The Ten Steps in Negotiating the Offer in Compromise of a Small Business Loan
Wednesday, June 26th, 2013
2:00 p.m. to 3:15 p.m. Eastern
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The grand idea has failed. The loan is in default.
And now it appears likely your borrower will not have the ability to pay off the loan completely after liquidation of all collateral.
Do you force the borrower into bankruptcy? Or do you go another direction — the offer in compromise of the deficiency loan balance where it may be appropriate to settle for less than the full amount due.
This webinar will detail the ten steps you must complete in order to arrive at a successful, fair outcome for all parties.
The amount being offered must be reasonable. There must be an appropriate relationship between the estimated net present value of the projected recovery.
The advantage to the lender is you can collect a fair recovery without protracted litigation and other unrecoverable expenses.
Why do an offer in compromise?
Two words; recovery and closure. We will define the principal “first loss is the best loss,” and offer you scenarios when you should embrace the concept.
An offer in compromise gives the lender a relatively swift, cost-effective, worthwhile recovery.
A very important consideration is closure is as important to the borrower, as well as the lender.
Daily facing a delinquent loan destroys lives, health, marriages and family. Borrowers are motivated to “move on” and get their life back.
It closes the books on the deal, and gives everyone finality.
And, if it is an SBA loan, it closes out the case and gets it off their books.
Offer in Compromise has been characterized more than art, rather than science. Every situation is different, but there are basic steps you must follow to be successful.
We will describe in detail the process you need to take to get all stakeholders signed off on a deal — up the chain of bank management, the regulators, SBA if an SBA loan, and of course the borrower.
We will explain the importance of understanding this is a sales process.
We will take a few minutes to address SBA requirements, but the focus of this webinar is how to get everyone to agree to a deal that is fair for all concerned.
You will learn:
• The best way to set the stage of the conversation
• The mathematics of a fair offer
• Recommended negotiating strategies
• What documents must be provided by the borrower
• Public data you can use
• How to sell the deal to a spouse or partner
• How to sell the deal to senior bank management
• How to sell the deal to SBA
• How to handle the 1099 conversation
• How to document source of funds
• How to handle third parties, e.g. the attorney
• How to use the offer in compromise to perfect the SBA guaranty
• What additional documents you must collect for SBA
• What is SBA’s current attitude toward offer in compromise
Who should attend
Small Business Loan Work Out Specialists
Small Business Loan department managers
Chief Credit Officers
This webinar is rated “INTERMEDIATE” for all attendees.
Coleman’s Webinar level of instruction guide:
ELEMENTARY — The webinar assumes the audience has no experience in the topic.
BASIC — The webinar is for small business lenders who have some experience in the topic. The webinar is designed as the Topical 101 course. This is the appropriate level of instruction for managers who oversee the function.
INTERMEDIATE — The webinar solves an unique problem for the small business lending professional. A strong working knowledge of the subject matter is recommended.
EXPERT — The webinar discusses detailed, technical and advanced topics for the well-seasoned professional. A strong working knowledge of the subject matter is a must.
Certificates of Participation
All Coleman Webinar attendees will receive a certificate of participation. This documents your continuing education history for your regulators. Also, this documents the answer for SBA’s Review question of continuing staff education.
We will automatically forward a certificate of participation for those who are registered to attend the webinar via Go-to-Webinar.
If you have purchased the unlimited site license and would like certificates for all who attend, please forward their names and email addresses to firstname.lastname@example.org. She will email the certificates to you.
Join Coleman’s Expert SBA Instructor:
Adept Advisors, Inc.
Mr. Hardee is the founder and president of Adept Advisors, Inc., a professional education and consulting company where he co-authored and published The Complete SBA Lending Management System. Larry Hardee previously was a business development officer for Business Loan Express. He has over seven years experience in the direct selling of SBA loans. Previously, he was president of Security Federal Savings Bank of Florida. Hardee is a nationally recognized speaker for the SBA lending industry and has been the keynote speaker for numerous national SBA conferences including senior management retreats, and statewide conferences in California, Texas, Florida, Georgia and Alabama. He holds a BS degree in Business Administration from Florida State University.
Bob Coleman is the Author of “Money Money Everywhere and Not a Drop for Main Street“. Coleman is the Editor of the Coleman Report, a trade newsletter for small business bankers. He is the nationally recognized expert on small business financing. He has appeared on Fox Business News and CNN and has been quoted by all major financial media outlets including the Wall Street Journal, New York Times and Bloomberg. He has spoken at numerous small business banking events across the United States, including international engagements in the U.K. and Germany. Coleman has a B.A. in Medieval History from the University of California Santa Barbara and a M.B.A. in Real Estate Finance from the University of Southern California.
About Coleman Webinars
Coleman is the largest producer of small business banking webinars in the country, all taught by the best experts in our industry.
Not only our instructors chosen with care, they are excellent teachers of their craft.
Coleman’s Webinars provide 75 minutes of highly specialized information, access to industry experts, live Q&A, and step-by-step “how-to’s” on a variety of topics relevant to today’s small business banker.
Every month, the author of the bestselling The SBA Loan Book and Get Financing Now. Charles Greene presents a program on a topical small business lending underwriting subject.
Our monthly SBA loan processing and servicing webinars are conducted by Gina Rodgers, banc-serve’s in house training officer.
We rotate our SBA loan liquidation and servicing webinars with the finest experts in the country.
And Bob Coleman hosts a monthly C-level, small business lending management webinar.
Why a 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 $100.
A great benefit of the program is that you have the ability to ask questions directly of the panelists. Or, you may simply email Coleman during the program and he will air your question. 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 Go-to-Webinar as our platform. You will receive a link that will direct you to an Internet site to view the presentation. Nothing will be downloaded to your computer. 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 email@example.com, and he will walk you through it.
New! 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 power point 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 power point.
You may also choose to listen to the program on your telephone.
Before the event, we will email you the presentation that you may distribute to all of your attendees.
Coleman Report News of the Day Starts of 1:50 p.m. Eastern
Log and dial in ten minutes before each Coleman webinar to hear the “Coleman Report News of the Day” with Bob Coleman.
We do this for two reasons. First, the pre-show confirms you are successfully connected to the webinar. Second, we provide you a synopsis of the current news to help you place what is happening to the small business lending industry in context. Join us for this free feature!
The Fine Print
1) The single user registration fee of $289 is based on location not attendance. You may have as many people in one location attend. You many distribute the materials to anybody in your company.
2) For only $100 more, you may invite as many people from your institution from as many locations as you wish. (You also get the DVD 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.
Five Easy Ways to Order!
1) Previous customers need only to send an email to firstname.lastname@example.org with “Register” and the date of the 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 Customer Service at 800-617-1380, extension 1
3) Fax the order form to: 818-790-7859
4) Mail the order form to: Coleman Publishing, 607 Foothill Blvd., # 546, La Cañada, CA 91012
5) Order online here