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 deals done and how it's poised to be the next big thing for lenders who have built a strong personal brand. We also dive into the current challenges facing the industry, including the controversial new policies on preferred equity and seller guarantees.

🎯 In this episode:

➡️ The surprising data on business acquisition loan default rates.

➡️ Why a low rate on a real estate loan can be a "hamster wheel" for lenders.

➡️ The key difference between a BDO who is a "vendor" and one who is a "value add".

➡️ Why borrowers are now challenging lenders on their interpretation of the SOP.

➡️ The biggest policy change Heather would make to the SBA today.

💬 What's your take? Should a seller be required to personally guarantee a loan on a partial change of ownership? Join the debate in the comments!

The BDO Retreat is back for its fifth and final year, and this time, we’re taking you to Key Largo, Florida, on January 16th and 17th.

Join us for a weekend of BDO workshops, exclusive networking, and, as always, a few surprises: https://www.artofsba.com/bdo-retreat

🎙This episode is sponsored by:

CORPSMART

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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 https://rapidbusinessplans.com/art-of-sba. Find out why so many top-producing BDOs recommend Rapid to their small business borrowers.

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