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Your Partner Newsletter from SmartBiz

Welcome to BizBuzz!

Happy holidays from the SmartBiz Partner Team! Thanksgiving is over and we’re back to working hard for your clients. In this edition, we’re giving details of a fast SBA loan funding, introducing you to a new team member, and sharing happy customer comments.

SBA loan funded in 2 weeks!

2020 is approaching fast but it’s not too late to get your clients funded before the end of the year. Check out the timeline of this SBA loan brought to SmartBiz through the Partner channel:

PREQUALIFIED 11/12/2019 — FUNDED 11/26/2019 

Industry: Direct seller
Loan Amount: $150,000
DSCR: 3.42
FICO Range: 670+
Revenue: $500k+
Time in Business: 2+ Years
Use of Proceeds: Debt refinance to save the business over $18,000 a month, inventory, hiring, marketing

Gregory Keleshian is the CEO of SmartBiz partner Crestmont Capital located in Irvine, California. The Financial Product Specialists who make up Crestmont Capital’s lending divisions have helped find funding for tens of thousands of small businesses across hundreds of industries. Keleshian manages overall operations and is responsible for leading the development of the company’s short-and long-term growth strategy. 

Keleshian isn’t new to the small business world. “I have had an entrepreneurial spirit since I was a child,” he says. “I wanted to get into a business where I would be able to help small business owners grow their business.” Crestmont Capital primarily serves businesses with gross annual sales between $1mm to $10mm. Their clients who are a good fit for a SmartBiz loans product are generally looking for longer-term business loans. “They have long-term use for the capital as well,” he says. He reports that his interaction with the SmartBiz partner team has been extremely professional. “They treat our clients with respect,” he says. “Everything has been fantastic; we couldn’t ask for a better platform to send our clients to.”

Successfully funded deals

Here’s a snapshot of businesses we’ve worked with across the U.S. 

Industry: Nursery and Tree Production 
Loan Amount: $350,000
DSCR: 1.43
FICO Range: 740+
Annual Revenue: $1.6 million
Time in Business: 8+ Years
Use of Proceeds: Facility improvements, supplies, hiring 

Industry: Women's Clothing Store
Loan Amount: $100,000
DSCR: 1.67
FICO Range: 650+
Annual Revenue: $460k+
Time in Business: 8+ Years
Use of Proceeds: Debt refinance saving the business $9k/month, inventory purchase, marketing 

Industry: Toy and Hobby Goods and Supplies 
Loan Amount: $300,000
Business DSCR: 3.81
FICO Range: 690+
Annual Revenue: $560k+
Time in Business: 11+ Years
Use of Proceeds: Debt refinance, hiring, supplies and materials, marketing  

Visit the SmartBiz Loans TrustPilot profile to read how our team members are successfully helping business owners through the application process. When you refer a client to SmartBiz, you can be assured they will receive 5-star service.
 

“Outstanding Process”
“Excellent service”
“Great Products, Service and People”
“Smartbiz made the seemingly daunting SBA process easy!!!”
 

NEXT WEEK
We’re sharing ideas for holiday gift ideas your employees and clients will love. Keep an eye on your inbox!
 

Your Partner Newsletter from SmartBiz

Welcome to BizBuzz!

Happy holidays from the SmartBiz Partner Team! Thanksgiving is over and we’re back to working hard for your clients. In this edition, we’re giving details of a fast SBA loan funding, introducing you to a new team member, and sharing happy customer comments.

SBA loan funded in 2 weeks!

2020 is approaching fast but it’s not too late to get your clients funded before the end of the year. Check out the timeline of this SBA loan brought to SmartBiz through the Partner channel:

PREQUALIFIED 11/12/2019 — FUNDED 11/26/2019 

Industry: Direct seller
Loan Amount: $150,000
DSCR: 3.42
FICO Range: 670+
Revenue: $500k+
Time in Business: 2+ Years
Use of Proceeds: Debt refinance to save the business over $18,000 a month, inventory, hiring, marketing

Gregory Keleshian is the CEO of SmartBiz partner Crestmont Capital located in Irvine, California. The Financial Product Specialists who make up Crestmont Capital’s lending divisions have helped find funding for tens of thousands of small businesses across hundreds of industries. Keleshian manages overall operations and is responsible for leading the development of the company’s short-and long-term growth strategy. 

