in today's episode, we welcome Sterling back from his Europe trip, roast Ray Drew's Spreadsheet skills, and discuss building robust relationships with other business development officers (BDOs).

"Relationship building with other BDO's is really probably the secret sauce for my success as a BDO."

Creating a network of fellow lenders can often outweigh even direct broker relationships.

There is tremendous value in being at the forefront of other bankers' minds. When another BDO encounters a loan they can't process—whether due to geographical limitations or specific credit appetite—they can refer it to you if you've established a solid relationship.

This networking isn't just about exchanging business cards; it involves engaging in meaningful conversations about each other's processes, credit boxes, and overall banking experiences.

"Talk to a bunch of different bankers and start to build kind of a banker network."

Continuously nurturing these relationships through lunches, dinners, and genuine interactions helps keep you top of mind, ensuring that you're the BDO they think of when they encounter deals they can't handle.

How do you handle Deal Trading with other lenders? Let us know at [email protected].

This episode is sponsored by: Peak Business Valuations

Peak Business Valuation works with over 80 SBA bank lenders across the country, performing around 1,100 SBA-compliant Business Valuations and 100 Equipment Appraisals a year.

Those whom we work with label us as fast, reliable, and insightful.

For more information, visit their website www.peakbizval.com or email Ryan Hutchins at [email protected]

CHAPTERS

0:00 | Introduction

4:08 | Building Success Through Networking with Other Lenders

12:23 | Compensation and Ethics in SBA Lending

15:27 | Fraud in SBA Lending

19:34 | Legal and Compliance Issues in Deal Trading

25:16 | Building Long-Term Relationships in SBA Lending

32:40 | Building a Lender Network and Knowing Their Specialties

33:46 | Travel, Haircuts, and Spreadsheet Mastery

The views and opinions expressed in this program are our own and/or those of our guests. They do not necessarily reflect the views or positions of our employers.