Presentation on theme: "1 Superior Financial Group SBA Community Express Loan Program and Online Training."— Presentation transcript:
1 Superior Financial Group SBA Community Express Loan Program and Online Training
2 Table of Contents SFG SBA Community Express Loan Program Overview SFG Online Application Process SFG Real Time reporting System How to get started
3 Why Choose SFG? Online Instant Pre-Qualification SBA CE loans from 5k to 25k Real-Time reporting of clients funding status Since 2002 funded over 9000 SBA community express loans between Innovative bank and SFG Safe and Secure internet security protocol Receive $100 per funded loan
4 Who is Superior Financial Group (SFG)? SFG is one of 13 non-Bank licensed SBA Lender SBLC (small business lending company) Headquartered in Walnut Creek, California Company started in December 2005 Combined over 35 years of lending experience to Small Office Home Office businesses.
5 Background Tim Jochner and Joe Kaplan have started 3 businesses together all catering to Small businesses. Sold Innovative Merchant Solutions in Oct 2003 to Intuit, Inc INTU the makers of QuickBooks and sold Innovative Bank to a private group in Jun 05 respectfully Bought the Bank of Oakland in 2001 and renamed it Innovative Bank Started the Innovative Bank SOHO SBA Community Express loan program in 2002 Became a top five SBA lender in the first 12 months, and funded over 8000 loans Responsible for 90% of the SBA increase in number of loans during the 02, 03 and 04 fiscal years.
6 Business Practice Awards Arthur Anderson Award - Best Business Practice in Customer Satisfaction 1998 Ernst & Young Award - Entrepreneurs of the Year U.S. Chamber of Commerce Award - Blue Chip Enterprise U.S. Association for Small Business & Entrepreneurships - "Corporate Entrepreneur's of the Year" Entrepreneur Magazine - Ranking of #6 of the Hot 100 U.S. Businesses
7 What is SBA Community Express (CE) It falls under the SBA 7 (a) program like SBA Express Technical Assistance by an approved technical assistance provider is required The lender is allowed to use there own paper- work and credit decision process. Has an 85% government guarantee
8 SBA Community Express Eligibility Requirements Must not be a convicted felon Must not have defaulted on government backed student loans Must not have defaulted on child support payments Must not have any IRS judgments or tax liens Cannot have over 100,000 cash or equivalents
9 SBA Community Express Program Online Pre-Qualification application Pre-Qualification in seconds No Collateral Required Affordable Monthly Principal and Interest Payments No Balloon Payments No Prepayment Penalty Quick Source For Unsecured Working Capital
10 Superior Financial Groups Community Express Loan Program Loan amounts from $5,000 - $25,000 Interest rate of WSJ Prime Rate + 4.5% Start up businesses are OK Most legal, for profit businesses eligible Most franchises eligible Establishes credit for your business Electronic funding into your business checking account – no waiting for a check! Electronic loan payments from your checking account – no check writing or mailing!
11 Estimated Monthly Payments SMALL OFFICE/HOME OFFICE - Lower amounts best suited for smaller or newer businesses needing working capital. This program has less stringent personal credit requirements of the owners. Loan AmountApprx. Monthly PaymentPackaging/ Processing Fee SBA Guaranty FeeInterest Rate $5,000$74$450Paid By SFGWSJ Prime +4.5% $7,500$110$450$127.50WSJ Prime +4.5% $10,000$147$450$170.00WSJ Prime +4.5% $12,500$183$450$212.50WSJ Prime +4.5% GROWTH ACCELERATOR ASSISTANCE PROGRAM - Larger amounts for more established businesses seeking a quick source for working capital. Due to the larger amounts this program has stricter credit requirements. $15,000$220$550$255.00WSJ Prime +4.5% $20,000$292$550$340.00WSJ Prime +4.5% $25,000$365$550$425.00WSJ Prime +4.5%
12 SFG Pre-Qual application Go to On the Top Button Row of the Web-Site select Pre-Qual now Must Have a User Name and Password to use the system Online Tutorial is available on the SFG Pre- Qual Screen
13 Select Pre-Qual now to get started
14 Click to see video tutorial Enter your assigned user name and password to get started
15 Enter the clients first and last name here to then click I authorize
16 This is the SBA 1919 form any yes questions is an automatic SBA disqualifier
17 Make sure you select your TA office using the down arrow Enter products sold then click on find Industry codes button. This will automatically find the clients industry code. Enter business information
18 Enter Personal Information of the borrower Own or rent their home
19 Click on the loan PDF link to download the paperwork Complete and have the client sign the original paperwork due to SBA rules we still require wet signatures and mail to this address Pre-Quals are only good for 14 days so complete and mail the paperwork ASAP
20 Superior Financial Groups Online Real- Time Reporting System Go to Review your Clients Status in Real-Time Detailed Reports on Client Status Know when clients have been funded Saves you Time and Money
21 To see your reports type in Use your assigned user name and password
22 The first screen is your general overview Select Loan Apps to get a more detailed reports
23 Click on the Report icon to see action items and client status
24 Status information is where you will find any ACTION items needed to fund your clients loan, its very important to review this section!
