“Without continual growth and progress, such words as improvement, achievement, and success have no meaning.”
−Benjamin Franklin

It’s October, so autumn is here for real, even if the leaves aren’t turning color where you are. For me, fall represents reflection and change. It’s my favorite time of year. For us here at J.R. Bruno & Associates we’re starting to reflect on our year as a team and prepare for our year to come.

And for all of us in SBA world, we know changes are on the way.

Change isn’t always easy and it can be stressful, even if it’s good stress. So one of the things I’ve always done to prepare for change is review what I call my “Toolbox.” Do I have the tools I need to do my job effectively and efficiently?  How can I best support our clients’ needs and help them achieve positive results?

What tools do you need to be successful in SBA lending?  My thoughts for some basics to keep in your toolbox:

  • SBA Servicing & Liquidation Actions 7(a) Lender Matrix – Version 14. As of May 1, 2018 it’s the version in use now, but it’s always good to check the SBA website once in a while to be sure you’re using the most recent version.
  • SOP 50 10 5 – We’re on version (J) now but it looks like change is on the horizon and (K) may be just around the corner.
  • SOP 50 57 – Version 2 is our guiding model now, but also could see some changes in the near future.
  • Publications: Have you subscribed to vendor and government notifications to help you keep up to date on all things SBA?

Then, there are the extra tools you’ll need to stay on top of change. When I was a lender, I kept a list of common websites and contact information I used for SBA lending in my “Bible” – my SBA Toolbox — on my desk. It was a joke around the office that if you didn’t have the latest info on SBA you could find it in Rebecca’s “Bible.” My staff often stopped by and made copies of key pages for their desks so they wouldn’t need to keep coming to me. Guess what? I still have this toolbox on my desk and update it regularly.

Maybe you should create your own SBA Toolbox and share it with your staff and any new employees who come on board. That way you’ll all be operating from the same set of tools.

Change isn’t always easy but keeping the right tools handy makes it a lot easier.

Happy Fall everybody!

Rebecca Mendoza
Senior Associate