Mid Year Reflection
Greetings!

They say that time waits for no one and they aren’t joking. Where did the first half of this year go? With PPP origination winding down, the change to the new Fiscal Transfer Agent ramping up, our communities finding their way back, and the return to the commitment of SBA 7a lending it isn’t hard to see how it went by so quickly. 

So, as we say goodbye to June, let's celebrate the coming of July with friends and family. Have a happy and safe 4th of July and we will see you back here for the exciting second half of 2021.
The SBA Notice Nook
While SBA did not issue any Notices this month, they did issue instructions and guidance on the transfer of Fiscal Transfer Agent (FTA) duties from Colson Services to Guidehouse.

If you haven’t already done so, we recommend you check out FTA Wiki and become familiar with the site.

New 1502 Submission and Reporting Timeline – This one pager provides important dates track with regard to your monthly 1502 7a and PPP Submissions during the transition.
THE IMPORTANCE OF TRAINING...
and Cross-Training your SBA Department

By Rebecca Mendoza
Your SBA Program is only as successful as the sum of its parts. And a key element to success is your people’s awareness of the overall lending picture.

It’s a given that every employee should know their job duties and perform them well. But if they don’t understand how their job fits within all the stages of your program, you’ll end up with misunderstandings – and potentially even internal power struggles – that slow your program down and impact its integrity. On the other hand, when you take a holistic approach to training, you’ll have a dynamic, synergized, and well-rounded team.

Cross-training is about your team’s overall knowledge of fundamental SBA program requirements.
THE LATEST NEWS FROM OUR BLOG
Setting up or Ramping up your SBA Department...read this first!
By Lori McCausland
Whether you are just setting up your SBA department, or ramping up after a hiatus from SBA lending, here are five things every Lender should consider .
The first half of 2021 has been quite a ride, but there is still so much work left to do. This is the time of year where we as Lenders and Service Providers start reviewing our strategic plans, assessing what we have been able to accomplish and what is yet to be done. With that comes tweaking and updating that plan for next year’s goals and objectives.

LRM Lender Consultants offers services that can assist with all aspects of your SBA program whether you are addressing goals not yet achieved such as annual reviews and training or you are preparing for next year. Contact us at 877-576-0819 or visit us online to schedule a free 30 minute consultation today.


Your Team at LRM Lender Consultants,
Lori N. McCausland
CEO
LRM Lender Consultants Inc.
484-645-3987
Rebecca L. Mendoza
President
LRM Lender Consultants Inc.
949-294-8490
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