25 How to get Started Complete and sign a TA agreement with SFG Submit your SBA TA approval letter with your SFG TA agreement You will receive a user name and password which will allow you to access the Online reporting system and the pre-quail application You will also receive a demo link on how to use the Pre- Qual application Donations are $100 per funded account and are paid monthly
26 Community Express Loan Technical Assistance Provider Plan
27 Table of Contents Community Express Loan Technical Assistance Provider Plan: Borrowers Process………….3 Borrower Completes Technical Assistance Registration…………………4 Technical Assistance Needs Assessment Mockup………………………...5 Technical Assistance Needs Assessment Report and Associated Online Workshop Content Prioritized by Needs……………………..6 Online Workshop: Course Features…………………………………………..7 Online Workshop: Sample Completion Certificate…………………………8 Community Express Loan Technical Assistance Tracker: Home Page, Counselor View……………………………………………..9 Community Express Loan Technical Assistance Provider Plan: Borrowers Process with Technical Assistance Tracker: Counselor View……………………………………………………………10
28 Community Express Loan Technical Assistance Provider Plan: Borrowers Process 28 Applicant is approved by Superior Financial Group for Community Express Loan Complete Technical Assistance Needs Assessment 5a5a OR Review Technical Assistance Needs Assessment Report Choose type of technical assistance 5b5b Work with Certified Counselor Take Online Workshop 67 Complete Action Plan Receive Completion Certificate 2 Complete Online Registration
29 Borrower Completes Technical Assistance Registration The purpose of registration is to: Collect company and industry demographic information Collect contact information Set up login and password Borrowers Assessment and Recommendations are customized to their Business Type.
31 Technical Assistance Needs Assessment Report and Associated Online Workshop Content Prioritized by Needs Technical Assistance Needs Report: Borrower is directed to take Online Workshop, starting with content related to greatest needs areas – in this case, Financial Management content. 31 Displays an overview of borrowers scores for each category Indicates areas of greatest technical need
32 Online Workshop: Course Features Each Chapter Includes: Multimedia presentation illustrating key chapter concepts Table of Contents providing access to: All course chapters Business Assessment Center Course Completion Certificate Business Assessment Videos of well-known entrepreneurs discussing chapter topic Worksheets provided to facilitate implementation of course concepts Course takes several hours to complete
34 Community Express Loan Technical Assistance Tracker: Home Page, Counselor View Create, edit, and track Action Plan and counseling session notes Track Clients progress in Online Workshop One-click access to: Clients completed worksheets Clients Technical Assistance Needs Report Clients Business Assessment Results from Online Workshop Ability to set reminders and follow up when due dates are passed
35 Community Express Loan Technical Assistance Provider Plan: Borrowers Process with Technical Assistance Tracker: Counselor View 5a5a OR Choose type of technical assistance 5b5b Work with Certified Counselor Take Online Workshop 67 Complete Action Plan Receive Completion Certificate 5b5b 67 Technical Assistance Tracker: Counselor View Tracks, audits, and reports on borrowers activities at key points in the Technical Assistance process 4 Applicant is approved by Superior Financial Group for Community Express Loan Complete Technical Assistance Needs Assessment Review Technical Assistance Needs Assessment Report 2 Complete Online Registration
36 Contact Information Superior Financial Group 165 Lennon Lane Ste 101 Walnut Creek, Ca toll free phone fax