Keleshian isn’t new to the small business world. “I have had an entrepreneurial spirit since I was a child,” he says. “I wanted to get into a business where I would be able to help small business owners grow their business.” Crestmont Capital primarily serves businesses with gross annual sales between $1mm to $10mm. Their clients who are a good fit for a SmartBiz loans product are generally looking for longer-term business loans. “They have long-term use for the capital as well,” he says. He reports that his interaction with the SmartBiz partner team has been extremely professional. “They treat our clients with respect,” he says. “Everything has been fantastic; we couldn’t ask for a better platform to send our clients to.”

Successfully funded deals

Here’s a snapshot of businesses we’ve worked with across the U.S. 

Industry: Nursery and Tree Production 
Loan Amount: $350,000
DSCR: 1.43
FICO Range: 740+
Annual Revenue: $1.6 million
Time in Business: 8+ Years
Use of Proceeds: Facility improvements, supplies, hiring 

Industry: Women's Clothing Store
Loan Amount: $100,000
DSCR: 1.67
FICO Range: 650+
Annual Revenue: $460k+
Time in Business: 8+ Years
Use of Proceeds: Debt refinance saving the business $9k/month, inventory purchase, marketing 

Industry: Toy and Hobby Goods and Supplies 
Loan Amount: $300,000
Business DSCR: 3.81
FICO Range: 690+
Annual Revenue: $560k+
Time in Business: 11+ Years
Use of Proceeds: Debt refinance, hiring, supplies and materials, marketing  

Visit the SmartBiz Loans TrustPilot profile to read how our team members are successfully helping business owners through the application process. When you refer a client to SmartBiz, you can be assured they will receive 5-star service.
 

“Outstanding Process”
“Excellent service”
“Great Products, Service and People”
“Smartbiz made the seemingly daunting SBA process easy!!!”
 

NEXT WEEK
We’re sharing ideas for holiday gift ideas your employees and clients will love. Keep an eye on your inbox!
 

• Improved clarity—Transparency is important to us. Our policy has been updated to be more easily understandable and describe our data processing practices in more detail.
• CCPA—The upcoming California Consumer Privacy Act (CCPA) places new obligations on organizations that collect personal information of California consumers. As a result, we’re updating our Privacy Policy to include a description of additional rights granted by CCPA and provide California consumers with required disclosures about the collection of personal information. 

Happy 2020 from the SmartBiz partner team! 

Have you checked in with your small business clients yet? Now is a great time. If your clients want to grow or save money in the new year, a working capital loan can be an excellent financial fit. 

Funds from a working capital SBA loan or working capital Bank Term loan from banks in the SmartBiz network can be used in a variety of ways, including debt refinance. 

Our easy-to-use checklist includes general eligibility guidelines along with credit and cash flow requirements.

Banks in the SmartBiz network offer working capital loans from $30K- $350K. Funds can be available as soon as 7 days after the online application is completed.  

Our checklist has information to gather, items to watch out for, and tips to help you vet your client.

Next week, we’ll share BizBuzz, our monthly newsletter written exclusively for SmartBiz partners. You’ll learn more information and tips to help you get your clients the funds they need to succeed.

Your Partner Newsletter from SmartBiz

Welcome to BizBuzz!

Happy 2020 from the SmartBiz partner team! A new decade has begun and we're back to working hard for your clients. In this edition, we're sharing tax issues that can affect an application, details of recently funded loans, and introducing you to a partner team member.

Tax time is approaching...are your clients ready?

Fourteen percent of small business owners surveyed by the National Federation of Independent Business reported that taxes were the single most important problem they faced, with many others placing it in their top three. 

If you have clients in need of an SBA loan or other type of funding this year, there are tax requirements to meet when applying. Learn what to expect so your clients are prepared for the process. 

Recent data compiled by SCORE shows that 67% of small business owners anticipate an economic downturn or recession in the next 12 months with many feeling only somewhat prepared.

