SBA Underwriting Talk with Credit Manager Lizzie Slaton | Ep. #109

This week on The Art of SBA Lending we're honored to be bringing you an interview with one of the few people who have actually run the SBA. Welcome, Jeanne Hulit, former acting SBA administrator and current CEO of Maine Community Bank!

Jeanne is here giving us her takes on the 2023 changes of the SBA, and what she thinks about simplifying the SOP. We're talking about raising the SBA limits, her background in the SBA, and of course, her time in charge.

We're excited about this one, so listen in and don't forget to subscribe to stay up to date on new episodes.

This episode is sponsored by:

Able

Able is an a AI-powered deal acceleration platform that streamlines the most hated process in SBA lending: document collection and management.

You can learn more about Able and schedule a demo by going to http://www.able.ai

CORPSMART

CORPSMART is a due diligence group that specializes in lien searching, UCC filing, DMV title recordings and more. If you're looking to streamline your process, the CORPSMART team is the best resource, offering a wide range of services, capability to directly integrate with your in-house systems, and the icing on the cake, their over-the-top customer service, making every deal that much easier to close

To discuss your due diligence needs, visit the CORPSMART website at http://www.corp-smart.com and let them know that The Art of SBA Lending send you!

Join us for our newest episode with Jim Mueller, BDO at Celtic Bank and highly deserving recipient of last years “BDO of the Year” award.

Ray and Jim have a great conversation about achieving success and caring deeply about the process from somebody who has been on both sides of the table.

In this episode we discuss: Jim's transition from a CEO to a BDO, making mistakes quickly (and correcting them quickly), why Jim prioritizes communication with the borrower from start to finish, and his advice for a new BDO.

You're going to get a lot out of this one so don't miss it! Subscribe now to stay in the loop for new episodes.

This episode is sponsored by:

Rapid Business Plans

Rapid Business Plans is the go-to provider of business plans and feasibility studies for government guaranteed small business lenders.

For more information, or to set up a Get Acquainted call, email Bethany McClellan at Bethany@rapidbusinessplans.com

CORPSMART

CORPSMART is a due diligence group that specializes in lien searching, UCC filing, DMV title recordings and more. If you're looking to streamline your process, the CORPSMART team is the best resource, offering a wide range of services, capability to directly integrate with your in-house systems, and the icing on the cake, their over-the-top customer service, making every deal that much easier to close

To discuss your due diligence needs, visit the CORPSMART website at 

CORPSMART™ - CORPSMART™

 and let them know that The Art of SBA Lending send you!

The comments made on this podcast are own own, and not necessarily the views of our employers.

In this episode we interview Phil Johnson, Founder and CEO of the Master of Business Leadership program for employees and executives. Listen in as Ray and Phil get into the majorly important topic of emotional intelligence. What it is, why it’s important, and it’s current role in corporate America.

Covering the questions of ego-based fears and how they’re holding you back from success, the disconnect between emotional intelligence and selling, and how quickly we are evolving as a society; we’re excited to switch it up from our normal content and give you something new to think on.

Listen in now and let us know what you think!

To learn more about Phil’s work and contact him visit his LinkedIn page or book time with him on Zoom here:

https://www.linkedin.com/in/philipjpjohnson/

https://calendly.com/mblcoach/chat-with-phil

This episode is sponsored by:

Lumos Data

Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance.

If you're ready to take your small business lending to the next level with cutting edge analytics visit lumosdata.com.

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Able

Able is an a AI-powered deal acceleration platform that streamlines the most hated process in SBA lending: document collection and management.

You can learn more about Able and schedule a demo by going to www.able.ai

Navigate this episode:

1:25 introduction to Phil Johnson
2:00 importance of emotional intelligence in a corporate setting
3:10 State of emotional intelligence in corporate America
5:05 How has the state of emotional intelligence changed over the past 50 years and where are we headed?
7:05 Moving past ego-based fears
9:50 What are the metrics to determine "success"?
13:39 Relationship and disconnect between emotional intelligence and selling
16:39 How different generations show differences in emotional intelligence in leadership
18:24 What are some habits of an employee with good emotional intelligence?
21:30 How the world would be different if we were all taught about emotional intelligence at an early age
24:37 EQ vs IQ
29:00 When lack of emotional intelligence stunts your career growth
31:50 Staying consistent
33:10 How do you know if you're a good leader?
34:47 internal change before external change

Serious Episode- Sorry

It’s Jared Johnson of First Internet back on the podcast this week! $100+mm years, content creation, closers, authenticity and business acquisitions, we’re talking about it all!

