1) Senior Management? 2) Department Heads? 3) Business Development Professionals a/k/a The Rainmakers?

Transcription

1 Presenter: Gary Griffin Capital Growth Solutions, LLC ) Senior Management? 2) Department Heads? 3) Business Development Professionals a/k/a The Rainmakers? 1) Commit! 1) Time! 1) Make a plan! 2) Set realistic goals! 3) What is your identity? 2) Resources! 1) The SBA Advocate (your department head)! 2) Social Media and Web Development! 3) Incent what your expect! 4) Spend the money! 1) Training 2) Executive Search 3) Lead generation (web, networking, electronic search engines) 1

2 1) HAVE to have support of executive management! Policies MUST be developed as to PRICING and REFERRAL FEES. 2) HAVE to have collaboration between SBA group and Chief of Credit! 1) Meeting of the minds: 1) What is acceptable to Credit with a SBA guaranty (anything; nothing)? 2) Often need to get EM involved. Credit OFTEN sees SBA as an inferior product, i.e. loans just waiting to go bad. 1) Suggestion: Loan approval matrix. 2) Separate SBA loan policy which is written by BOTH parties and approved at the Board level. Has to be a buy-in by Credit. Pull in SBA NAICS stats to back up your assertions. 3) Double your LLR for SBA s until you have experience! 3) Identify who your REAL customers are; Internal versus External. Approval Matrix DSC Mgmt Credit Industry Collateral results yes maybe 10 & < no Ability to repay (DSC) Management Ability current & 2 prev year current & 1.25 prev 2 yrs current & 1.1 prev 2 yrs current 2 projections w/out 1.25 or > 1 5 years or 3 years & franchise 5 3 years or 1 year & franchise 4 1 year or 0 years & franchise 3 successful in other industry 2 no experience 1 2

3 Industry Ranking by SBA success rate Credit Score & < < Collateral (discounted value) 101% % 81% 4 80% 66% 3 65% 51% 2 50% < 1 Credit Is that you??? Smaller, community Lenders. Don t present C _! You have agreed on what will be approved. Concentrate your efforts in this space. Business Development Personnel Your BDO s (again; is that you???) Other Commercial Lenders Consumer Lenders and Branch Managers What are you doing to fulfill their expectations? BDO s want turn around time. Commit the resources in accumulating the information and closing the loan. Others: Have a hand-off call that emphasizes that YOU (or your designated person ONE person) are the new contact person to manage and expedite the process (the SBA Advocate ). 3

4 Manage Expectations!!! Set timelines Someone touches the loan daily Make this experience one in which the customers ALWAYS will be a referral source for your institution! Make sure someone from your Institution ALWAYS attends closings! Website SEO Separate from Bank s website Too much clutter (the last thing someone THINK s they need is a SBA loan) Social Media (pay someone to do this for you!!!) Warm lead generation tools LinkedIn Premium Hoovers/DNB Cold calls may not be dead, but why spend SOOOOO much time for a 1 in 100 hit? Premium allows you to: 1) Target your Prospects (filtering) 2) Send out 100 connection requests in your market 3) Request meeting (wait a day or so) 1) How can you help them succeed! Secrets to Stress-Free Selling; Derek Strickland Derek.Strickland@trinet.com Tell him Gary sent you!!! 4

5 As to daily activities: 1) ALWAYS return phone calls and ALWAYS be available 2) Attend 2 events per week 3) Become the expert 4) Pay Brokers (ALWAYS vet brokers) 5) Be entrepreneurial (threat your job as if you OWN the Institution) 6) Specialize in something (manufacturing, hotels, franchises (be specific), solar, RV Parks, daycare, C-stores, assisted living, etc.) 7) Be constantly in motion 8) Work harder (smarter???) than the person next to you 9) Don t be discouraged by NO!!! 10) Get internal referrals. 5

6 Join NO MORE than 5 groups and PARTICIPATE (business and industry specific organizations). Membership and Sponsorship committees the best. Do what no one else wants to do. Review at LEAST annually and make sure you are getting solid business contacts. Develop a go-to referral list. Best lenders have 100 (don t exceed 250) they touch 4 times a month. Call; ; clever post card; Tombstone. Be consistent in execution. Develop a budget and set goals and metrics for success ($5M FYP; $15M seasoned professional). Define your message (selling points, competitive advantage, benefits, call to action). Get to know Business Reporter in your market! Cookies; Chic-fil-et; AMEX Gift Cards for Referrals; small gifts for borrowers at closing. Capital Growth Solutions, LLC is a full service SBA loan service provider serving lending institutions throughout the country. We provide complete back-room functions of an outsourced SBA Department or specific services on an hourly basis, as well as group training on all topics SBA. Please contact me at ggriffin@capgs.com to see what we could do to make YOUR SBA operations more profitable! We WANT your business!!! G² 6