We'd like to hear how your clients feel as they head into 2020. Please answer one short question and we'll share results in an upcoming newsletter.

SCORE CEO Bridget Weston suggests, "With data showing that most small business owners anticipate an economic downturn or recession in the next 12 months, business owners should apply for financing while their numbers are strong."

As 75% of small business owners rated their company's cash flow as "good" or "very good" in 2019, now is a great time to reach out and discuss funding with your clients.
 

Here are recently funded loans brought to SmartBiz through our partner channel: 

Meet Account Manager Eliza!

Eliza is an Account Manager and part of the partner team working out of the SmartBiz Loans Austin office. She graduated from Texas A&M University in 2016 with a marketing degree and has been with SmartBiz since 2018. We caught up with Eliza to learn more about her work with partners.

What are your responsibilities as a member of the partner team? I work closely with partners to make sure their needs are met and that they are having valuable experience with SmartBiz.

What do you like about working with partners? I like that the partners are straightforward and direct. We're all working towards the same goal and it's nice to help make an impact on those loans they are bringing to SmartBiz.

In your opinion, what makes an ideal SmartBiz partner? The best partners are genuinely in it to help out small businesses and take the time to get to know their individual clients and needs. Being financially savvy is key.

What do you enjoy outside of the office? Lately, I've been into digital painting and I'm teaching myself animation and coding. I love learning new things.

Rave reviews!

Your clients are in good hands when working with SmartBiz. Our goal is to offer each business owner the highest level of customer service. Here’s what one happy SmartBiz customer had to say about our service:

The Customer Service I received was absolutely second to none!! Just last year I went through the SBA process and boy it was a process. I ended up declining the approved offer last year because it was such a hassle. Fast forward to this year!! Not only was I approved, the process was seamless and the funds came in just as promised. I would highly recommend Smartbiz as a resource for SBA funding for any business in need. Thank you again for the service, if needed I will be a repeat customer.

February 4, 2020

Our partner team would like to correct information sent earlier today regarding life insurance requirements to qualify for an SBA loan from banks in the SmartBiz network. 

Correction: Lenders in the SmartBiz network do not require the business owner to have life insurance coverage in order to approve SBA loans for $350,000 and less. 

Note: This may not be the case for lenders who are not in the SmartBiz network. 

It is possible that a lender in the SmartBiz network would require life insurance for an application, but this is not standard.

If you have any questions regarding specific application details, please reach out to your dedicated Partner Manager. 

Do you want to streamline the SmartBiz Loans SBA loan application process even more? We strongly suggest using our Partner Predict Cash Flow Tool to let you know the likelihood of an SBA loan approval for your client. 

Simply drag and drop your client’s most recently filed tax return or complete this step manually. In a few seconds, you’ll know the likelihood of moving forward and will be able to submit an application as usual.

Once your client is identified as a fit for an SBA loan, a Relationship Manager will be assigned to the application to conduct a complete cash flow analysis.

You can use this tool multiple times for the same client. We have the details you need to know in the SmartBiz Strategic Partner Guide. 

Stay tuned for information about term loans now offered by banks in the SmartBiz network. We’re thrilled to offer this option to your clients to help fund their 2020 goals. 

February 4, 2020

Our partner team would like to correct information sent earlier today regarding life insurance requirements to qualify for an SBA loan from banks in the SmartBiz network. 

Correction: Lenders in the SmartBiz network do not require the business owner to have life insurance coverage in order to approve SBA loans for $350,000 and less. 

Note: This may not be the case for lenders who are not in the SmartBiz network. 

It is possible that a lender in the SmartBiz network would require life insurance for an application, but this is not standard.

If you have any questions regarding specific application details, please reach out to your dedicated Partner Manager. 

Happy 2020 from the SmartBiz partner team! 

Have you checked in with your small business clients yet? Now is a great time. If your clients want to grow or save money in the new year, a working capital loan can be an excellent financial fit. 

Funds from a working capital SBA loan or working capital Bank Term loan from banks in the SmartBiz network can be used in a variety of ways, including debt refinance. 

