Feedback Form
Home Features Mastermind Videos About Advertise Blog Network Contact
   

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

Featured Ebook


ebook Famous Entrepreneurs - Modern Empire Builders


Featured Ebook

More Evan Carmichael
Have A Suggestion?

Sales Lessons From Starbucks And Dell

Certified Lender Programs



Certified Lender Programs
   

The Certified Lenders Program (CLP) is designed to provide expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders are expected to perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA reviews the lender's credit analysis rather than conducts a second analysis. SBA still makes the final credit and eligibility decision but, by completing a credit review instead of an independently conducting analysis, SBA strives for 3-day (working days) turn around in arriving at its decision.

The key aspect of CLP is the greater utilization of the credit knowledge of the lender's loan officers to shorten SBA's loan processing time. SBA still makes an independent determination as to whether the applicant can repay the loan from the profits of the business, but under CLP, the lenders work is reviewed rather than completely double checked.

How to become a CLP Lender

To become a Certified Lender, an SBA field office may nominate a Lender. A Lender may also request a field office to consider it for CLP status. SBA district directors may approve and renew a Lender's CLP status. The district director will consider whether the Lender:

* Has the ability to process, close, service and liquidate loans;
* Has a satisfactory performance history with SBA, including the submission of complete and accurate loan guarantee application packages;
* Has an acceptable SBA purchase rate; and
* Has shown the ability to work well with the local SBA office.


If the district director does not approve a request for CLP status, the Lender may appeal to the Associate Administrator of Financial Assistance, whose decision will be final. If SBA grants CLP status, it applies only in the field office that processed the CLP designation. A CLP Lender must execute a Supplemental Guarantee Agreement that will specify a term not to exceed two years.

Certified Lender Programs - To learn more about this author, visit Start Your Business's Website.

Like this article? Share it with your friends
[Get Copyright Permissions] E-Mail | Print | More  


Related Articles Related Articles
Certified Lender Programs
  The Certified Lenders Program (CLP) is designed to provide expeditious service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies a...
SBA Loans FAQs
  How do I know if I qualify as a small business so that I can receive SBA assistance?
Preferred Lender Programs
  The Preferred Lenders Program (PLP) is another step in SBA's process of "streamlining" the procedures necessary to provide financial assistance to the small business community. Under PLP, SBA delegates loan appro...
SBA\'s 7(a) Loan Program
  7(a) loans are the most basic and most used type loan of SBA's business loan programs. Its name comes from section 7(a) of the Small Business Act, which authorizes the Agency to provide business loans to American s...
How to get your Bank Manager to sanction your loan application
  Financial skills are one of the most important skills to master in business. You will need financing at some stage in your business; beginning, expansion, or for equipment purchases. Understanding what a lender will...

Related Forum Posts Related Forum Posts
What Businesses to Bail Out? What Businesses to Bail Out?
Any experience with McManus UK Ltd.? Any experience with McManus UK Ltd.?
PDA Security Tips PDA Security Tips
Re: Anyone good with CPA affiliate here? Re: Anyone good with CPA affiliate here?
Re: Affiliate programs Re: Affiliate programs
timeframe for loan process timeframe for loan process
Re: You don't need to go to a "real" school to get Re: You don't need to go to a "real" school to get
Greetings From Destiny's Door Greetings From Destiny's Door

Related Forum Posts Related Businesses - Evan Elite Authors

The Evan Elite Authors program is currently in beta phase. For details please contact us.


 
About the Author


Start Your Business
(Visit Start Your's Website)
Starting a business requires you to complete a number of steps and make some key decisions. Though part of your overall plan, you’ll need to select a location, decide on a business structure, and obtain the necessary licenses and permits. In addition, determining which financing options will meet your short-term needs and long-term goals is crucial. Within this section, we’ll provide information on these topics along with guidance on buying an existing business, copyright and trademark issues, and getting support from an outside expert.
Have A Suggestion?

View Author's Blog
Mastermind Group Resources
Mastermind Group Resources - Strategies to get the most from your Mastermind Group. The purpose of this blog is to share resources, tips, strategies, and ideas on how to build a Mastermind Group and make it more effective.
Selling to Small Business
Selling to Small Business - Strategies to help you sell to small business entrepreneurs. The purpose of this blog is to outline strategies companies can take to effectively target small business owners.
Become An Author

View Author's Video
Become An Author

Free Downloads


Start Your Business's

Complete
List Of
SBA
Articles

First Name
Last Name
Email
 
If you enjoyed this article, get Start Your Business's Complete List of SBA Articles For FREE!

More Start Your Business
Sales Agreement
Finance StartUp
Basic Structures
Finding Capital
Personal vs Business Finances
StartUp Costs
Protecting Your Ideas
Export Express
Microloans
Loan Proposals
Become An Author