The Rise of the Small Loan Program feat. Mike Breckheimer, Christopher Hackney, & Darren Davis | Ep. 152

In this episode, host Ray Drew delves into the transformative changes within the SBA 7(a) Small Loan Program. With the new SOP increasing what they consider a “small loan” from $350,000 to $500,000 and streamlining processes, SBA lending has seen a renaissance in small loans. Key topics covered include: The shift in the secondary market favoring smaller loans The role of major banks in processing these loans How major banks are stepping up their game for small loans Fintechs role in sourcing these small loans Strategies for creating and scaling a sustainable small loan program Ray brings in more Art of SBA Contributors to share their own first-hand experiences with the changes, and break down the essentials of originations, processing and underwriting in the new and growing small loan landscape of our industry. This weeks contributors: Mike Breckheimer, President and CEO of Windsor Advantage Darren Davis, President of SBA Lending at Colony Bank Christopher Hackney, President of SBA Lending at BayFirst and cohost of the BDO Show Tune in to discover how your bank can navigate and thrive in this evolving landscape of SBA small loans. Don’t miss this in-depth analysis and expert panel discussion! Navigate this episode: Introductions 1:30 Ray introduces and this weeks topic: The rise of the SBA Small Loan Program 7:05 Introduction to this weeks Art of SBA Contributors 7:25 How our panelists banks are handling small balance loans currently and moving forward. Discussing Originations 11:30 Sourcing deal flow and partnerships with fintech’s 12:35 Keys to success when working with high volume small loan brokers Discussing Credit 23:00 Creating an efficient, scalable system without taking on more risk 25:20 Auto-decisions for smaller loans 26:55 The possibility of SBA turning into fintech Overall views of the SBA Small Loan Program 32:25 Biggest obstacle SBA shops face heading into this next era 35:33 Bottle necks in SBA 38:40 Success stories and positive impacts on business owners This episode is sponsored by: Lumos Data Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance. If you're ready to take your small business lending to the next level with cutting edge analytics visit lumosdata.com. Rapid Business Plans Rapid Business Plans is the go-to provider of business plans and feasibility studies for government guaranteed small business lenders. For more information, or to set up a Get Acquainted call go to http://www.rapidbusinessplans.com/art-of-sba Loving The Art of SBA Lending episodes? Make sure to follow along with our sister shows, The BDO Show and SBA Today, each week with the links below! Https://www.YouTube.com/@thebdoshow Https://www.YouTube.com/@sbatoday BDO’s…let’s start your weeks strong! Sign up for our weekly sales advice series, Sales Ammo. Every Monday morning wake up to a piece of Rays sales advice in your inbox to help you rise to the top. Subscribe here: https://www.artofsba.com/army-of-bdos Head to www.artofsba.com for more information and to sign up for our must-read monthly newsletter to stay up to date with The Art of SBA Lending.