Our easy-to-use checklist includes general eligibility guidelines along with credit and cash flow requirements.

Banks in the SmartBiz network offer working capital loans from $30K- $350K. Funds can be available as soon as 7 days after the online application is completed.  

Our checklist has information to gather, items to watch out for, and tips to help you vet your client.

Next week, we’ll share BizBuzz, our monthly newsletter written exclusively for SmartBiz partners. You’ll learn more information and tips to help you get your clients the funds they need to succeed.

January 28, 2020
 

At SmartBiz Loans, we continuously look for ways to support your client's business growth in 2020. One way we do that is by offering term loans as well as SBA loans.

For a business owner who wants a fixed interest rate or needs fast funding, a Bank Term loan can be a great fit. If you’ve had an SBA loan funded for a client, you know the SmartBiz partner dashboard and support from our team makes applying easy. 

We now offer the same streamlined process for term loans through banks in the SmartBiz network. Just one application is needed.
 

Your clients can use Bank Term loans proceeds for working capital, debt refinance, and new equipment purchases. Details include:

• $30,000 to $200,000 loan amounts

• 2 – 5 year repayment terms

• Fixed interest rate from 6.99% to 26.99%*

• Monthly repayments

• No pre-payment penalties

*The interest rate for Bank Term loans from banks in the SmartBiz network depend on loan term and the applicant's credit and financial profile.

Learn why Brad Hunter, CEO of iWALKFree, chose a bank term loan to expand his unique business: 

Next week, we’ll share information about internal and external Regulatory Compliance issues. Business owners need to know about federal tax filing  compliance in addition to filing reports and annual statements.  

Your Partner Newsletter from SmartBiz

Welcome to BizBuzz!

Happy 2020 from the SmartBiz partner team! A new decade has begun and we're back to working hard for your clients. In this edition, we're sharing tax issues that can affect an application, details of recently funded loans, and introducing you to a partner team member.

Tax time is approaching...are your clients ready?

Fourteen percent of small business owners surveyed by the National Federation of Independent Business reported that taxes were the single most important problem they faced, with many others placing it in their top three. 

If you have clients in need of an SBA loan or other type of funding this year, there are tax requirements to meet when applying. Learn what to expect so your clients are prepared for the process. 

Recent data compiled by SCORE shows that 67% of small business owners anticipate an economic downturn or recession in the next 12 months with many feeling only somewhat prepared.

We'd like to hear how your clients feel as they head into 2020. Please answer one short question and we'll share results in an upcoming newsletter.

SCORE CEO Bridget Weston suggests, "With data showing that most small business owners anticipate an economic downturn or recession in the next 12 months, business owners should apply for financing while their numbers are strong."

As 75% of small business owners rated their company's cash flow as "good" or "very good" in 2019, now is a great time to reach out and discuss funding with your clients.
 

Here are recently funded loans brought to SmartBiz through our partner channel: 

Meet Account Manager Eliza!

Eliza is an Account Manager and part of the partner team working out of the SmartBiz Loans Austin office. She graduated from Texas A&M University in 2016 with a marketing degree and has been with SmartBiz since 2018. We caught up with Eliza to learn more about her work with partners.

What are your responsibilities as a member of the partner team? I work closely with partners to make sure their needs are met and that they are having valuable experience with SmartBiz.

What do you like about working with partners? I like that the partners are straightforward and direct. We're all working towards the same goal and it's nice to help make an impact on those loans they are bringing to SmartBiz.

In your opinion, what makes an ideal SmartBiz partner? The best partners are genuinely in it to help out small businesses and take the time to get to know their individual clients and needs. Being financially savvy is key.

What do you enjoy outside of the office? Lately, I've been into digital painting and I'm teaching myself animation and coding. I love learning new things.

Rave reviews!

Your clients are in good hands when working with SmartBiz. Our goal is to offer each business owner the highest level of customer service. Here’s what one happy SmartBiz customer had to say about our service:

The Customer Service I received was absolutely second to none!! Just last year I went through the SBA process and boy it was a process. I ended up declining the approved offer last year because it was such a hassle. Fast forward to this year!! Not only was I approved, the process was seamless and the funds came in just as promised. I would highly recommend Smartbiz as a resource for SBA funding for any business in need. Thank you again for the service, if needed I will be a repeat customer.

