, Are all the recent changes stressing you out?

“If you don’t like something change it. If you can’t change it, change your attitude.” – Maya Angelou

Greetings!

There’s a lot of change in our industry lately. And change isn’t easy.

Some of us aren’t sure what to make of it all. But Maya Angelou was right: a change in attitude is sometimes the best way to adapt to change.

One way to look at it is to consider what you have direct control over, what you can influence, and what you have no control over.

No control? That’s where an attitude change is helpful. As the saying goes, no one ever won an argument with reality.

LRM's SBA Notice Nook

Notices from SBA in October

1502: Reporting Common Errors/Exceptions issued 10/2/2023

SBA Information Notice 5000-848663 Issuance of SOP 50 10 7.1 issued 10/25/2023

SOP 50 10 7.1 Lender & Development Company Loan Programs issued 10/25/2023 and effective 11/15/2023

November 2023: FTA Services for SBA 7(a) Secondary Market issued 10/31/2023

On a Different Note - Managing Stress

There’s no shortage of things causing stress in life, at work – and as an SBA Lender. Yikes. Let’s just look at recent concerns about whether the government (and therefore the SBA) was going to shut down!

I was thinking about this the other day, after getting off a call with my daughter. She’s just started her freshman year in college, which, of course, is stressful for both of us. In helping her deal with what really is a huge change (as we get older, I suspect we forget just how big a change it is for a young adult to suddenly be away from home!), I found myself asking her a very specific set of questions.

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THE LATEST NEWS FROM OUR BLOG

By Lori McCausland

Whether you’re thinking about starting or expanding your SBA Lending department, or simply updating it based on new SOPs, a key factor is your systems and process.

We wrote a while ago about things to consider as you start up an SBA Lending department. With updates to SOPs and changes in SBA’s expectations, we’re revisiting some essential points that are important even if you’ve been running your SBA Lending practice for years.

We were all scrambling to prepare for a government shutdown. At best, it didn’t happen; at worst, it still may happen. We obviously have no control over that.

In the wake of all the changes (oh, those SOPs and Hold Codes!), and in the uncertainty about shutdowns, you may have some temporary fixes and unresolved questions hanging out there. And very little time to deal with it all.

Why not ask us for help? We can clarify the SOPs’ impact on your loan program, help you integrate the changes in ways that ease (instead of stress) your process, and make sure you’ve got everything in place for smooth, effective operation.

We’re here for you! Give us a call at 877.576.0819, or message us through our website, and we’ll set a time to talk.

Your Team at LRM Lender Consultants,