, Checklists, SOPs and procedures, oh my!

Greetings!

“Education is not the learning of facts, but the training of the mind to think.” – Albert Einstein

Your staff needs to know and understand how the SBA SOPs shape and form their job duties.

And it’s just as important for them to be attentive to the process and offer solutions when roadblocks appear – or even when they don’t appear, but there’s an opportunity for improvement.

The best solutions usually come from the people doing the day-to-day work, and not from management.

SBA Notice Nook

Final Rule: Streamlining & Modernizing the 7(a), Microloan, & 504 Loan Programs issued 6/30/2022

Shuttered Venue Operators Grant Public Report issued 7/5/2022

PPP FAQs for Borrowers & Lenders issued 7/8/2022

SBA Table of Size Standards issued 7/14/2022

Weekly Lending Reports issued 7/22/2022

SBA Franchise Directory issued 7/28/2022

5 Reasons to Keep Training your SBA Team

We’ve been receiving a lot of requests for training – and we love that our clients rely on us to help them make sure their SBA teams are prepared and ready for the complexities of SBA lending.

Our clients tell us of five primary reasons why they need help.

LEARN MORE

THE LATEST NEWS FROM OUR BLOG

Common SBA Servicing Errors

(and what to do about them)

By Rebecca Mendoza

Your SBA loan guarantee may be at risk during the eligibility, closing and funding stages if not documented properly. You knew that.

But then come the servicing requests and tasks. And errors made in processing Borrower servicing requests or regular servicing tasks can lead to repairs to or denials of your guarantee.

These are the most common errors we see, with tips to help you avoid them.

Mistakes happen because of a lack of training, the rush to get things done, or because we’re sure we know the answer and don’t need to follow a checklist.

But even neurosurgeons and airline pilots use checklists!

We encourage you to develop them and make sure your people use them. And then we also encourage you to listen to your people to verify that the checklists actually work for them.

Because when checklists aren’t helpful, they won’t get used, and you’ll be back to square one: making mistakes.

Call us today to discuss how we can assist you (877) 576-0819. Follow us on LinkedIn to get our most recent blog posts or check out the Blog page on our website.

Your Team at LRM Lender Consultants,