Menu Toggle Search

Collecting SBA Loans: Critical Steps in Protecting the SBA Guaranty

Mar 24 2:00 PM - Mar 24, 2020 3:30 PM
Mar 24, 2020 2:00 PM - 3:30 PM

Trying to collect SBA loans can be tricky. The SBA has very specific collection rules that must be followed to protect your SBA guarantee. Do you know the proper steps to collect and liquidate 7(a) and 504 loans?

Learning Objectives

  • Follow the collection rules under the SBA 7(a) and 504 guaranteed loan programs
  • Explore the SBA 7(a) lender matrix for servicing and liquidation actions
  • Review the SBA 504 Third Party Lender Agreement
  • Create an appropriate liquidation plan• Properly document your loan file under SBA rules

It is imperative to protect the SBA guaranty – and the rules are strict. For example, your institution must notify the SBA within specific deadlines after taking certain collection actions, but you must obtain the SBA’s prior approval before taking other collection actions. In addition, you must document the business justification for your collection actions and retain the supporting documentation in the loan file so the SBA may later determine if your collection actions were commercially reasonable and complied with the SBA’s requirements. In addition, institutions are often required to submit a formal liquidation plan to the SBA. This webinar will explain the proper steps to collect and liquidate SBA 7(a) and 504 loans, the two most common SBA guaranteed loan programs.

Agenda

Speakers

Elizabeth Fast, JD, CPA, Spencer Fane LLP

Elizabeth Fast is a partner with Spencer Fane LLP where she specializes in the representation of financial institutions. Elizabeth is the head of the firm’s training division.She received her law degree from the University of Kansas and her undergraduate degree from Pittsburg State University. In addition, she has a Master of Business Administration degree and she is a Certified Public Accountant. Before joining Spencer Fane, she was General Counsel, Senior Vice President, and Corporate Secretary of a $9 billion bank with more than 130 branches, where she managed all legal, regulatory, and compliance functions. She is a member of the Missouri State Banking Board by appointment of the Governor.

Location

Fees

$259.00

Live and recorded webinar, handouts, quiz with answer key and training log are included.

Additional Info

Event Type

Webinar

Topics Covered

  • Live Webinars
  • Compliance
  • Lending & Collections