Learn what kind of sacrifice, dedication, and value-add is needed to earn the spot of a top producer right here.

 __________________________________________________

This episode is sponsored by:

Rapid Business Plans

Rapid Business Plans is the go-to provider of business plans and feasibility studies for government guaranteed small business lenders. For more information, or to set up a Get Acquainted call, email Bethany McClellan at Bethany@rapidbusinessplans.com

Lumos Data

Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance. If you're ready to take your small business lending to the next level with cutting edge analytics visit lumosdata.com. ‌

__________________________________________________

Navigate this episode:

2:00 Introducing Jared Johnson

2:50 At what point will you be satisfied with your sales? Discussing Jared's sales record

6:04 Gratitude and continued relationships from borrowers

11:05 A top-producing BDO's involvement in closing

13:00 Discussing trust in your closer and if incentives make sense

19:30 Serious post- Sorry; Jared's viral LinkedIn post and thoughts on authenticity

23:46 Creating the ability to be a top-producer and sacrifice that comes with it

30:22 Confidence is key

33:53 Shifting from BDO to an advisor; finding your passion in your business

36:32 Working on business acquisitions

38:40 Deal fall outs this year

44:04 Jared's day-to-day work break down

45:35 Content creation; finding the time and the balance

In this episode we bring you a LIVE panel discussion from The BDO Retreat in Miami!

Join us for a panel discussion with top producing BDO's: Dennis Wagner, First National Bank, Ryan Kroge, First Internet Bank, Shane Pierson, Grasshopper Bank, and our host, Ray Drew.

This episode is all about achieving success, meeting your potential, and maximizing your efforts. Listen in as our panelists give you the in's and out's on their path to success, their BDO superpower, honing in on your purpose, and the best tips for establishing relationships, referral sources, and efficiency.

One take away from this episode... challenging yourself will always pay off. This crew really delivered with the tips you need to succeed, don't miss out!

Don't forget to leave a review and subscribe to be notified of new episodes!

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This episode is sponsored by:

Able

Able is an a AI-powered deal acceleration platform that streamlines the most hated process in SBA lending: document collection and management.

You can learn more about Able and schedule a demo by going to www.able.ai

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Lumos Data

Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance.

If you're ready to take your small business lending to the next level with cutting edge analytics visit lumosdata.com.

Welcome to Part 2 of our State of Small Business Panel on The Art of SBA Lending Podcast with William "Bill" Woodard, Chief Credit Officer at T Bank, Jordan Hallam, Director of Government Guaranteed Lending at SouthState Bank, Nick Roach, President and CEO of Stone Bank.

In this episode we cover which industries are hot right now, why you should be thanking your servicing teams, spikes in deal fall-outs and pay-offs, unpacking valuation gaps, and increased brandawareness of SBA since covid.

Don't forget to subscribe to stay up to date with new episodes dropping every Thursday morning!

Navigate this episode

1:55 Which industries are doing poorly and which are doing well right now?
5:12 What trends have you noticed from home improvement businesses born in the Covid era?
9:20 Giving credit and props to your servicing teams
11:15 Noticing a spike in pay-offs
14:25 Making revisions to origination based on analyzing your portfolio
17:41 Cautiously optimistic origination
19:20 Unpacking the valuation gap
21:52 Fragility of transactions and deal fall-outs in acquisitions
23:40 Construction industry insights
25:19 Increase in demand and brand awareness for SBA due to PPP
27:42 YOY SBA volume trends for 2023
29:04 One lesson you learned in 2023
32:12 Another one of Ray's games- what inning of this economic cycle are we in?
34:09 One thing to look forward to in 2024

This episode is sponsored by:

Rapid Business Plans

Rapid Business Plans is the go-to provider of business plans and feasibility studies for government guaranteed small business lenders.

For more information, or to set up a Get Acquainted call, email Bethany McClellan at Bethany@rapidbusinessplans.com

Lumos Data

Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance.

