’s start with 3 situations to avoid: Scenario 1 – Economic Risk: You’ve already made a significant investment in the people and systems necessary to offer SBA loans. Costs were higher than originally expected and additional expenses continue to build. You’re seeing some volume, but
Competition for quality small business borrowers is only getting fiercer. Projects and industries that were formerly “off limits” are now pillars of some bank’s lending strategies (think hotel lending). Businesses are demanding terms that even a few years ago were unfathomable. Finding a unique value proposition is imperative to compete for strong borrowers in this
As the below graph illustrates, hotels are among the most active industries accessing capital through the SBA 7(a) a loan program. That’s because borrowers can use the proceeds for acquisition, debt refinance and/or property improvements often required by franchisors. Not only that, but 7(a) loans can mitigate industry volatility during potentially slow seasons and/or economic
When properly structured and underwritten, many of the concerns that come with lending to an insurance agency can be mitigated. What’s more, utilizing the SBA 7(a) loan program can help protect a lender against credit losses with a guarantee of 75% to 85% of the loan amount. While the 7(a) program can help lenders reach
Last week we launched our comprehensive 2016 SBA and USDA Loan Market Outlook. At 20 pages, we know this is a lot to digest — so we’ll summarize the key takeaways here, starting with our intent. Why read a 20-page SBA and USDA lending outlook? The day-to-day conversations we have with lender clients often focus
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