In this episode, Ray shares the common mistakes made during the BDO interviewing process and how they can lead to an unsuccessful BDO hire - and no one wants that! Tune in to learn how banks and BDO’s can avoid this in the first place.    26 questions Ray asked a previous potential employer during the interview process:  

1. Funding sources and restrictions (non-bank lenders)
2. Construction lending appetite
3. Existing portfolio make up / issues 
4. Approval process / signature or committee?
5. Geographical restrictions or preferences 
6. Any limits on unsecured exposure 
7. Property type restrictions
8. Industry restrictions
9. Does all RE get discounted to 85% (other than vacant land?)
10. How often do you go GP?
11. What are the advance rates on multi-use, hotels, other special purpose real estate, business acquisitions, and start up?
12. Are there any hard and fast rules on personal credit or is it case by case?
13. Any rules of thumb for Post-close liquidity 
14. Do you allow gifts of funds for equity injection?
15. How do you assess the need for working capital in a transaction?
16. Do you do any projection based lending? 
17. DSC requirements
18. Equity requirements (100% financing?)
19. Business acquisition lending philosophy 
20. Is seller financing required to be a part of the transactions?
21. Is direct industry experience required?
22. How do you view add backs?
23. Do you use a 25 year term on a transaction where 51% of proceeds are RE and 49% are business goodwill?
24. Do you ever refinance other SBA 7a loans?
25. Start up franchise guidelines 
26. How is due diligence ordered?