Hi Michael! Thanks for joining us to talk about what you do at Climate First Bank! Give us a peak into a day in the life of an SBA Lender…  

Behind the scenes of small business financing, there is a dedicated team working tirelessly to help entrepreneurs achieve their dreams. Among these professionals are SBA lenders who play a crucial role in facilitating loans through the Small Business Administration (SBA) programs.

Morning: Preparation and Relationship Building

A typical day for me begins with preparations and relationship-building activities. This involves anything from reviewing loan applications, analyzing financial documents, and conducting due diligence on potential borrowers. Building strong relationships with small business owners is paramount, as it allows me to understand their unique needs, aspirations, and financial circumstances.

Throughout the morning, I’ll engage in consultations with entrepreneurs, discussing their business plans, financial goals, and eligibility for SBA loan programs. These meetings require active listening, empathy, and the ability to provide guidance on the most suitable financing options available.

Afternoon: Application Processing and Analysis

The afternoon is often dedicated to processing loan applications and performing in-depth financial analysis. I’m meticulous about reviewing business plans, financial statements, credit histories, and collateral details. I’ll assess the feasibility of the proposed projects, analyzing risks and mitigating factors to ensure responsible lending practices.

I collaborate really closely with the underwriting team, sharing insights and knowledge to make informed decisions. Collectively, we’ll evaluate various aspects, such as cash flow projections, debt-to-income ratios, and the borrower's capacity to repay the loan. I’ll also assess the impact of the loan on the local community, job creation potential, and economic development.

Challenges and Problem-Solving

Being an SBA lender comes with its fair share of challenges! Navigating complex regulations, adapting to changing lending guidelines, and managing tight timelines require adaptability and attention to detail. I stay updated with the latest SBA program changes, policy updates, and industry trends to provide the best service to our clients.

I’ll often encounter unique situations and unforeseen obstacles, so collaboration with borrowers, underwriters, and other stakeholders is really important. Together, we find creative solutions to complex financing scenarios.  

Closing Deals and Celebrating Success

This is the fun bit! After meticulous analysis, negotiation, and due diligence, I work diligently to finalize loan agreements, ensuring that all legal and regulatory requirements are met. I’ll guide borrowers through the closing process, explaining terms, conditions, and repayment schedules.

Witnessing small businesses thrive, expand, and make a positive impact on their communities is immensely rewarding – it’s the best part of my job. I take a lot of pride in seeing my borrowers' dreams become a reality, knowing that mine and my teams’ efforts contribute to local economic growth and job creation.

Thanks, Michael! How can someone reach out to you to learn more?  

It’s simple, you can email michael.madison@climatefirstbank.com or call me at 813.846.2773. Visit our website too, there’s lots of info on there.  

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