If you're ready to take your small business lending to the next level with cutting edge analytics visit lumosdata.com.

Welcome to the newest season of The Art of SBA Lending Podcast!

This week we are kicking off with part-one of a fan-favorite, panel-style episode discussing the (surprising) state of small business.

Our host, Ray Drew welcomes Bill Woodard, Chief Credit Officer at T Bank, Jordan Hallam, Director of Government Guaranteed Lending at SouthState Bank and Nick Roach President and CEO of Stone Bank.

Listen to their takes on the state of small business and how it’s not quite going the way we expected, managing relationships with borrowers that aren’t communicating favorably and how to change that, deferment requests, protecting your bank and the benefits of meeting a borrower in person during the lending process.

Remember to subscribe to our channel so you don’t miss part-two!

2:15 introduction to the panel
3:45 The state of small business is ____
6:01 How are small business borrowers doing right now?
8:13 Why the current state of small business is surprising us
9:40 Are borrowers more likely to inquire about deferment requests and concessions these days?
13:55 How the panel handles deferment requests, navigating isolated incidents and protecting your bank
22:12 Dealing with borrowers who don't communicate
24:19 Servicing the loans to enhance borrower communication post-close
28:08 Should lenders be providing ongoing financial analysis as a service for borrowers?
32:22 Should meeting borrowers in-person be the standard?
35:38 Importance of "character", intuition and site visits
41:45 Throwing good money after bad money. When a borrower needs working capital, what do we do?

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This episode is sponsored by: 

Able | 

Able is an a AI-powered deal acceleration platform that streamlines the most hated process in SBA lending: document collection and management.

You can learn more about Able and schedule a demo by going to www.able.ai

Lumos Data | 

Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance.

If you're ready to take your small business lending to the next level with cutting edge analytics visit lumosdata.com 

In this episode we welcome our first guest of the new year, Sherry Martin!

Sherry is the Director of Client Bank Development at SBA Complete.

She's had a life-long passion for the success of small businesses, has worked every role in SBA, started shops from the ground up, and could teach everyone a thing or two about leadership.

Listen in as Ray and Sherry get into a conversation about how her background inspired the success and growth of her career today, her insights into the biggest challenges the SBA is currently facing, and how she has become such an effective leader in her space.

Hope you enjoy and don’t forget to subscribe! Happy new year!

In this weeks can't-miss episode Ray sits down with his former boss, Mark Gibson, National Sales Manager at First Internet Bank .

Ray first met Mark while working at Ready Capital- an experience in which Mark gives credit for preparing him for the difficult feat of starting and scaling a national SBA program to the top 10 the way that he did.

Mark goes over some key aspects of what has made First Internet so successful, including the importance of a Chief Credit Officer, staying one step ahead, and communication with your staff.

Listen in to hear more about his experience and how First Internet solidified its spot at the top. Don’t forget to subscribe and share our channel if you’re enjoying our episodes!

Navigate this episode:

2:16 Intro to Mark Gibson
4:16 Marks initial vision for First Internet and strength of current SBA industry
8:38 Marks background influenced his ability
to scale First Internet
13:00 Keys to success that make a shop stand out
19:25 What makes a good BDO and what it takes to have a great BDO team
23:26 The pitfalls of starting an SBA shop
25:55 How important is a Chief Credit Officer to a shop?
30:15 Credit culture at First Internet
34:25 Capacity for credit team
36:30 Marks biggest strength, previous roles and mentorship
44:00 Has the new SOP impacted First Internets business plan?

This episode is sponsored in part by:

Able is an a AI-powered deal acceleration platform that streamlines the most hated process in SBA lending: document collection and management.

You can learn more about Able and schedule a demo by going to www.able.ai

Baker Lewis | Baker Lewis is the SBA lending industry’s premier executive search and personnel consulting firm.

In this weeks episode Ray sits down with Tom Pretty, Head of SBA Lending at TD.

From heading up the SBA division at the top bank on the East Coast, to his background as a BDO himself- Tom has great insight to give our listeners when it comes to management and leadership, balancing the peaks and valleys of managing a department, setting yourself up to win, and achieving success at scale in the small loan arena.

Tune in now to hear his top tips for leveling up as a BDO, and be sure to sign up for Ray's weekly sales tip email series, Sales Ammo, on our website today!