Chart Your Best Course in SBA Lending!

Chart Your Best Course in SBA Lending!

Chart Your Best Course in SBA Lending!

Independent Loan Review

Be proactive with your loan reviews!

CDCs, you need to choose wisely when obtaining your independent loan reviews; and choosing wisely means choosing the most experienced CDC / SBA 504 Program expert in the market today and that choice is Power Steering Unlimited, Inc. In CFR 120.826, Basic Requirements for Operating a CDC, the SBA sets forth in part b.(3)., operations and internal controls., that a CDC board of directors must adopt an internal control policy which must, at a minimum…

In CFR 120.826, Basic Requirements for Operating a CDC, the SBA sets forth in part b.(3)., operations and internal controls., that a CDC board of directors must adopt an internal control policy which must, at a minimum…

“…Direct the operation of a program to review and assess the CDC’s 504-related loans. For the 504 review program the internal control policies must specify the following:
(i) Loan, loan-related collateral, and appraisal review standards, including standards for scope of selection (for review of any such loan, loan-related collateral or appraisal) and standards for work papers and supporting documentation;
(ii) Loan quality classification standards consistent with the standardized classification systems used by the Federal Financial Institution Regulators:
(iii) Specific control requirements for the CDC’s oversight of Lender Service Providers; and
(iv.) Standards for training to implement the loan review program:”

To meet these standards, SBA recommends that a CDC obtain an independent review of its 504 loan portfolio. To complete your Independent Loan Review, Power Steering has developed a federally-based sampling methodology and a straight talking approach to your review report that will provide you with valuable feedback on your portfolio and add current general commentary on what other organizations are seeing in their SBA reviews (as much is allowed based on SBA confidentiality requirements).

Start Charting Your Best Course in the 504 Loan Program!

Mary Kropp Benton

Mary Kropp Benton

President

Nationally recognized speaker and expert in the 504 loan program

Power Steering Unlimited Inc. logo

Start Charting Your Best Course in the 504 Loan Program!

Mary Kropp Benton

Mary Kropp Benton

President

Nationally recognized speaker and expert in the 504 loan program

Power Steering Unlimited Inc. Logo

Start Charting Your Best Course in the 504 Loan Program Today!

Mary Kropp Benton

Mary Kropp Benton

President

National recognized speaker and expert in the 504 loan program