The BDO model—it’s reliable and proven, and clearly I’ve been a fan, but is the industry missing out on better alternatives?

We’re getting into it on todays new episode. Join me and our Art of SBA Contributors as we break down the costs, the strengths and potential pitfalls, and alternative options for the BDO model.

Should we be exploring new sales channels?

Are we leaning too heavily on BDO’s?

How do we build a culture that retains top talent?

Listen to our takes this week with:

• Chris Hurn – Founder & CEO of Fountainhead Commercial Capital

• Mike Breckheimer – President & CEO of Windsor Advantage

• Ken Rosenthal – Senior Advisor at Momentus Direct Capital

This episode is sponsored in part 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 go to http://www.rapidbusinessplans.com/art-of-sba

In this episode, host Ray Drew delves into the transformative changes within the SBA 7(a) Small Loan Program.

With the new SOP increasing what they consider a “small loan” from $350,000 to $500,000 and streamlining processes, SBA lending has seen a renaissance in small loans.

Key topics covered include:

• The shift in the secondary market favoring smaller loans

• The role of major banks in processing these loans

• How major banks are stepping up their game for small loans

• Fintechs role in sourcing these small loans

• Strategies for creating and scaling a sustainable small loan program

Ray brings in more Art of SBA Contributors to share their own first-hand experiences with the changes, and break down the essentials of originations, processing and underwriting in the new and growing small loan landscape of our industry.

This weeks contributors:

• Mike Breckheimer, President and CEO of Windsor Advantage

• Darren Davis, President of SBA Lending at Colony Bank

• Christopher Hackney, President of SBA Lending at BayFirst and cohost of the BDO Show

Tune in to discover how your bank can navigate and thrive in this evolving landscape of SBA small loans. Don’t miss this in-depth analysis and expert panel discussion!

Navigate this episode:

Introductions

1:30 Ray introduces and this weeks topic: The rise of the SBA Small Loan Program

7:05 Introduction to this weeks Art of SBA Contributors

7:25 How our panelists banks are handling small balance loans currently and moving forward.

Discussing Originations

11:30 Sourcing deal flow and partnerships with fintech’s

12:35 Keys to success when working with high volume small loan brokers

Discussing Credit

23:00 Creating an efficient, scalable system without taking on more risk

25:20 Auto-decisions for smaller loans

26:55 The possibility of SBA turning into fintech

Overall views of the SBA Small Loan Program

32:25 Biggest obstacle SBA shops face heading into this next era

35:33 Bottle necks in SBA

38:40 Success stories and positive impacts on business owners

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.

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 go to http://www.rapidbusinessplans.com/art-of-sba

Loving The Art of SBA Lending episodes? Make sure to follow along with our sister shows, The BDO Show and SBA Today, each week with the links below!

Https://www.YouTube.com/@thebdoshow

Https://www.YouTube.com/@sbatoday

BDO’s…let’s start your weeks strong! Sign up for our weekly sales advice series, Sales Ammo. Every Monday morning wake up to a piece of Rays sales advice in your inbox to help you rise to the top.

Subscribe here:

https://www.artofsba.com/army-of-bdos

Head to www.artofsba.com for more information and to sign up for our must-read monthly newsletter to stay up to date with The Art of SBA Lending.

Welcome back to The Art of SBA Lending podcast! A place where the most influential leaders in the SBA lending industry come together to debate, discuss, and drive our industry forward.

In today's episode, host Ray Drew kicks things off, addressing the increasing impact of politics on SBA lending. From SOP changes to funding challenges, the SBA mission for diverse funding, and the implications of the 2024 presidential elections, no stone is left unturned.

Join us as we dive into a dynamic panel discussion with three esteemed Art of SBA Contributors:

• Brooke Mirenda, President and CEO of SEDCO

• Bob Coleman, Founder and Publisher at Coleman Report

• Chris Hurn, entrepreneur and SBA lending veteran

Our experts will share their insights on:

• How politics has permeated SBA lending

• The potential impact of the 2024 elections on SBA programs

• The evolving mission of the SBA and its focus on diverse groups

Tune in now and let us know your thoughts!

Navigate the episode:

1:15 Ray speaks on political implications on SBA and the upcoming election

5:54 Panelist introductions

6:20 Has the SBA gotten more political in recent years?

7:30 Will the party in power change the course of the SBA’s core missions of access to capital and job creation?

8:25 Is there a difference between republican administration vs democrat administration when it comes to getting money out the door for Americas small businesses?

9:45 Should it be a part of prudent lending to consider race or gender when making a decision to lend?

13:50 Is there a lower demand of underserved communities requesting SBA loans? What can be done about it?

24:30 What do the next 4 years look like if Trump wins?

29:22 What do the next 4 years look like if the democratic nominee wins?

33:25 How will whoever wins the election impact the printing of new SBLC licenses?

39:50 Why isn’t there a private version of the SBA 7a loans program? Is that a potential contingency plan for the industry if it goes south?

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.

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 go to http://www.rapidbusinessplans.com/art-of-sba

Loving The Art of SBA Lending episodes? Make sure to follow along with our sister shows, The BDO Show and SBA Today with the links below and sign up for our weekly sales advice email series, Sales Ammo!

https://youtube.com/playlist?list=PLy96bxmDpxgc_Xe8QV5cRxx3Ov4G2-OLX&si=LKPyAmIHZ47Yepef

https://www.youtube.com/@theartofsbalending

https://www.artofsba.com/army-of-bdos

Head to www.artofsba.com for more information and to sign up for our must-read monthly newsletter to stay up to date with The Art of SBA Lending.