20121003 New Head shot
Is your CDC SMART yet?  How can you tell?  For months now, you have been hearing about SBA OCRM's adoption of a new ongoing CDC review methodology and it is all about getting SMART:



Management (& Operations)

Asset Management

Regulatory Components

Technical Issues/Other


The new methodology is going to rely on CDC's being more pro-active in their CDC financial, operational and portfolio management.


Here are a few examples of questions you might ask to see if your organization is SMART:

1.  Are you engaging a professional service provider for an annual Independent Loan Review of your 504 Portfolio?

2.  Do you have the following policies?

* Credit Policy

* Loan Servicing Policy

* Internal Control Policy

* Loan Quality Control (Risk Rating) methodology and/or policy

* Executive Compensation Policy

* Board Policy, inclusive of signed board commitment statements and Conflict of Interest policy and policy statements.

* Policies with respect to use of independent contractors

3.  Does your CDC maintain a clear delineation of "Other CDC Economic Development" efforts and do you have board or policy statements regarding same?

4.  Does your CDC have a commitment to staff and board training, and maintain a CDC Staff/Board continuing education training log?

5.  Does your CDC have a clear statement of policy with respect to how Liquidations are handled, with detail as to the staff roles assigned in the process?


If you answered "No" to any of the above, it is time to get SMART and contract with Power Steering Unlimited, Inc.  Our knowledge and experience is just what you need get SMART.  


Power Steering is here to help your CDC get SMART in 2013!  Booking now well into the fall and winter, 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 back 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.