capital growth solutions, llc ggriffin@capgs · 2018-02-08 · linkedin premium ... how can you...
TRANSCRIPT
Presenter: Gary E. Griffin – Capital Growth Solutions, LLC
We would like to thank Gary Griffin for his time on this webinar and providing information regarding his
experience in lending and working on SBA loans from his perspective.
All opinions, conclusions, and/or recommendations expressed herein are those of the presenter(s) and do not
necessarily reflect the views of the SBA.
1) 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) 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
5 5 5 5 5
4 4 4 4 4
3 3 3 3 3
2 2 2 2 2
1 1 1 1 1
results 18 - 25 yes
15 11 - 17 maybe
10 & < no
Ability to repay (DSC)
1.5 + current & 2 prev year 5
1.5 current & 1.25 prev 2 yrs 4
1.25 current & 1.1 prev 2 yrs 3
1.25 current 2
projections w/out 1.25 or > 1
Management Ability
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
Industry Ranking by SBA success rate
91 - 100 5
81 - 90 4
71 - 80 3
61 - 70 2
60 & < 1
Credit Score
765 - 820 5
710 -764 4
655 - 709 3
600 - 654 2
< 600 1
Collateral (discounted value)
101% + 5
100% - 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”).
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 [email protected]
Tell him Gary sent you!!!
PRODUCT DESCRIPTION
1000 Company Downloads per seat Global Database List Building with 175+ filters SmartLists® updated 24/7 Company Summary Conceptual Search
D&B Hoovers Seats: 1 - 3
Contact Decision Matrix
Strategic Initiatives
Competitors
Industry Peers Closest Companies News Triggers® Available Add-On: 1000 Business Contacts (max limit)
Standard Contacts
TOTAL INVESTMENT $3,800.00
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.
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; email; 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.
Gary E. Griffin President & CEO
2245 Olan Mills Drive Chattanooga, TN 37421
Office: 423-475-5700 Cell: 423-593-0976 Fax: 423-475-5699
Please be sure to visit our website at: www.capgs.com
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 [email protected] to see what we could do to make YOUR SBA operations more profitable! We WANT your business!!! G²
Maria Lloyd at [email protected] or (615) 736-7427 x232
Lisa Denson at [email protected] or (615) 736-2991 x247
Rick Haney at [email protected] or (304) 623-7449
Leo López at [email protected] or (304) 347-5220
Or contact your local LRS (www.sba.gov)