SBA Shutdown 7(a) and 504 Bridge Loan Financing Options
Time: 2:00 p.m. Eastern
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Due to the numerous questions we received after our January 17th Coleman Report Live! show, Coleman is scheduling a webinar on how to structure bridge loan financing for your pending SBA 7(a) and 504 borrowers.
The webinar will consist of two parts — SBA 7(a) and 504 bridge loan financing options.
Bridge financing for SBA 504 loans is already in place by a number of bridge loan lenders.
One panelist, Chris Hurn of Fountainhead Capital announced an interim SBA 504 bridge loan financing program last week. He will discuss logistics, including structure, rate and terms.
We will also list other SBA 504 bridge financing lenders.
SBA 7(a) is more problematic. But, there are two options. One is for a bridge SBA 7(a) lender. We hear of a number of lenders offering this product. If we identify one or two by the webinar, we will present their programs.
The second alternative is for you to fund a bridge loan for your borrowers in greatest need to protect earnest money deposits or who are in imminent danger of closing their doors. We will recommend to you how to structure the bridge loan, set rates and terms, and how to fund the loan. Then we will recommend a strategy how to refinance the loan with an SBA 7(a) loan — called refinancing same institutional debt.
For this option, Lance Sexton will take you step-by-step what to do, and the best chance you have to convert the loan to an SBA 7(a) once the SBA Shutdown is over.
To be clear, you bear the risk to portfolio the loan if it may not convert to an SBA 7(a) loan. BUT, it is our editorial belief SBA will react favorable to these transactions. After all, the goal of SBA lending is to benefit the borrower. We strongly believe SBA’s commitment to Main Street will not block these transactions as the clear intent is to benefit the borrower, and not the SBA 7(a) lender.
Obviously, these transactions are not to convert questionable assets on the lender’s books and have the SBA take over a loss.
But, there are refinance debt rules to follow.
The SOP is very clear refinancing same institutional debt is allowed, although the transaction may not be processed PLP, and must be processed GP.
BUT, it is allowed if you follow the SOP. Lance will help you structure the loan to offer the best chance to get an SBA authorization after the fact.
FULL REFUND POLICY — If the SBA Shutdown is announced to end anytime before midnight January 23rd, the date of the webinar, Coleman will refund 100% of your webinar fee.
Fountainhead is Chris Hurn’s second go as an entrepreneur in SBA 504 lending. In 2002, he founded Mercantile Capital Corp., which specialized in lending to small business owners (first in Florida, but then the company began operating nationwide) using the SBA 504 program. Chris sold Mercantile to Orlando-based Old Florida National Bank late in 2010. When Old Florida reached a deal to be acquired by IberiaBank in 2014, Chris saw this as an opportunity to return to his entrepreneurial roots and create Fountainhead, making not only interim second mortgages (like Mercantile), but also focusing on ground-up construction loans and becoming an active first mortgage lender for SBA 504 loans.
Lance Sexton served as Deputy Director of the SBA Little Rock Commercial Loan Servicing Center managing 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.
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.
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 firstname.lastname@example.org. He will email the certificates to all attendees.
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 email@example.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 $589.
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 firstname.lastname@example.org, and he will schedule a test run.
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.
You will receive the PDF handout via email the day before the event. These may be distributed to all of your attendees.
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 email@example.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 $200 more ($589), 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.
1) Previous customers need only to send an email to firstname.lastname@example.org with “Register SBA Shutdown 7(a) and 504 Bridge Loan Financing Options 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, 28081 Marguerite Pkwy, #4525, Mission Viejo, CA 92690
5) Click “Add to Cart” to pay using PayPal
Editor, Coleman Report
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