Best Practices for Working out a Defaulted SBA Loan
A Coleman Webinar
When: Tuesday, July 6, 2010
Price: $189.00
Order now and you will receive a DVD with a recording of the entire conference. You can use the DVD for training of additional staff at a later date, or go back and listen again. We will also include the transcript and send it with the DVD.
The Coleman Report Franchise Default Charge-Off Rate will also be included at no additional cost (a $295 value).
"The webinar provided valuable information and insight." - Nathaniel Booker, First Innovative Financial Group, Inc
The SBA workout professional has seen a dramatic shift in his or her job description during the past several years.
What was common practice in 2007 is not even on the radar screen in 2010. The challenging environment of the past several years has honed SBA workout specialists' skills to higher levels of expertise.
Our expert panel of national SBA liquidation and workout specialists will discuss what is expected in 2010 from these professionals -- and more importantly, what SBA expects in their job performance.
This webinar will focus on these challenges. In particular, it will focus on the current atmosphere at SBA's national liquidation office in Herndon, Virginia -- focusing on the difference between myth and reality.
This webinar will discuss the critical steps you must take when if you a loan begins sliding toward default.
You will learn the difference between working out an SBA loan and a conventional loan. With always being mindful of what you must do to protect your guaranty.
Topics of Discussion include:
The difference between working out a conventional loan, and an SBA loan.
Understand the difference in working out different SBA loan types, i.e. PLP, GP, 504, SBAExpress etc.
Residential real estate liquidation
Commercial real estate liquidation
Business asset liquidation
Enforcing the personal guaranty
Work out options
Deferments
How to get SBA to approve a loan modification
Settlements
Forbearance agreements
Payment plans
Guarantor Bankruptcies
Differences between conventional and SBA loan bankruptcies
What is the Matrix?
Finally, tips to submit a solid SBA guarantee repurchase package
What you will learn:
The specific steps you must be follow for the work out of all SBA loans.
The key dates that you must adhere to protect the guarantee. You will learn what to do when SBA does not respond to your queries.
When you must ask SBA's permission
When you must notify SBA
What to do when SBA turns down your request
Where to find an ombudsman to help you navigate through SBA's bureaucracy
What to do if you hold the first lien position ahead of an SBA 504 debenture
How SBA evaluates settlement offers and what to look for in for a settlement offer
Join Three National Experts:
Ethan Smith
Partner
Starfield & Smith, P.C.
As a closing attorney for commercial lenders, Ethan prepares and reviews loan files for conventional, SBA 7(a) and 504, and USDA B&I loans, confers with loan processors and in-house counsel, and drafts, analyzes and negotiates loan documents. He has closed hundreds of government guaranteed commercial loans through the SBA 7(a) and 504 loan programs, through the USDA B&I program, and has closed numerous conventional commercial financing transactions, including asset-based, real estate, and factoring arrangements.
Stephenie Frazier Whitfield
Director of Government Guaranteed Lending
Minerva Consulting LLC
Stephenie Frazier Whitfield is a graduate of the Georgia Institute of Technology and Howard University School of Law. From operating her own business consulting firm in Washington, DC to working as a business banker in the fourth largest U.S. bank and an SBA lender for community banks in the Southeast, Stephenie has met the financing needs of small businesses for 13 years.
Gregg Sherrington
Vice President
Fidelity Bank
Gregg currently manages a portfolio of over 200 7(a), USDA B&I, and 504 1st mortgage loans for Fidelity Bank. His team of 8 processor/closers, servicers, and liquidation specialists ensure that each loan is closed properly and then serviced and, if needed, liquidated to maximize value on the sale of collateral and preserve the full value of any guaranty. He has successfully used receiverships, in multiple situations, to protect assets and keep the business going during the liquidation process. Using targeted marketing, his team has sold distressed notes, property at foreclosure auction, and OREO property at amounts well above appraised values. And for 7(a) loans, the guaranty packages his team assembles, in conjunction with the expertise that ensured a clean closing up-front, have resulted in 100% payment of the guaranty generally in a 2-3 week time frame.
Moderator:
Bob Coleman
Editor
Coleman Report
Bob Coleman is the Editor of the Coleman Report, an online media company covering the small business banking industry. He is the nationally recognized expert on small business banking. He is frequent contributor for Fox Business News. He has been quoted by all major financial media outlets including the Wall Street Journal, New York Times, CNN and Bloomberg.
Who should order?
SBA Department Managers
SBA Loan Underwriters
Special Assets Personnel
Liquidation Attorneys
Business Appraisers
Real Estate Appraisers
Delinquent Borrowers
What is the format?
Our webinars are based on a radio-talk show program format. Your host, Bob Coleman, will moderate the program. He will ask questions of
top-notch national experts. Their answers will be the substance of the
program.
Ethan Smith
Stephenie Frazier Whitfield 
Gregg Sherrington
Moderator: