Are you Maximizing Your SBA 7(a) Loan Liquidation Recoveries? – Webinar 9/11
A 2025 Review of SBA’s 24-Month Litigation Plan and 30-Day Wrap-Up Report Policy
A Coleman Webinar
Date: Wednesday, September 11, 2024
Time: 2:00 p.m. Eastern
Includes e-certification & recording
Are you struggling with complex SBA liquidation approvals and afraid of missing critical deadlines?
Do you know what steps you must take to obtain SBA’s approval for an extension if you don’t complete liquidations within 24 months of guaranty purchase?
Lance Sexton will help you navigate the rules for perfect compliance of SBA policies and reporting requirements.
By attending this webinar, you’ll gain the knowledge to navigate SBA’s complex liquidation rules with confidence. You’ll learn how to expedite the process, avoid costly mistakes, and reduce charge-off amounts from your liquidation efforts.
Bring your entire servicing and liquidation staff for a flat fee of $800!
As a former SBA Deputy Director of the Little Rock Loan Servicing Center, Lance will provide expert guidance on:
- Compliance Review of Mandatory Deadline Dates
- Required SBA Litigation Plan Approvals
- Site Visit Requirements
- Fixing Missed Deadlines
- Monthly Reporting Requirements
- New Tips for Litigation Plans
- How to Streamline Completion of the Wrap-up Report
- A Review of all Allowable Care and Preservation of Collateral Expenses
Lance will discuss SBA’s expectation of what a prudent lender must do for the following litigation challenges:
- Is urgent action required due to extraordinary circumstances?
- Have workout options been explored?
- Is borrower litigation expected?
- Has a judgement for attorney fees and costs been requested?
- Is an SBA witness required?
- Is appointment of a Receiver being requested?
- Are attorney travel expenses being requested?
- Are there any environmental concerns?
- Are damages sought for alleged Lender misconduct?
- Are there novel, unsettled, or potentially precedent setting legal issues?
Lance will also discuss how to obtain SBA approval with other non-routine litigation matters:
- Litigation where legal fees are estimated to exceed $10,000
- Litigation involving a loan where a Lender has an actual or potential conflict of interest with SBA
- Litigation involving a 7(a) loan where the Lender has made a separate loan to the same borrower which is not an SBA loan
- Importantly, Lance will also tell you precisely what SBA expects a prudent lender to do under emergency litigation circumstances
- How to prepare and submit an amended litigation plan as soon as notified of an emergency legal or care of preservation of collateral event
- What SBA considers a good faith effort to obtain its approval
- The emergency actions you may take without SBA’s approval
- And absolutely the emergency actions you may not take without SBA’s approval
The webinar teaching points include:
- Don’t forget site visits dates
- How to get SBA Approval of Legal Expenses — Know how much to budget that SBA will approve.
- Care and Preservation of Collateral 101 — Learn what SBA expects from a “prudent” lender.
- Documentation of Legal and CPC Expenses —
- The allowable Recoverable Expenses — Ensure you are capturing all allowable liquidation expenses available for SBA reimbursement.
- The litigation plan — Know how and when to prepare the litigation plan.
- Getting the litigation plan approved by SBA — Insider tips by Lance Sexton to get your plan approved quickly, with enough flexibility to anticipate the unexpected.
- Changing the litigation plan — Know the information and format SBA wants, and what must do, when circumstances force changes in the litigation plan.
- How to remit SBA’s share of recoveries post purchase — Failure to remit recoveries post-purchase will negatively impact your PARRiS score and even jeopardize renewal of your PLP status.
- Filing the Wrap Up Report — Failure to file a wrap-up report will void your guaranty, negatively impact your PARRiS score and even jeopardize renewal of your PLP status.
Coleman Report Webinar Benefits:
- Coleman Report webinars provide solutions to problems that left unaddressed will jeopardize the SBA loan guarantee.
- We give management the tools to create prudent credit boxes compliant with SBA’s standard operating procedures.
- We train your staff to ensure compliance of existing and new SBA rules and regulations.
- Tips that solve difficult SBA underwriting, servicing and liquidation challenges.
Your Training Staff
Lance Sexton
A former small business owner, Lance Sexton has a successful history of working with small business owners and students related to entrepreneurship and SBA loan origination, servicing, and liquidation. He has received three training industry awards for his webinar instruction and his 8-week loan closing course. Lance has over 30 years of experience, including ten years directly managing portfolios of SBA loans. Lance was an entrepreneurship faculty member of the Sam M. Walton College of Business at the University of Arkansas. He is an Executive Vice President of Fountainhead Commercial Capital and has been affiliated with Coleman Publishing for over eight years.
Bob Coleman
Bob Coleman is the founder of Coleman Publishing, a publisher of newsletters, reports, data, conferences, webinars, online training videos — to help finance professionals become small business lending experts. Bob is the nationally recognized expert on small business financing. He has appeared frequently on Fox Business News, NPR and other numerous media outlets. He is sourced by all print media. He is a frequent speaker about small business lending throughout the US and EU. Bob has a BA in Medieval History from the University of California Santa Barbara and a MBA in Real Estate Finance from the University of Southern California. Bob has earned numerous awards as a producer of events and video training. His passion is getting capital to Main Street and Rural American small business.
How the Webinar Works
We use Microsoft Teams as the webinar platform.
We will open the webinar for attendees to join at 1:30 pm ET. This will give each attendee thirty minutes before the webinar begins to troubleshoot any technical issues. Call (818) 790-4591 if you need assistance.
Recording
All Coleman webinars are recorded and a link is sent to all attendees.
Single Site License
The single site license grants your institution one viewing of the webinar. It is permissible to use a single site license on one device in a conference room to be viewed by multiple attendees The webinar can be viewed on any device.
Multiple Site License
A multiple site license is an unlimited access pass for anyone at your institution. You will be given a link that will be usable to anyone with your email domain.
Webinar Links and Handouts
The webinar link will be included on your sales receipt.
The link will also be included when we send the presentation and handouts. These will be sent by eod the day before.
Participants Earn Certificates of Participation
All Coleman Webinar attendees will receive a certificate of participation. This documents your continuing education history for SBA and your regulators.
Questions
Questions throughout the webinar are strongly encouraged. There are two ways to ask a question. The first is to ask the question via the chat in Microsoft Teams. The second is to send an email to anna@colemanreport.com. Also, feel free to ask pre and post-webinar questions.
The Fine Print
1) Substitutions are allowed at no charge.
2) Cancellations receive a 100% credit for any Coleman product.
3) As with all our products, we offer a 100% money back satisfaction guarantee — no questions asked.
3 Easy Ways to Order
1) ONLINE — Register and pay online via Stripe
2) EMAIL –Send an email to cindy@colemanreport.com with “Webinar Registration” in the Subject Line. We will do all the paperwork and either send you a sales receipt or an invoice.
3) PHONE — Call us at 818-790-4591.
Bob Coleman
Publisher, Coleman Report
bob@colemanreport.com