Fact: The single biggest cause of SBA guaranty denials is faulty closings. If your loan closers fail to comply with tricky—and intricate—SOP 50 10 5(I) requirements, it can cost your bank millions of dollars. To ensure that your staff fully comply with all procedures and necessary documentation, this training provides an insider’s look at tips and techniques for closing SBA loans with impunity. The result: Speedier closings, reduced repair charges and elimination of SBA guaranty denials.
Lance Sexton is the Former SBA Deputy Director, Little Rock Commercial Loan Servicing Center. Lance managed the Servicing of SBA Loans, the liquidation of SBA Express Loans, and the Liquidation of SBA 504 loans in a 24 state area. Lance has 30 years of experience in the origination, servicing, and liquidation of SBA Loans, ten years of experience directly managing portfolios of SBA loans that are both performing and nonperforming, and six years of experience as a small business owner. He has served as Vice President, Senior Vice President, and Executive Officer of three community banks building and managing SBA portfolios at each bank. Lance also was a faculty member of the Sam M Walton College of Business at the University of Arkansas teaching entrepreneurship courses.
- Participants receive weekly notifications of the uploaded Video Modules, Quizzes and reading materials.
- Each segment averages ten minutes. Each session ends with a short quiz.
- The segments consists of a number of teaching tools. Lectures will be augmented with case studies.
- Total instruction over the eight weeks will be about 30 hours.
- There will be assigned reading materials drawn from the SOPs, SBA Inspector General audits and the weekly Coleman Report trade newsletter.
- The course load averages three to four hours a week.
- Don’t worry if you miss a week due to vacation or real life issues. All video segments will be archived for you to review at your own pace at a later date.
- At the end of the course you may choose to take a final comprehensive exam.
- Once you pass the exam, you receive the professional designation of “Coleman Certified SBA 7(a) Closer”
- In addition, participants will have access to bonus “live” online office hours each week, so you can ask any questions about the SBA 7(a) process.
Week 1 — SBA 7(a) 101 and Eligibility Overview
SBA 7(a) 101
Importance of Loan Closing
The Prudent Lender
SBA Eligibility – Ownership & Borrower Character
SBA Loans Under $350,000
SBA Loans Over $350,000
SBA Eligibility – Loan Structure & Purpose
SBA Inspector General and SBA Lender Ethics
Week 2 — The SBA 7(a) Loan Authorization
SBA Loan Authorization
SBA Loan Wizard
The Credit Memo
Changes to the SBA Loan Authorization
Use of Proceeds
Week 3 — SBA Form 1920, Lender’s Application for Guaranty
1920 and The Credit Memo
1920 and Eligibility Questions
Credit Elsewhere Rule
1920 Recent Changes
Week 4 — Documenting Equity Injection
Equity Injection — Impact on the Guaranty
Equity Injection Fraud
Verifying the Equity Injection
Business Acquisition and CRE
Week 5 — SBA 7(a) Loan Documents
SBA 7(a) Loan Checklist
SBA Form 147 and 148
SBA Form 1919
SBA Form 912 and 159
SBA Express Loans
Week 6 — Other Loan Closing Documents
Collateral and Citizenship
Assignment of Lease
Franchises and Affiliation
Week 7 — Funding the SBA 7(a) Loan
Use of Proceeds
Construction Loans and Guaranty Fee
Week 8 — Transferring the File to Loan Servicing
Loan File Setup
SBA Lender Review
Final Test — SBA 7(a) Loan Closer Certification
What platform does the Coleman online course use?
We use Litmos as the platform. You will access the course from the Litmos website without downloading anything to your computer.
How many weeks does the course run?
How much time will I need to devote to the course?
Three to four hours per week.
How do the segments work?
Each week is divided into segments averaging ten minutes each.
Do I have to finish each segment every week?
No, you may complete the course at your own pace.
Are there reading assignments?
There will be assigned reading materials drawn from the SOPs, SBA Inspector General audits, and the Coleman Report newsletter.
Tell me about quizzes.
At the end of each segment there will be a short multiple-choice quiz to test your mastery of the segment. Segments may be viewed as many times as you wish.
What are Office Hours coaching sessions?
Each Thursday at 1:00pm ET you will have the opportunity to log in and discuss the week’s topic. If you miss a session, office hours will be recorded and archived for your future use.
How do I become a certified Coleman SBA Loan Closer?
At the end of the course, you may choose to take a final exam. Those who score 90% or higher will receive a certification plaque. The exam is open material and may be taken as many times as you wish. Or, you may choose to complete a case study.
Is there an additional fee to become a Coleman Certified SBA Loan Closer?
How much does the course cost?
The fee is $995.
Thank you for the Class, I thoroughly enjoyed and have taken a lot away. Your course will make me a better SBA liquidator which will effectively save the Bank of North Carolina money, time, and energy in liquidating their SBA credits. Thank You! — Bill Kerns, Vice President, Special Assets, Bank of North Carolina
Coleman’s SBA 7(a) Loan Underwriter course was a great investment! Bob’s thorough presentation of SBA’s requirements for underwriting and processing 7(a) loan applications, together with the real life case studies, increased my confidence that I can do SBA 7(a) lending right! It was a very beneficial ten weeks!
Garry Throckmorton, Sr. EVP, Community Ventures, Lexington, Kentucky
This SBA One course has helped me in so many more ways than I ever expected, and want to extend my gratitude. You guys are great! Alicia K, Loan Documentation Processor
Thanks for the info, much appreciated. Thank you again for a great course. I must admit my initial scepticism of any online class. Your format and delivery was dead on! I liked the video modules, reading assignments, and the office hours really tied things together. Thanks again! — Ben Kirker
1) Previous customers need only to send an email to firstname.lastname@example.org with “Register Closer Training” in 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, 28081 Marguerite Parkway #4525, Mission Viejo, CA 92690
5) Click here for paying using PayPal
Editor, Coleman Report
28081 Marguerite Pkwy, #4525
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