February 23, 2016
By Bob Coleman
Editor, Coleman Report
SBA Hot Topic Tuesday — Is Rural Lending Important to You?
This edition of SBA Hot Topic Tuesday focuses on its sister program USDA’s Business & Industry Loan Program.
Today, we have a survey and invitation to meet the Washington DC USDA B&I staff in April.
1. Have you been involved with the USDA B&I loan program?
2. Given the choice, would you process a USDA B&I loan, or one through SBA?
3. Which states do you prefer to process USDA B&I loans?
4. Are there any states you will avoid? Please list.
5. Which state processes your USDA loans fastest?
6. Which state processes your USDA loans the slowest?
7. In 2010, Judy Canales, USDA Administrator, and her staff told everyone that the USDA B&I Program was a lender driven program. Do you find this to be true?
8. Do you sell your loans to the secondary market?
9. Do you support the concept of a fiscal transfer agent?
10. Finally, please tell us what you like or dislike about the USDA B&I program.
(Survey Link: https://www.surveymonkey.com/r/CBVKGC6)
A Personal Invitation to Meet the USDA B&I Staff in Washington DC
If your lending footprint includes Rural America, you need to come to Washington in April to learn how USDA’s Business and Industry proposed loan program changes will affect your institution.
Mike Thomas of Thomas USAF and I welcome you to join us as our guests to receive a free update of the USDA B&I Loan Program at the Department of Agriculture’s People’s Dining Room on Thursday, April 7th in Washington D.C.
Special guest USDA Rural Business Services Administrator, Sam Rikkers, will deliver the keynote address.
Of critical Importance to you the Washington USDA staff will update you on long-awaited, important program changes that will take effect before the end of the year. Loan budget numbers, loan stats and important initiatives will also be discussed.
The lunch is scheduled from 11 a.m. to 1 p.m.
After lunch, you may join us on the Hill to discuss the USDA rural lending programs with select Congressional members and staff.
Please note seating is extremely limited and the lunch event can only accommodate 50 lenders.
To reserve your spot please contact Joseph Coleman at 626 824-9431 or email him at firstname.lastname@example.org
Bob Coleman, Editor, Coleman Report
Mike Thomas, President & CEO, ThomasUSAF