The Rise of the Small Loan Program feat. Mike Breckheimer, Christopher Hackney, & Darren Davis | Ep. 152
Manage episode 433135547 series 2772787
In this episode, host Ray Drew delves into the transformative changes within the SBA 7(a) Small Loan Program.
With the new SOP increasing what they consider a “small loan” from $350,000 to $500,000 and streamlining processes, SBA lending has seen a renaissance in small loans.
Key topics covered include:
The shift in the secondary market favoring smaller loans
The role of major banks in processing these loans
How major banks are stepping up their game for small loans
Fintechs role in sourcing these small loans
Strategies for creating and scaling a sustainable small loan program
Ray brings in more Art of SBA Contributors to share their own first-hand experiences with the changes, and break down the essentials of originations, processing and underwriting in the new and growing small loan landscape of our industry.
This weeks contributors:
Mike Breckheimer, President and CEO of Windsor Advantage
Darren Davis, President of SBA Lending at Colony Bank
Christopher Hackney, President of SBA Lending at BayFirst and cohost of the BDO Show
Tune in to discover how your bank can navigate and thrive in this evolving landscape of SBA small loans. Don’t miss this in-depth analysis and expert panel discussion!
Navigate this episode:
Introductions
1:30 Ray introduces and this weeks topic: The rise of the SBA Small Loan Program
7:05 Introduction to this weeks Art of SBA Contributors
7:25 How our panelists banks are handling small balance loans currently and moving forward.
Discussing Originations
11:30 Sourcing deal flow and partnerships with fintech’s
12:35 Keys to success when working with high volume small loan brokers
Discussing Credit
23:00 Creating an efficient, scalable system without taking on more risk
25:20 Auto-decisions for smaller loans
26:55 The possibility of SBA turning into fintech
Overall views of the SBA Small Loan Program
32:25 Biggest obstacle SBA shops face heading into this next era
35:33 Bottle necks in SBA
38:40 Success stories and positive impacts on business owners
This episode is sponsored by:
Lumos Data
Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance.
If you're ready to take your small business lending to the next level with cutting edge analytics visit lumosdata.com.
Rapid Business Plans
Rapid Business Plans is the go-to provider of business plans and feasibility studies for government guaranteed small business lenders.
For more information, or to set up a Get Acquainted call go to http://www.rapidbusinessplans.com/art-of-sba
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