February 4, 2020
 

Did you know that when your clients apply for an SBA loan, and their business is “tied to an individual or individuals,” they must have a life insurance policy in place?

Review our article for information about life insurance coverage amounts, policy terms, and beneficiary requirements for SBA loan approval. 

The lender does not need to be listed as the sole life insurance beneficiary. But lenders do have to be the first in line to receive a payout - known as a life insurance collateral assignment. Our article goes over the coverage required by SBA lenders in the SmartBiz network of banks. 

Next week, keep an eye on your inbox for BizBuzz, our newsletter created just for partners. You’ll learn about SBA commercial real estate loans available through SmartBiz marketplace banks and recently funded deals. You’ll also meet a new team member ready to assist your clients through the application process. 

February 4, 2020

Our partner team would like to correct information sent earlier today regarding life insurance requirements to qualify for an SBA loan from banks in the SmartBiz network. 

Correction: Lenders in the SmartBiz network do not require the business owner to have life insurance coverage in order to approve SBA loans for $350,000 and less. 

Note: This may not be the case for lenders who are not in the SmartBiz network. 

It is possible that a lender in the SmartBiz network would require life insurance for an application, but this is not standard.

If you have any questions regarding specific application details, please reach out to your dedicated Partner Manager. 

Happy 2020 from the SmartBiz partner team! 

Have you checked in with your small business clients yet? Now is a great time. If your clients want to grow or save money in the new year, a working capital loan can be an excellent financial fit. 

Funds from a working capital SBA loan or working capital Bank Term loan from banks in the SmartBiz network can be used in a variety of ways, including debt refinance. 

Our easy-to-use checklist includes general eligibility guidelines along with credit and cash flow requirements.

Banks in the SmartBiz network offer working capital loans from $30K- $350K. Funds can be available as soon as 7 days after the online application is completed.  

Our checklist has information to gather, items to watch out for, and tips to help you vet your client.

Next week, we’ll share BizBuzz, our monthly newsletter written exclusively for SmartBiz partners. You’ll learn more information and tips to help you get your clients the funds they need to succeed.

Do you want to streamline the SmartBiz Loans SBA loan application process even more? We strongly suggest using our Partner Predict Cash Flow Tool to let you know the likelihood of an SBA loan approval for your client. 

Simply drag and drop your client’s most recently filed tax return or complete this step manually. In a few seconds, you’ll know the likelihood of moving forward and will be able to submit an application as usual.

Once your client is identified as a fit for an SBA loan, a Relationship Manager will be assigned to the application to conduct a complete cash flow analysis.

You can use this tool multiple times for the same client. We have the details you need to know in the SmartBiz Strategic Partner Guide. 

Stay tuned for information about term loans now offered by banks in the SmartBiz network. We’re thrilled to offer this option to your clients to help fund their 2020 goals. 

January 28, 2020
 

At SmartBiz Loans, we continuously look for ways to support your client's business growth in 2020. One way we do that is by offering term loans as well as SBA loans.

For a business owner who wants a fixed interest rate or needs fast funding, a Bank Term loan can be a great fit. If you’ve had an SBA loan funded for a client, you know the SmartBiz partner dashboard and support from our team makes applying easy. 

We now offer the same streamlined process for term loans through banks in the SmartBiz network. Just one application is needed.
 

Your clients can use Bank Term loans proceeds for working capital, debt refinance, and new equipment purchases. Details include:

• $30,000 to $200,000 loan amounts

• 2 – 5 year repayment terms

• Fixed interest rate from 6.99% to 26.99%*

• Monthly repayments

• No pre-payment penalties

*The interest rate for Bank Term loans from banks in the SmartBiz network depend on loan term and the applicant's credit and financial profile.

Learn why Brad Hunter, CEO of iWALKFree, chose a bank term loan to expand his unique business: 

Next week, we’ll share information about internal and external Regulatory Compliance issues. Business owners need to know about federal tax filing  compliance in addition to filing reports and annual statements.  

