Business Lenders, a leading originator of SBA loans, now provides third-party specialized loan servicing for SBA 7(a) and 504 loans.
Why Business Lenders?
- We've been servicing SBA loans since our inception 1994.
- Hands on experience and specialized knowledge of the SBA SOP
- Experienced team of professionals
- State of the art IT infrastructure enabling us to deliver a "paperless" electronic loan file with digital storage and retrieval of loan, property and other related documents.
The benefits of Outsourcing Loan Servicing
- Banks expanding their SBA loan portfolios can focus on credit related processing while reducing the cost and administrative burden of loan servicing.
- Investors can seize opportunities to purchase discounted SBA portfolios and hand-off servicing to a licensed SBA servicer with specialized expertise.
- New SBA lenders entering the market with limited expertise in SBA loan servicing can rely on an expert resource to function as their servicing arm.
Our Loan Servicing Solution Includes:
- Invoicing and payment processing
- Monthly 1502 reporting to the SBA
- UCC and insurance monitoring
- Real estate tax monitoring
- Collecting required financial statements
- Customer service activities
- Payoff Processing
- Collection
- Loan modification and workout
- Liquidating collateral
- Wrap ups and SBA reporting
- Regular management reporting
- Executing secondary market loan sales including processing form 1086
Benefits of Outsourcing SBA Loan servicing:
- Increase operating efficiency and servicing capacity - service more loans with fewer personnel
- Reduce the cost of servicing information technology and infrastructure investments.
- Improve information access to enhance decision-making and risk management with access to in-depth expertise in critical exposure functions (guarantees, insurance, taxes)
- Effectively manage data security, regulatory compliance, and business continuity activities
