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The State of Small Business feat. Nick Roach, Jordan Hallam, & Bill Woodard | Ep. 131
Manage episode 397537499 series 2772787
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Welcome to the newest season of The Art of SBA Lending Podcast!
This week we are kicking off with part-one of a fan-favorite, panel-style episode discussing the (surprising) state of small business.
Our host, Ray Drew welcomes Bill Woodard, Chief Credit Officer at T Bank, Jordan Hallam, Director of Government Guaranteed Lending at SouthState Bank and Nick Roach President and CEO of Stone Bank.
Listen to their takes on the state of small business and how it’s not quite going the way we expected, managing relationships with borrowers that aren’t communicating favorably and how to change that, deferment requests, protecting your bank and the benefits of meeting a borrower in person during the lending process.
Remember to subscribe to our channel so you don’t miss part-two!
2:15 introduction to the panel 3:45 The state of small business is ____ 6:01 How are small business borrowers doing right now? 8:13 Why the current state of small business is surprising us 9:40 Are borrowers more likely to inquire about deferment requests and concessions these days? 13:55 How the panel handles deferment requests, navigating isolated incidents and protecting your bank 22:12 Dealing with borrowers who don't communicate 24:19 Servicing the loans to enhance borrower communication post-close 28:08 Should lenders be providing ongoing financial analysis as a service for borrowers? 32:22 Should meeting borrowers in-person be the standard? 35:38 Importance of "character", intuition and site visits 41:45 Throwing good money after bad money. When a borrower needs working capital, what do we do?
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This episode is sponsored by:
Able | Able is an a AI-powered deal acceleration platform that streamlines the most hated process in SBA lending: document collection and management. You can learn more about Able and schedule a demo by going to www.able.ai
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
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