Know The SBA Requirements to Avoid Guaranty Errors with Business Acquisition Loans in 2020
Date: Tuesday, December 17, 2019
Time: 2:00 p.m. Eastern
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Successful baby boomers are aging and selling their small businesses at record numbers.
The SBA 7(a) loan is a perfect loan product for many institutions to finance transactions with strong cash flow, but poor collateral coverage.
Biz Aq loans clearly fit into SBA’s credit elsewhere and capital to access missions.
But, SBA 7(a) financing has traps with the biz aq loan. The Office of Inspector General warns lenders the highest incident of loan fraud is in biz aq loans. Lenders must take all appropriate steps to mitigate risk.
Understanding seller and buyer motivations is key. The loan underwriter must address these concerns satisfactorily in the SBA 7(a) credit memo.
The down side is Biz Aq loans have the highest incident of SBA lender errors in underwriting, closing and servicing — resulting in SBA 7(a) guaranty repairs and denials.
Former SBA Little Rock Loan Servicing Center Deputy Director Lance Sexton will show you how to avoid these mistakes.
Equally important Lance will also give tips to Chief Credit Officers and Loan Committees what they need to know to avoid these mistakes.
- SOP 5010 (K) Biz Aq Loan Guidance
- SOP 5010 (K) Equity Injection Requirements
- Structuring the Biz Aq Loan
- What CCO’s and Loan Committees Need to Know in Approving the Biz Aq Loan
- What to do when Real Estate is Involved
- Determining the amount of the Equity Injection
- Seller carry-back issues
- Documentation seller financing
- Documenting Equity Injection
- Goodwill issues
- Acquiring a Franchise
- The New SBA Franchise Loan Requirements
- Intricacies of Determining Franchise Eligibility
- Documentmenting Franchise Eligibility
- Determining Borrower Affiliations
- Special Cash Flow Calculation Considerations
- Risk Mitigation and Collateral Shortfall Strategies
- Landlord Waiver
- Assignment of Lease
- Business Valuation Requirements
- Real Estate Appraisal Requirements
- Site Visit Requirement
- Special SBA Biz Aq Topics Requirement in the Credit Memo
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.
Moderated by Bob Coleman, the Author of “Money Money Everywhere and Not a Drop for Main Street.” He is the founder of the Coleman Publishing, a publisher of books, data, newsletters and reports and a producer of conferences, webinars and 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 including the Wall Street Journal and Bloomberg. 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.
His passion is getting capital to Main Street and Rural American small business.
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