Largest SBA Loan Service Provider Gets Acquired (again) feat. Mike Breckheimer | Ep. 169
Release Date: 12/12/2024
Final Episode: Revisiting My Roots (MCC Reunion) | Ep. 191
The Art of SBA Lending
This week marks the finale of The Art of SBA Lending podcast, and Ray Drew brings it home by reuniting with his original mentors and colleagues from the era that shaped his career: the Mercantile Capital team. Listen as they reminisce about the "good old days" of 2011–2013, an era defined by reinventing business after the 2008 crash. The panel discusses how Mercantile Capital was built around the niche business of 504 interim lending (an industry they essentially invented). They recall the unique office culture, characterized by healthy competition, daily in-person mentoring sessions,...
info_outline
The Chip Mahan Interview: CEO of Live Oak Bank | Ep. 190
The Art of SBA Lending
This week on The Art of SBA Lending, we sit down with Live Oak Bank CEO and founder, Chip Mahan, to discuss the revolutionary ideas that transformed the SBA landscape. Chip Mahan, who started the bank in 2008, disrupted the existing SBA playbook by focusing on nationwide industry vertical lending. Chip details the bank's founding during the 2008 financial crisis , when he was told by the FDIC to liquidate the bank. He reveals the unique philosophy that led to the bank becoming a top SBA lender, including: rejecting the traditional commission-based compensation model to properly align interests...
info_outline
Winding Down a Shop while Battling a Major Health Crisis feat. Heidi Whitesell | Ep. 189
The Art of SBA Lending
This week on The Art of SBA Lending, we go behind the scenes with Heidi Whitesell to unpack the leadership, culture, challenges, and ultimate wind-down of a successful SBA lending division. Ray Drew sits down with Heidi, who he calls one of the best leaders he's ever worked for, to discuss the philosophy that created a legendary, family-like culture in a fully virtual, non-bank setting. Heidi shares the vision for her former venture, Fund-Ex, which quickly climbed the national rankings without losing its unique team culture. She reveals her leadership principles, including the powerful belief...
info_outline
USDA Lending: The Last Frontier? feat. Jason Hoerr, Steve Small, & Charles Conoley| Ep. 188
The Art of SBA Lending
This week on The Art of SBA Lending, we explore the world of USDA Business & Industry (B&I) lending, often considered the "last frontier" of government-guaranteed small business finance. Host Ray Drew, who admits to knowing very little about the program, is joined by a panel of USDA experts—Steve Small, Jason Hoerr, and Charles Conoley—to demystify this often misunderstood loan program. The panel provides a deep dive into the B&I program, which is designed to stimulate economic activity and job creation in rural areas (populations of 50,000 or less). They reveal key advantages...
info_outline
Money Store Reunion feat. Joe Weiner, John Handmaker, Sam Renta, & Vince Calicchia | Ep. 187
The Art of SBA Lending
This week on The Art of SBA Lending, we're doing something special: a Money Store reunion episode. The Money Store pioneered the Business Development Officer (BDO) model and revolutionized the SBA lending industry, holding the top position for 16 consecutive years. Host Ray Drew brings together four Money Store alumni-John Handmaker, Vince Calicchia, Joe Weiner, and Sam Renta-to share stories and insights from the company that changed SBA lending forever. The panel reminisces about the legendary BDO boot camps, the company's aggressive marketing, and its commitment to a sales-driven culture....
info_outline
The Loan Broker Panel | Ep. 186
The Art of SBA Lending
This week on The Art of SBA Lending, we're getting a unique look at the state of the SBA marketplace from the perspective of the loan broker. Host Ray Drew brings together a panel of top-producing SBA loan brokers whose combined volume would rank them among the top 1 or 2% of all SBA shops. Joining the conversation are Matthias Smith from Pioneer Capital Advisory, Jerry Freedman from Freedom Business Financing, and Zach Renta from SBA Loan HQ. The panel discusses why the traditional BDO model is becoming outdated as brokers build sophisticated operations and gain direct access to information...
info_outline
The Untold Story of Lendistry's Rise in 7(a) Lending feat. Everett Sands | Ep. 185
The Art of SBA Lending
This week on The Art of SBA Lending, we sit down with Everett Sands, a leader who successfully propelled Lendistry into the top tier of the nation's SBA 7(a) lenders. Everett explains his approach to SBA lending, which involves applying lessons learned from other industries like residential and auto lending to an industry he feels is decades behind. As a fintech and a CDFI, Lendistry occupies a unique space in the market. Everett discusses how his company is leveraging technology and a mission-driven approach to win customers by offering a better, more user-friendly experience than...
