“The way to achieve your own success is to be willing to help somebody else get it first.”
Iyanla Vanzant
Greetings!

It’s spring! A welcome change from the gloom and chill of winter – and an opportunity to revitalize our homes, our wardrobes, and yes – our SBA programs and teams.

After all, as SBA Lenders, our success is clearly dependent upon our ability to help our small business clients achieve their own success.

Is it time for a spring refresher for your SBA team?
LRM's SBA Notice Nook
If Not Deferral, Then...What?
We’ve been covering questions about deferrals in several recent articles. And our clients continue seeing a rise in Borrowers’ requests for payment assistance.

So we’re here today to remind you that, while deferrals are one option, they’re not the only option – and they’re not always the best option.

In SOP 50 57 3, SBA says, “Whenever feasible, Lenders must make a good faith effort to negotiate a workout on an SBA Loan that is seriously delinquent or in liquidation.” 

We agree – but why wait for seriously delinquent or liquidation?
THE LATEST NEWS FROM OUR BLOG
Injection: Changes to Requirements,
Evidence, & Sourcing
By Rebecca Mendoza
Equity injection has always been an integral part of SBA Lending.

And it’s always been an area where errors can impact the Lender’s guaranty. 
SBA has historically looked at injection in three ways: 
 
1) Is it required at all?
2) What’s required to evidence injection?
3) What’s required to source injection?
What would it look like to bring a breath of fresh spring air into your SBA department? Maybe you’ve been following the same processes and procedures for so long that they’ve become stale – and possibly, given all the recent changes, a little out of date?

If a bit of spring cleaning for your SBA program sounds intriguing, give us a call at 877.576.0819, or email us through our Contact form, and we’ll talk about how we can help.

Your Team at LRM Lender Consultants,
Lori N. McCausland
CEO
LRM Lender Consultants Inc.
484-645-3987
Rebecca L. Mendoza
President
LRM Lender Consultants Inc.
949-294-8490
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