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New OIG audit warns SBA lenders of major errors with Business Acquisition Loans that can Trigger Guaranty Repairs or Denials

New OIG Audit Warns SBA Lenders of Major Errors with Business Acquisition Loans That can Trigger Guaranty Repairs or Denials
“When Business Ownership Changes: How to Avoid SBA’s Top 10 Underwriting Mistakes to Ensure Your Guaranty” — a 75-minute webinar that lets staff earn e-certification.

Date: Wednesday, November 9, 2016
Time: 2:00 p.m. Eastern
Download a Registration Form

High susceptibility to fraud, default and lender mistakes make business acquisition loans a potential minefield for SBA lenders if not managed prudently.

No wonder the SBA’s Office of the Inspector General recently issued an audit notice of its intent—starting now—to scrutinize more carefully all 7(a) loans involving a change of ownership. The OIG’s justifiable concern is SBA’s past payment of guaranties on loans later discovered to be flawed—in which SBA had to demand repayment of the guaranty.

To prevent clawed back or denied guaranties, lenders must closely follow new SOPs listed in the OIG notice.

This webinar guides underwriters through the 10 most frequent and egregious errors that SBA lenders make in 7(a) loans involving business acquisitions or other new ownership. Most importantly, underwriters will learn exactly what they must do to avoid introducing such offending errors into their loans.

Avoid embarrassment, costly repairs and denial or retraction of loan guaranties when refinancing SBA 7(a) loans
  • Underwriters will understand the findings of the new SBA Inspector General audit and not make the mistakes of their peer group.
  • Management will be comfortable knowing their underwriters are SBA compliant with all of the requirements of change of ownership loans.
  • In the event of a default, the C-Suite can reasonably expect SBA’s payment on the guaranty for change of ownership loans without risk of a denial, or a false claim act filing.
Here are the specific topics addressed in this webinar that will make your staff experts in originating, underwriting and closing business acquisition, or change in ownership loans:
  • The 10 common mistakes SBA 7(a) loan underwriters make that invalidate the guaranty
  • A case study analysis of the 4 change of ownership loans profiled in the new SBA inspector general audit
  • A case study analysis of the 3 loans the OIG recommended for guaranty denial
  • Prudent business acquisition loan structures
  • Business Acquisition loan equity injection underwriting requirements
  • Business Acquisition loan collateral underwriting requirements
  • Business Acquisition loan cash flow underwriting requirements
  • Appropriate business acquisition cash flow addbacks
  • Business Acquisition loan projections underwriting requirements
  • Business Acquisition loan stand by debt requirements
  • Business Acquisition loan broker fee requirements
  • Common frauds to avoid in business acquisition loans
  • Special SBA business acquisition loan underwriting and closing requirements
Taught by a SBA Business Acquisition Expert
  • head_coleman

    Bob Coleman, Publisher, Coleman Report

Bob Coleman is the Author of “Money Money Everywhere and Not a Drop for Main Street.” He is the Publisher of the Coleman Report, a trade newsletter and website for SBA and small business lenders. He produces online training videos and webinars for small business lenders to teach them to make less risky loans to Main Street.

Webinar Details

Certificates of Participation
All Coleman Webinar attendees will receive a certificate of participation. This documents your continuing education history for SBA and your regulators.

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 jeanne@colemanreport.com. She will email the certificates to all attendees.

Questions
Questions are strongly 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 joseph@colemanreport.com. Also, feel free to ask pre-webinar questions.

About Coleman Webinars
Coleman is the largest producer of small business banking video webinars and online training for the banking industry.

Our faculty are professional instructors are the absolute experts in their fields.

Why a Coleman Training Webinar?
It’s very cost effective. No airfare, no hotels. Just cram as many people as you wish into your conference room and turn on the computer. You have several options to view the program. You may watch on screen, or listen in on your phone.

You can choose to have any many connections nationwide as you wish when you purchase unlimited access for only $489.

A great benefit of the program is that you may have your questions answered by the faculty. All of our webinars are recorded. Buyers of the unlimited site license option will receive a DVD recording of the event to share with anyone you wish.

A transcript of the program is also provided to purchasers of the unlimited site license.

How it Works
We use GoToWebinar for the webinar platform. You will receive a link that will direct you to an Internet site to view the presentation. If you would like to test this process to make sure you will be able to access the link through your system’s firewall, just send an email to joseph@colemanreport.com, and he will schedule a test run.

Accessing GoToWebinar
There are two ways to access the webinar. The first is to simply click on the link we will provide when you register.

If you have a firewall issue, or you can’t get the GoToWebinar link to work, don’t panic!

The second way to access the webinar is directly from the GoToWebinar website. You will simply need to input the webinar ID and access code. These will also be provided when you register, and again the day before the webinar when we distribute the handouts.

Note we will open the webinar for attendees to join at 12:00pm ET. This will give each attendee two full hours before the webinar begins to troubleshoot any technical issues. Call (818) 790-4591 if you need assistance.

All Coleman Webinar Speakers are seen Live via Video Stream
You will see our speakers live through a video feed. You may customize the size of the speaker and powerpoint presentations by clicking on the webcam button on the GoToWebinar dashboard. You may position the speakers at the top, bottom, right or left hand sides. You may also choose to eliminate the video stream and just view the powerpoint.

Telephone Only Option
You may also choose to listen to the program on your telephone. The phone number will be provided with the handouts.

PDF Handouts
You will receive the pdf handout via email the day before the event. These may be distributed to all of your attendees.

Replay Link
If something comes up and you miss any part of the webinar, or there are technical issues such as a power failure, Internet dropout, fire alarm drills, actual fires or, earthquake (yes that has happened!) simply email joseph@colemanreport.com and he will send you a link you may watch all or part of the webinar at your leisure. There is no charge for this service.

The Fine Print
1) The single user registration fee of $389 is based on location not attendance. You may have as many people in one location attend. You may distribute the materials to anybody in your company.
2) For only $100 more ($489), you may invite as many people from your institution from as many locations as you wish. (You also get the reply link and transcript!) We will forward you a link that allows you to sign up as many people as you wish.
3) Substitutions are allowed at no charge.
4) Cancellations receive a 100% credit for any Coleman product.
5) As with all our products, we offer a 100% money back satisfaction guaranty — no questions asked.

Five Easy Ways to Order!

1) Previous customers need only to send an email to joseph@colemanreport.com with “Register Business Acquisition Webinar” in the Subject Line. We will do all the paperwork and charge your credit card on file, or send you a PayPal request.
2) Call Joseph Coleman at Customer Service at 818-790-4591 extension 1
3) Fax the order form to: 818-790-7859
4) Mail the order form to: Coleman Publishing, 607 Foothill Blvd., # 546, La Cañada, CA, 91012
5) Click “Add to Cart” to pay using PayPal


Coleman Webinar: Business Acquisition Loan Underwriting Errors



Bob Coleman
Editor, Coleman Report
607 Foothill Blvd # 546
La Cañada, CA 91012
(818) 790-4591
(c) 2016 All Rights Reserved

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