Tips to Ensure a Smooth Loan Closing

A 75-minute webinar that allows your staff to earn e-certification.

A Coleman Webinar
Date CHANGE: Wednesday, July 28, 2021
Time: 2:00 p.m. Eastern
Download a Registration Form

During the recent SBA 7(a) Quarterly call to lenders, SBA revealed it is increasing their reviews for compliance with SBA Settlement Sheet 1050.

SBA wants to ensure the following documents match:

  • Use of Proceeds
  • Credit Memo
  • Loan Authorization
  • SBA Settlement Form 1050

Register your staff for this important Coleman Webinar lead by Award Winning instructor Lance Sexton.

He will guide you through the maze of SBA regulations to create flawless use of proceeds loan documentation.\

Additionally Lance will review equity injection guidance and SBA Form 1050.

What your team will learn:

  • Who should sign SBA Form 1050
  • Required documentation to support 1050 disbursements
  • Resolving disbursement inconsistencies between the credit memo, loan authorization, and 1050
  • Adjusting use of proceeds categories
  • Ineligible disbursements
  • Documenting cash expenses, i.e. auction
  • Understanding partial disbursements
  • Matching SBA Form 159 with SBA Form 1050
  • Allowable lender and borrower 1050 disbursement
  • Documenting the standby note
  • Documenting equity injection
  • Equity injection requirements
  • Equity injection rules for SBA 7(a) loans
  • Equity injection rules for SBA 504 loans
  • The 5 equity injection fraud red flags
  • A thorough understanding of the traps associated with gifts and gift letters
  • How to set borrower equity injection requirements for loans less than $350,000
  • How to set borrower equity injection requirements for loans over $350,000
  • How to document equity injection for SBAExpress loans
  • The 4 proper sources of equity injections
  • Two improper sources of equity injections
  • The absolute SBA required documentation of equity injection to protect the guaranty
  • What SBA requires you to do to verify a cash injection
  • How to document intangible and non-cash assets
  • Case studies examples to reinforce proper SBA equity injection requirements
  • And, of course, the 13 common equity injection mistakes lenders make that jeopardize the SBA loan guaranty

Specific Instructions for Completing the Form:
1) In the first section, fill in all identifying information. For “Loan Type,” check the box to indicate whether the loan is a term loan or a revolving line of credit.

2) Complete the “Use of Proceeds” section with information related to the initial disbursement.

a) On the line associated with each applicable use of proceeds, indicate:
i) The name of the payee (must identify the ultimate recipient, not an intermediary such as a title company);
ii) Amount disbursed; and
iii) Remaining amount to be disbursed, in accordance with the Authorization.
b) For the “Settlement charges/out of pocket costs” line, insert total amount of settlement charges and other out of pocket costs in the appropriate field within the grid. Attach an itemized list of all charges and costs, including the name of payee and amount paid for each charge or cost. Reminder: SBA Form 159 is required for all fees paid or to be paid by the Lender (except Lender Service Provider fees) and for all fees paid or to be paid by the Applicant to any agent in connection with the SBA loan application.)
c) For “Other (Explain),” enter any other use of proceeds authorized in the Authorization that is not already listed in the grid, if applicable.

3) Complete the “Borrower’s Injection” section.
a) For each type of injection, indicate the source.
b) If the Seller contributed toward required equity, attach a copy of the Note and evidence of full standby for the life of the loan.
c) Note: The Borrower’s Injection must be in the business bank account prior to any disbursement of loan proceeds.

4) The Lender and the Borrower must review the certification and execute the form in the space provided.

Your Professional Coleman SBA Webinar Instructors:

Lance Sexton, Coleman Faculty Instructor 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 earned three industry SIPA awards for “Best Online Learning Product”.

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 BankOZK and has been affiliated with Coleman Publishing for over five years.

Bob Coleman is the Author of “Money Money Everywhere and Not a Drop for Main Street.” He 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 SIPA industry awards including “Podcast of the Year” and as a producer of events and video training.

His passion is getting capital to Main Street and Rural American small business. Webinar Details

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.

Participant Questions Questions are strongly encouraged. There are two ways to ask a question during the webinar. 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 and post-webinar questions.

How the Webinar 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. Note we will open the webinar for attendees to join at 1:30pm 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.

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) 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. Five Easy Ways to Order!

Five Easy Ways to Order!

1) Previous customers need only to send an email to joseph@colemanreport.com with “Register Coleman Webinar” 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 Pkwy #4525, Mission Viejo, CA 92690
5) Click “Add to Cart” to pay using PayPal

Settlement Sheet SBA Form 1050



Bob Coleman
Editor, Coleman Report
28081 Marguerite Pkwy, #4525
Mission Viejo, CA 92690-4525
(818) 790-4591
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