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It was absolutely wonderful to connect with so many of you at the NADCO Regional meetings.  Now that those of us who traveled to these gatherings are back in our offices, I wanted to follow up with all CDCs regarding two recurring meeting themes. 


Even with limited SBA presence at both the Sedona and the Clearwater meetings, two common themes were evident in the area of present and future CDC oversight.   The first is that an update to your Policy Manuals is definitely overdue and that just a Loan Policy Manual will likely not be sufficient (unless it covers board roles, internal controls, risk rating, servicing and liquidation, in addition to origination, underwriting and SBA compliance).  Second, all CDCs are coming to the conclusion that having an annual independent loan review is both prudent and advisable, no matter what your portfolio size or "current interpretation" of SBA requirements is.


As for manuals, do not pay extra for "fully customized" manuals when you don't have to.  Though CDCs are unique in many ways, we all operate under the same CFR and SOPs, and further, we all operate via the basic tenets of prudent lending   Allow Power Steering to customize our professionally developed templates into final products specific to your organizational and regional needs and structures.  Rest assured we will accomplish this at a price your CDC can afford and not eat into the funds you need to reinvest into economic development in your area of operations. 


With Independent Loan Review, Power Steering has developed a federally-based sampling methodology and a straight talking approach to your review report that will provide you with valuable feedback on your portfolio and add current general commentary on what other organizations are seeing in their SBA reviews (as much is allowed based on SBA confidentiality requirements). 


Power Steering is here to help your CDC stay SMART compliant and not spend a fortune doing so!  Booking now well into 2014, don't let another day go by without taking steps to become SMART- compliant. 

Call Power Steering today at 210.478.1055 
or click here to email us!


After four years assisting a large Florida CDC navigate the "Great Recession," Mary Kropp and Power Steering are here to assist you. Established in 2004, Power Steering Unlimited, Inc. has worked with over 80 CDCs, as well as closing attorneys and bank partners. Power Steering President, Mary Kropp, has over 34 years in commercial finance and a very successful track record as a CDC Executive and small business owner, as well as a 4 term NADCO Board member, where some of her roles included Vice Chair of Education, Membership and Outreach, national Trainer in Packaging, Portfolio Management and Intro to 504, along with webinars and committee work in Liquidation and Servicing. 


Services are provided by a nationally recognized expert with rates customized to meet your needs. Call 210.478.1055 or email Power Steering today to start charting your best course in SBA Lending!





Mary Kropp
Power Steering Unlimited, Inc.