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Greetings!

“Discipline automates habits which, in turn, determine your outcomes.”

– David Khalil

The use of procedures really is just automating a business habit. Your staff’s discipline to following those procedures will help to ensure your results or in the case of SBA lending your guaranty. We say it a lot, but it can never be said enough, your processes and procedures really are your foundation for a successful SBA program.

LRM's SBA Notice Nook

Notices from SBA in September

504 Fees Effective During Fiscal Year 2023 issued 8/15/2022. EFFECTIVE 10/1/2022

7(a) Fees Effective 10/1/2022, for Fiscal Year 2023 issued 8/31/2022.

EFFECTIVE 10/1/2022

Weekly Lending Reports issued 9/16/2022

SBA Franchise Directory issued 9/22/2022

How to Find Time – even when there’s

never enough

Let’s face it: there’s never enough time. And there are so many SBA requirements to remember. You’re behind before you even start!

Just one, for instance: the guaranty purchase package. You’re stressed because a loan has gone bad. You’ve done the initial work to either maximize recovery, deal with a bankruptcy, negotiate a workout, or you have an offer in compromise.

And now you have to ask:

Have you tallied the allowable reimbursable expenses?
Did you exhaust all liquidation avenues for recovery?
Have you charged off your loan internally?

Once that’s done, you still have to get your SBA guaranty.

READ ON!

THE LATEST NEWS FROM OUR BLOG

The clock in ticking...don't miss

SBA's deadlines!

By Rebecca Mendoza

Do you have a list of all the SBA deadlines for your Standard 7a and Small SBA 7a loans?

They’re essential to protect the guaranty, enhance your reputation as a competent SBA Lender, and for getting things done in a prudent and timely manner.

Here’s a handy list you can use to update your SBA lending processes and procedures.

LEARN MORE!

We're heading to NAGGL!!!

SBA Lenders! Are you attending the NAGGL conference this month – October 24th to 26th?

NAGGL 2022 in Colorado Springs – it’s THE place to be if you’re an SBA lender or if you support SBA lenders in some way. Which, of course, is why we’ll be there at Booth 35, ready to talk with you, to say Hi! after so many virtual meetings, and ready to see what your 7(a) lending challenges – and triumphs! – are.

If you’re planning to be there (you *are* planning to be there, right?) (can you tell we’re a little excited?), drop us an email and let us know so we can look for you. Or just stop by the booth!

We know that turnover, workload, and competing priorities can make development and implementation of strong SBA policies and procedures challenging.

The key is getting the right feedback from the right people and having the whole department buy in to the final product.

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,