Your Partner Newsletter from SmartBiz

Welcome to BizBuzz!

The SmartBiz team is here to help you get loans successfully funded for your clients. In this addition, we’re highlighting commercial real estate SBA loans, introducing you to a partner team member, and sharing details of recently funded loans.

Commercial Real Estate SBA Loans

The commercial real estate market has maintained value as well as liquidity opportunities. The SBA CRE loan programs from lenders in the SmartBiz network has had its biggest quarter in two years. The SmartBiz Loans team facilitated fundings in excess of $3MM in the fourth quarter of 2019. Funded deals were primarily in smaller, secondary market areas.

Examples of successfully funded commercial real estate SBA loans from banks in the SmartBiz network include:

• $1.2MM loan for an independent funeral home in Maryland.

• $400,000 loan for a manufacturing and warehouse facility in California. 

• $782,000 loan for a gas and convenience store acquisition in Delaware. 

Elisa earned a degree from San Francisco State and joined the SmartBiz team 2 years ago. She's a Referral Partnerships Specialist on a 3-member team working with both customers and partners.

What experience did you bring to SmartBiz?
My previous experience was with non-profits compliance and community engagement. I worked with both government agencies and the banking industry. It was a great foundation for my responsibilities with SmartBiz. 
 

How do you support SmartBiz partners?
I work with partners to learn their thoughts about volume and lead quality so we can help them succeed. My team is responsible for helping to make partnerships more efficient through new options and processes. I work with smart, creative people who are excellent at solving problems and overcoming obstacles.
 

What do you like about working with SmartBiz partners?
Our partners often have workable strategies that can work on our side as well. I like to hear how they engage with their customers and overcome obstacles.
 

What qualities do top partners have?
A good partner establishes a high level of transparency with their customers. SmartBiz tends to work with partners who have a good reputation and align with our mission of helping small business owners succeed.
 

How do you spend your free time?
I've been a dedicated rock climber for 6 years. I rock climb at the gym twice a week and outdoors every weekend. I climb with a group of women who all have different styles - it's inspiring. Every morning I walk on the beach with my dog.

Here are recently funded loans brought to SmartBiz through our partner channel:

SmartBiz Loans Named a Best Place to Work in Financial Technology 2020

The SmartBiz team was thrilled to be named one of the best places to work in financial technology - the 3rd year in a row SmartBiz Loans has earned this distinction.  

SmartBiz Loans CEO Evan Singer says, “We are honored to receive this distinction for the third time. It’s a nod to our team of diverse, driven, and accomplished financial professionals who work together every day to help small business owners achieve their dreams. The goals we share help foster a supportive environment where employees do their best work to help customers get the financing they need.” 

Next Week

We'll continue to share information to help you make the most of your SmartBiz Loans partnership. Term loans through banks in the SmartBiz network will be covered.  

February 20, 2020
 

Are you ready to reach out to your small business clients about the benefits of low-cost financing? We’ve got you covered! The SmartBiz Loans partner team has created an easily customizable email template and flyer. 

With two strong calls to action, your clients will be encouraged to move forward. Simply add your logo, your client’s name, and your contact details to this email.
 

Our colorful flyer features a successful SmartBiz customer along with details about SBA and term loans available through the SmartBiz bank network. Drop your logo in and put contact information into the green square at the bottom and you’ll be good to go. 

Get your clients excited about expanding and saving money! 
 

Stay tuned for next week’s email. We’ll share valuable information to help you get loans funded faster and earn more. 

Dear Partners:

Here is an important update regarding your client's current loan application with SmartBiz Loans.

The CARES Act signed last week provides $350 Billion in a new SBA 7(a) loan program called the Paycheck Protection Program (PPP).  The purpose of the PPP is to cover payroll expenses through 100% federally guaranteed loans to small employers impacted by the COVID-19 pandemic. 

In order to help as many qualified, small business owners as possible, the banks in the SmartBiz network are currently focusing on providing PPP SBA loans while the program is still available. 