info_outline
Casca Has Arrived (and Will Drastically Change How We Make SBA Loans) feat. Lukas Haffer | Ep. 184
The Art of SBA Lending
This week on The Art of SBA Lending, we're joined by Lukas Haffer, co-founder of Casca, to discuss how AI is set to revolutionize small business lending. With a unique background that includes building software for major European banks and earning Standform MBA, Lukas brings a fresh, outside-the-box perspective to our industry. He shares how his company is taking on the "disaster" of small business financing by arming SBA lenders with cutting-edge technology to fight back against predatory online lenders. We dive deep into how new technology can solve the industry's biggest pain points,...
info_outline
Quitting the Bank: Closing 100 Deals in 24 Months feat Heather Endresen | Ep. 183
The Art of SBA Lending
This week on The Art of SBA Lending, we're joined by Heather Endersen, a true veteran of the SBA world with a career spanning decades. Having managed SBA departments and pioneered business acquisition lending, Heather shares her journey and explains why she made the leap from a top-producing BDO at a bank to launching her own brokerage. Heather gets candid about the shift in the SBA landscape, from the rise of business acquisition loans to the changing dynamics between lenders and borrowers. She also pulls back the curtain on the brokerage model, explaining why it's a more efficient way to get...
info_outline
Lending with Heart: Sharing 30 Years of Lessons Learned feat. Diane Heyden | Ep. 182
The Art of SBA Lending
This week on The Art of SBA Lending, I’m sitting down with Diane Heyden to get her take on leadership, career shifts, and the evolving landscape of small business lending. Diane, a seasoned veteran who has worked as a BDO, sales manager, and division manager, shares her unique perspective on what it takes to succeed in an industry where no two people are alike. From a memorable but short-lived move to a bank in Iowa to taking on a new role with a beloved team on the West Coast, Diane unpacks the lessons learned from her own career journey. We also dive into the state of the industry,...
info_outlineIn this episode of The Art of SBA Lending, Ray sits down with Mike Breckheimer at NAGGL 2024 to discuss the ins and outs of starting a lender service provider (LSP) business and navigating the SBA ecosystem.
Mike shares his extensive experience building turnkey solutions for banks, credit unions, and other institutions looking to outsource SBA loan operations. He dives into the intricate balance of compliance, relationship building, and patience required to thrive in this niche industry.
Key Highlights:
-
Starting an LSP: Learn the essential steps to establish yourself as a trusted SBA lender service provider, including the necessary regulatory steps with OCRM.
-
Sales Strategies for LSPs: Mike explains the long sales cycle when working with banks and credit unions and how patience was the key during the process.
-
Navigating SBA Oversight: Discover the role of OCRM in reviewing lender service provider agreements and maintaining oversight in the SBA ecosystem.
-
Tech & Innovation in SBA Lending: Explore how emerging technology and data analytics are reshaping the SBA lending landscape.
Whether you're an aspiring LSP entrepreneur or a seasoned professional curious about industry trends, this episode is packed with valuable insights on the current state of SBA lending.
Don’t miss out on our exclusive NAGGL interview series—subscribe now to catch every episode!
This episode is sponsored by:
Lumos Data
Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance.
If you're ready to take your small business lending to the next level with cutting edge analytics visit lumosdata.com.
Rapid Business Plans
Rapid Business Plans is the go-to provider of business plans and feasibility studies for government guaranteed small business lenders.
For more information, or to set up a Get Acquainted call go to http://www.rapidbusinessplans.com/art-of-sba
SBA Jobs Board
Hiring for your SBA department? We’ve got you covered! SBA Jobs Board is here to bridge the gap between you and top SBA talent. Our Art of SBA Lending audience is packed with experts ready for their next career move. List your openings with us to connect with the best in the industry and find the right fit for your team. Live now on our new Art of SBA Website | https://www.artofsba.com/job-board
BDO’s…let’s start your weeks strong! Sign up for our weekly sales advice series, Sales Ammo. Every Monday morning wake up to a piece of Rays sales advice in your inbox to help you rise to the top. Subscribe here: https://www.artofsba.com/army-of-bdos
Loving The Art of SBA Lending episodes? Make sure to follow along with our sister shows, The BDO Show and SBA Today, each week with the links below!
https://www.youtube.com/@TheBDOShow
http://www.youtube.com/@SBAToday
Head to http://www.artofsba.com for more information and to sign up for our must-read monthly newsletter to stay up to date with The Art of SBA Lending.