Preparing the Herndon SBA 7(a) Ten Tab Guaranty Package
Presented By:Ethan W. Smith
Date:July 23, 2013
Sponsored by PCFS 2000
Length: Approximately 75 minutes
2:00 PM Eastern
1:00 PM Central
12:00 PM Mountain
11:00 AM Pacific
To register for this event, click here.
What you Need to Know about ARAA SBA 7(a) Loan Purchases
SBA’s Guaranty Purchase Package. Seems simple enough to put together, but if you don’t do it right, you don’t get the money and it can make for lots of problems up the chain of command at your institution. Chief Credit Officers who want to make sure their staff is dotting all the “i’s” and crossing all the “t’s” in their submissions to Herndon MUST take advantage of our upcoming webinar.
It’s the most inexpensive peace of mind you can purchase.
This webinar will include detailed instructions on: the importance of checking your SBA Loan Authorization to assure that all necessary documents have been included in the package, verifying that said documents have been completed and executed per the SBA loan authorization, cautions about paying attention to the note, detailed information about submitting your package electronically, and top reasons for denial.
We will focus on the current SBA environment of processing your SBA 7(a) guaranty purchase packages.
Special attention will to given to SBA Inspector General oversight of the process, especially ARAA loans and early defaulted loans.
Finally, there will be an in-depth discussion of what exactly SBA expects from lenders from the new SOP – specifically the language that demands full disclosure of missing documentation to the agency.
Join Starfield & Smith’s, Ethan Smith as he walks you through exactly what SBA wants in each of the ten tabs:
1) Demand Letter
2) Loan Authorization
4) Legal Documentation
6) Transcript of Account
7) Early Default
8) Reconciliation of Business Personal Property Collateral
9) Collateral Disposition
10) General Information
You will learn:
Common traps to avoid
And even better yet — UNCOMMON traps to avoid (Ethan has seen ‘em all)
How to complete the liquidation wrap-up report
What do to if the balance is less than $10,000
The exact definition of an early-defaulted loan
What you need to know about SBA’s Inspector General Involvement in ARAA (SBA 7a stimulus) loans What the SBA is looking for in a good package
Tips on how to secure missing documents
Why you should be the one to recommend a repair, and how to arrive at the number
What information and materials must absolutely, positively be submitted with your package
What can legally and ethically be omitted from your package
What to do if you get stuck
Who you can and should call for help
This webinar is rated “EXPERT” for the attendees.
Coleman’s Webinar level of instruction guide:
ELEMENTARY — The webinar assumes the audience has no experience in the topic.
BASIC — The webinar is for small business lenders who have some experience in the topic. The webinar is designed as the Topical 101 course. This is the appropriate level of instruction for managers who oversee the function.
INTERMEDIATE — The webinar solves an unique problem for the small business lending professional. A strong working knowledge of the subject matter is recommended.
EXPERT — The webinar discusses detailed, technical and advanced topics for the well-seasoned professional. A strong working knowledge of the subject matter is a must.
Who should attend:
Small Business Banking Managers
Loan Workouts Specialists
SBA Loan Workout Specialists
Chief Credit Officers
Questions are encouraged. There are two ways to ask a question. The first is to ask the question via the chat box on the GoToWebinar dashboard. The second way is to send an email to email@example.com.
Also, feel free to ask pre-webinar questions.
Certificates of Participation
All Coleman Webinar attendees will receive a certificate of participation. This documents your continuing education history for your regulators. Also, this documents the answer for SBA’s Review question of continuing staff education.
We will automatically forward a certificate of participation for those who are registered to attend the webinar via GoToWebinar.
If you have purchased the unlimited site license and would like certificates for all who attend simply forward their names and email addresses to firstname.lastname@example.org. She will email the certificates to all attendees.
Join our Expert Instructor:
Starfield & Smith, P.C.
Ethan focuses his practice in business law, with an emphasis on commercial lending, government guaranteed lending, mergers and acquisitions, real estate, contracts, commercial and corporate law. He is a closing attorney for various lenders nationwide, including PNC Bank, Live Oak Bank, Wells Fargo/Wachovia Bank, Beneficial Bank, US Bank, 44 Business Capital, Eagle National Bank, Susquehanna Bank and Univest National Bank and Trust Co. Ethan is also a designated closing counsel for several Certified Development Companies that operate in Pennsylvania, New Jersey and Delaware. In addition to representing commercial lenders, Ethan represents and counsels a number of small businesses in a variety of contexts, including mergers and acquisitions, corporate governance, and contract and real estate matters.
Bob Coleman is the author of Money Money Everywhere and Not a Drop for Main Street. Bob is the editor of the Coleman Report, a trade newsletter for small business bankers. He is the nationally recognized expert on small business financing. He has appeared on Fox Business News and CNN and has been quoted by all major financial media outlets including the Wall Street Journal, New York Times and Bloomberg. He has spoken at numerous small business banking events across the United States, including international engagements in the U.K. and Germany. Coleman has a B.A. in Medieval History from the University of California Santa Barbara and a M.B.A. in Real Estate Finance from the University of Southern California.