Because of this, we are going to temporarily pause any traditional SBA 7(a) or bank term loan applications you have in progress. Instead, we will work to switch your eligible clients to the SBA PPP as quickly as we can.

If you do not wish your client's application to be processed under the Paycheck Protection Program, please email your Partner Success Manager immediately to put the application on pause.  All $350 billion of PPP funds could be allocated in as fast as a few weeks; if this occurs, we will restart our processing of traditional SBA 7(a) and bank term loan applications.
 

On PPP Loan Submission and Referral Fee: 

Our lenders expect to begin processing these loans for your clients early next week.

The partner team will keep you posted as we work on Paycheck Protection Program loans for your clients and will provide relevant details on how to submit new clients for PPP loans. 

We are still reviewing SBA guidelines to see how we will structure fees with our partners.  

Thanks for working with us as the lending landscape evolves to address the COVID-19 crisis.  

We appreciate your patience during this busy time. 

Kind Regards,

The SmartBiz Partner Team 

February 20, 2020
 

Are you ready to reach out to your small business clients about the benefits of low-cost financing? We've got you covered! The SmartBiz Loans partner team has created an easily customizable email template and flyer. 

With two strong calls to action, your clients will be encouraged to move forward. Simply add your logo, your client's name, and your contact details to this email.
 

Our colorful flyer features a successful SmartBiz customer along with details about SBA and term loans available through the SmartBiz bank network. Drop your logo in and put contact information into the green square at the bottom and you'll be good to go. 

Get your clients excited about expanding and saving money! 
 

Stay tuned for next week's email. We'll share valuable information to help you get loans funded faster and earn more. 

November 20, 2020
 

I'm excited to share some preliminary results from our Holiday Promotion with you! We've had about 53 eligible funded applications so far from about 39 Partners. What a great start!  

If you haven't yet submitted any applications for your clients, I encourage you to do so and take advantage of this special promotion that ends on December 31st. This is a great time to help your clients prepare for 2021 by applying for the funds they need to build their business.
 

As a reminder, any SBA or term loan application funded from November 1st can qualify if they meet the following criteria*:

SBA Promotion: 

SBA funded loan applications $100,000 or greater 
Bonus Amounts:

• 1st funded SBA loan $100

• 2nd funded SBA loan $250 (total)

• 3rd funded SBA loan $1,000 (total)

Term Promotion:

Term loan funded applications $75,000 or greater
Bonus Amounts:

• 1st funded term loan $150

• 2nd funded term loan $500 (total)

• 3rd funded term loan $1,125 (total) 
   

Please reach out to your Partner Success Manager with any questions or email us at partners@smartbizloans.com.

Thank you,

Brian Greiner
Head of Partnerships

*Partner must be in good standing under the SmartBiz Partner Terms & Conditions

We are pleased to announce SmartBiz Loans is presenting at the National Alliance of Commercial Loan Brokers (NACLB) Fall 2020 Webinar series on Tuesday, September 22, 2020.  
 

Brent Looney, SmartBiz VP of Sales and Business Development, will discuss the upcoming opportunity for brokers to help their small business clients access a first or second PPP loan in the next round of PPP funding being discussed by Congress. In a recent poll by the Coleman Report, 4 out of 5 SBA lenders polled say that over 75% of their borrowers have exhausted their PPP loans and 15% of lenders do not plan to participate in a 2nd draw program. For the next round of PPP, many small businesses will be seeking a lender for their first PPP loan or a new lender for their 2nd PPP loan.  

Please join us for this webinar by registering at the NACLB 2020 Webinar: Fall Series on September 22, 2020 at 3:00 PM (Eastern): 
 

After registering, you will receive a confirmation email containing information about joining the webinar.

We look forward to seeing you at the webinar on September 22 at 3 pm and sharing our perspective on the current landscape for PPP and SBA loans.  

Best,
 

SmartBiz Partner Team

September 15, 2020

The SmartBiz Partner Team is continuing to offer your small business clients the best funding options during these uncertain times. As the lending landscape continues to shift, your input is valuable. Currently, we are looking at offering partners the ability to participate in the next round of PPP funding when approved. 

