Temporary changes to the SBA program have enhanced the benefits to borrowers and lenders, making now the ideal time to develop an SBA lending strategy. After helping lenders across the country develop successful SBA programs, we have taken these insights and developed a 4-step Playbook for lenders. In this whitepaper you will learn about: How …
How SBA Loan Officers Can Use Loan Data to Find More Deals Read More »
Over the last year, legislation has been passed to support businesses negatively impacted by the pandemic and to provide benefits to SBA borrowers. One significant piece of legislation was Section 1112 of the CARES Act passed in March of 2020, which provided payment relief to small businesses. Section 1112 provided $17 billion of “debt relief …
SBA Debt Relief Payments: The Latest Revisions Explained & What They Mean for Lenders Read More »
The 2021 SBA lending program enhancements and payment subsidies have changed how many lending institutions are approaching traditional SBA lending. If your institution is new to the space or has many years of SBA experience, there are numerous benefits of the program that could lead to large increases in SBA lending activity: 90% guarantee until …
SBA Loan Outsourcing: 3 Things Your Institution Should Consider in 2021 Read More »
As part of the Coronavirus Aid Relief and Economic Security (“CARES”) Act passed last March, the SBA’s Paycheck Protection Program (“PPP”) helped get funds into the hands of more than 5 million businesses in dire need of a lifeline in the midst of the COVID-19 crisis. With the pandemic continuing to surge heading into 2021, …
Offices of Lawyers (NAICS Code: 541110) ranked #11 in our latest research on the top 20 performing industries for SBA financing over the last decade. During this period, attorneys received more than 5,800 SBA 7(a) loans totaling roughly $1.15 billion. Attorneys find the 7(a) Program to be one of the most attractive options for financing as a result of the flexibility surrounding the permissible uses of proceeds, such as continuing legal education, refinancing existing debt and working capital to cover case expenses.
In our latest analysis of the top 20 performing industries, Engineering Services (NAICS Code: 541330) ranked #20. From October 1, 2009 to December 21, 2018, engineering firms received 3,058 SBA loans totaling roughly $1.06 billion. While “engineering services” is a broad category covering many types of engineers, the need for capital and the value of SBA financing is similar across all categories.
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