A CRM for SBA loan brokers

An SBA loan can take weeks to months between application and funding, with tax returns, personal financial statements, debt schedules, business plans and projections passing back and forth. The deal record keeps the documents with a type, status and history, and stips show what has been requested and what is outstanding.

Every card on the board shows time in status, and owners can set automatic conditions that every new deal starts with. Tasks with due dates (call the lender, chase the 4506-C, update the debt schedule) sit on the deal and on each rep's task list.

Most SBA lenders publish minimums for credit score, time in business and revenue, and some exclude industries or states. Put those rules on each lender's SBA program and lender matching tells you which lenders the file fits before you spend hours packaging it. Rules marked soft warn instead of disqualify, which suits the judgement calls SBA lending involves.

Lender-specific requirements that are not built-in metrics, such as collateral or equity injection, can live in custom fields on the deal.

Business owners waiting on an SBA loan often need working capital now. Because the same CRM handles lines of credit and merchant cash advances, you can place a short-term product as a separate deal on the same merchant, and the timeline shows both. Be sure the client understands how the short-term payment affects the SBA lender's debt service review.

Referral and packaging fees on SBA loans are paid by the lender or the borrower depending on the arrangement, and they arrive weeks after closing. Commission tracking records the expected amount when the deal funds, the date it is received, and any split with a referral partner. Check SBA rules on agent fees and the required disclosure forms with the lender before you agree a fee.