SBA Lending Process: The Prudent Lenders Fast Track Assessment

As a financial institution, you want to expand your revenue streams by offering U.S. Small Business Administration (SBA)-backed loans to your clients, but the significant overhead of establishing an in- house team is a strain on your resources. Prudent Lenders understands this challenge. We provide superior service by giving you access to our unmatched SBA lending expertise. We also deliver exclusive tools, customized services and valuable resources. The result? We significantly reduce the time and resource commitments that building an SBA portfolio typically entails.

Case in point: Our Fast Track Assessment. It’s a tool we designed to determine your borrowers’ SBA eligibility before taking them through a full application process. This allows you to optimize your time and focus on small business loans with higher likelihoods of approval.

What is the Prudent Lenders FTA?

The FTA request is a simple form you and your potential borrower complete together. Within 48 hours of submitting the completed request to Prudent Lenders, you’ll have data-driven and expert information necessary to determine whether to move forward with underwriting. This reduces time spent on ineligible applications.

How the Prudent Lenders FTA works

Our FTA request forms ask prospective borrowers to provide basic personal and business information. You, the lender, should also outline the loan structure with its proposed terms and conditions. After the FTA request form has been completed, submit it to Prudent Lenders. Within 48 hours of submission, we’ll review the loan package against SBA criteria for:

• Eligibility: Our SBA lending experience enables us to efficiently identify any issues that may disqualify businesses or borrowers from eligibility. If potential borrowers face issues that can be addressed and overcome, we present solutions and advisement.
• Creditworthiness: With the FTA, Prudent Lenders paints a full picture on borrower eligibility by merging essential information, including credit scores, current debt and available collateral. Using this information, you can determine whether the borrower meets your institutional criteria and risk appetite.
• Loan structure: We review the proposed loan terms and conditions against SBA requirements. If feasible and appropriate, we also recommend adjustments that may increase the likelihood borrowers will successfully repay their financial obligations.

With the FTA as your guide, you’ll have the information you need to respond to clients quickly and effectively. Most importantly, you’ll be able to confidently determine when—and with whom—to move forward with a full application.

Let’s work together

Prudent Lenders enables you to support small business clients who may not qualify for traditional financing, while significantly reducing the time and resources you spend managing your SBA portfolio. Try a complimentary FTA and see firsthand how efficiently our process works. Contact us today to get started!