Learn How To Recommend The Best SBA Loan To Your Clients Or Prospects!

I became and remained a successful commercial lender because I figured out what I needed to do each step of the way to get my deals from prospecting to funding.  If you have been following my advice, it is basically an aggregation of all the things I did to consistently meet and exceed my production goals.  One of things I made sure I was always on top of is product knowledge!  You need to nail the process of matching your client or prospects borrowing need with the best credit product.  You will build a ton of credibility with your client or prospect as well as your credit team.  Credit teams love when you roll up your sleeves and show them that you know your stuff!  It makes their jobs easier, and they get to trust your judgement!  What does this lead to?  You will get more deals approved and funded faster!

I recently came across an article that summarizes the SBA loans that are available in the marketplace.  See article link below.  You may not offer all of them, but it is worthwhile knowing all the options that are available.  If you can’t help a client or prospect but you know that a certain type of product would be a good fit for them, you will be a rockstar by offering up the information and pointing them in the right direction…rather than just saying no!  You want people to remember you and to make that happen, you need to make a good and lasting impression!  You may not be able to help a client or prospect today, but if you give them an alternative and point them in the right direction…they will remember and give you another shot later on!  The article is a good summary of SBA loans, but it is lacking some information that you will need such as the types of projects that can be financed, maximum loan amounts and qualifying criteria.  If you want a crash course on the most common types of commercial loans (including SBA loans) available in the marketplace, try the free Commercial Lending Toolkit at www.bizpetrol.com. I strongly encourage to read the article.  It is a very quick ready and the information might help you win a few more deals this year! 

Bizpetrol has information, knowledge and tools that will help you become a Business Banking Rockstar.  You can start elevating your business credit skills using the free Commercial Lending Toolkit at www.bizpetrol.com. You can see all the Business Banking News articles (like this one) at www.bizpetrol.com/blog. You can access a series of how-to business banker guides https://www.bizpetrol.com/Downloads-Free.

Follow #bizpetrol on LinkedIn if you want to see more articles like this one in your feed! If you found this article to be useful, please do me a huge favor and spread the knowledge by sharing the article with your colleagues! 

Article Title:  9 Types of SBA Loans

Article URL:  https://smallbiztrends.com/2022/08/types-of-sba-loans.html