, Are you ready for your next SBA Portfolio review?

ARE YOU LOOKING AT ALL THE ANGLES?

Greetings!

A mind is like a parachute; it doesn’t work if it isn’t open.” – Frank Zappa

On one level it’s a funny quote, but once you contemplate it for a while it’s genius. More things have been resolved, invented, and discovered with an open mind than with a closed one. Of course, rules are there to be followed and should be, but being open to thinking outside the box can get so much more accomplished.

SBA Notice Nook

SBA Procedural Notice 5000-829036 Revised Guidance on Requests for 7(a) Loan Increases to Loans Approved prior to December 27, 2020. Issued 2/16/2022

Weekly Lending Reports. Issued 2/18/2022

Forgiveness Platform Lender Submission Metrics. Issued 2/21/2022

SBA PPP Loan Review Processes Report #22-09. Issued by Office of Inspector General 2/28/2022

THE LATEST NEWS FROM OUR BLOG

THE 8 Most Common Loan Review Deficiencies

By Lori McCausland

In light of the SBA’s 7a Connect Call in January, this is a good time to review the most-common mistakes or problems that SBA’s Office of Credit Risk Management (OCRM) typically finds – as well as those that we often see in reviewing our clients’ portfolios.

Here’s the list of the top 8, with quick points about what usually needs to be done to correct the deficiencies.

Open mindedness and SBA can seem counter intuitive. They really aren’t, but there are times when thinking outside the box isn’t easy. Sometimes it is hard to see the forest for the trees.

At LRM we strive to help our SBA Lending Partners look at every angle to ensure they have maximized their efforts while staying true to SBA rules and regulations.

Call us today to discuss how we can assist you (877) 576-0819. Follow us on LinkedIn to get our most recent blog posts or check out the Blog page on our website.

Your Team at LRM Lender Consultants,