Join hosts Paul Long and Tonya Mazurek on this insightful episode of "SBA Today" as they are joined by veteran SBA expert Lance Sexton.

Lance taps into his wealth of experience to discuss critical aspects of SBA lending, including nuanced intricacies of SOP requirements, the strategic use of loan appraisals, and the launch of Phoenix Lender Services. With a background in leading SBA departments and possessing an exceptional understanding of the industry, Lance offers precision-driven insights into the evolving landscape of SBA lending.

In this episode, the hosts and Lance dive deep into the complexities of SBA loan documentation requirements, addressing key questions about the use of SBA forms and appraisals in loan processing.

The episode also highlights the challenges faced by lenders in understanding and interpreting the SBA SOP, with Lance advocating for a balanced approach to underwriting. Additionally, the groundbreaking announcement of Phoenix Lender Services promises to transform service offerings to SBA lenders across the country, as Lance speaks on the formation of an experienced team dedicated to improving the SBA lending process.

Key Takeaways:

• Lance Sexton has announced the launch of Phoenix Lender Services, offering comprehensive SBA lender services.

• SBA lending requires careful interpretation of SOPs, which are often less clear and concise than desired.

• Using the SBA 1919 Form is recommended on small loans, despite the possibility of using other forms.

• Junior mortgages on residential real estate are usually beneficial for commitment rather than for recovery purposes.

• The new SBA administration may bring changes to current SOPs, especially sections labeled with "do what you do."

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.

Are you a business owner or prospective business owner? Let’s see how we can help you.

If your business or perspective business is in:

Washington, Oregon, or Idaho contact: Paul Long at Gesa Credit Union plong@gesa.com

Colorado, Texas, Missouri, Florida, Arizona, and Tennessee contact: Tonya Mazurek at Midwest Regional Bank tmazurek@mwregionalbank.com