To ensure our clients avoid the many pitfalls of SBA loan servicing, our team of experts handles all aspects of SBA lending. Our guaranteed servicing solutions make the process simple and hassle-free so you can fully direct your focus on empowering small businesses with financial support.
We’re specialists at 1502 reporting that is compliant with SBA regulations and Colson Services Corp. We handle all communication with Colson Services related to payment reporting and reconciliations. We keep our clients informed and provide customized reports upon request. All of our clients’ reporting is stored on a secure server and sent via secure email when needed.
Our servicing team tackles all the intensive aspects of SBA loans after closing, including loan modifications, restructures, increases, deferments, forbearances, rate changes, and re-amortization of payments to collateral and guaranty releases. We monitor UCC-1 expirations and ensure continuations are filed if applicable. Our experts keep a record of real estate, business personal property, and other types of insurance as needed. On your behalf, we also request and monitor the receipt of annual financial information from borrowers and guarantors in order to comply with SBA’s guidelines.
Our team ensures proper payment collection and handles demand requests on your behalf, including billing, processing, revolving and non-revolving lines of credit, advances pay-downs, pay-offs, payment applications, reconciliation of loan balances and detailed reports with payment allocation.
In the unfortunate event that the borrower defaults, our team of experts will provide consulting on best practices for liquidation, assist with making a demand on the guaranty and preparation of the guaranty request package (10 TAB), including the charge-off and wrap-up reports.