Please complete our 1-minute, 4 question survey regarding PPP funding. Your answers will help the SmartBiz team better serve you and your small business clients. 

Please reach out to your Partner Success Manager if you have any questions or contact us at  partners@smartbizloans.com. Thank you for partnering with SmartBiz Loans. 

We wish you, your family, and your business the best. 

The SmartBiz Loans Partner Team

February 26, 2020
 

FICO is rolling out two new credit scores this summer. FICO Score 10 and the FICO Score 10 T were created to help lenders better identify risk and reduce defaults. The formulation is updated every few years.

The Wall Street Journal reports that the new score will judge those who fall behind on payments more harshly and will give greater weight to unsecured personal loans.

FICO''s press release also announced that 10 T will place an emphasis on the borrower''s debt. Review our short article showing how to calculate your client''s debt service coverage ratio (DSCR).
 

The DSCR is usually calculated annually and will typically return a number between 0 and 2. Calculate with this formula:

Debt Service Coverage Ratio = Net Operating Income ? Total Debt Service

Learn more about this calculation and how it can impact your client''s loan applications here:
 

Stay tuned for next week''s partner email. We''ll share more relevant information about the financial products available from banks in the SmartBiz network.

Your Partner Newsletter from SmartBiz Loans

Welcome to BizBuzz!

As we continue to weather the coronavirus storm, the SmartBiz Loans team is dedicated to helping your clients get the funding they need to rebuild and reach their goals. 

BizBuzz was created to keep you informed about the small business lending landscape and how you can secure the right-fit funds. 

If you have any questions during this unprecedented time, please reach out to your Partner Success Manager. 
 

Funding Solution Post Paycheck Protection Program (PPP)

The 2020 holiday shopping season is approaching rapidly. If your clients need capital to cover the cost of inventory, staffing, marketing, or more, term loans from banks in the SmartBiz network offer fixed rates and fast funding. Proceeds from a term loan can also be used for working capital, debt refinance, and new equipment purchases. 

Learn more about Bank Term Loans >
 

Did you Review the New SBA Standard Operating Procedures?
 

The SBA has implemented changes that affect the SBA loan process. Please reach out to your Partner Success Manager if you have any questions about these changes.
 

Government Default Requirement - Adds Borrowing Business in addition to Business OwnersUpdate: Both the borrowing business and the business owners must not have defaulted on any government-backed loans. Lenders may still pull background searches at their discretion resulting in the review and questioning of Individual defaults.

Refinance Eligibility Requirement - Limits SBA 7(a) Refinance of Short-term Obligations

Update: Lender must not refinance a short-term obligation that was created with the intent of refinancing with a 7(a) loan. This means recently funded debts earmarked for refinance will be scrutinized and potentially deemed ineligible. Applicants should be pursuing SBA financing as the first option.

SmartBiz CEO Talks Small Business Week 2020
 

National Small Business Week was celebrated in September and Evan Singer, SmartBiz CEO, penned an article about this important observation saying, 

"The U.S. has the tools in place needed to support a strong future economy. As we've shown through history, the resilience of entrepreneurs in the United States coupled with support from the government and consumers can help small businesses thrive once again."

Read the full post >
 

Cameron Green: Partner Success Manager 

Cameron Green has been on the SmartBiz partner team for a year and a half. We last spoke with him in 2019 when he started working with partners. 

What makes a successful partner? A partner who is focused on quality not quantity. A partner who is a problem solver and intuitive is a successful partner. It's imperative that the partner is well-versed on potential hang-ups in the process, such as landlord documents or insurance certificates.

What issues should partners address to help the application process move smoothly? Inform their client upfront about the different products we offer and what to expect along the way!

Any advice for current partners? The best strategy is to prepare your clients about SmartBiz''s workflow.

How has your role with partners evolved since the pandemic? We''ve seen a lot of changes. We were on hold with partners while we processed PPP loans for the first and second round offerings. We''ve taken a more micro approach than macro since the pandemic, certainly.

What do you see for SmartBiz in the future? SmartBiz will continue to be versatile and easily pivot to accommodate clients and partners. The SmartBiz innovation and dedication to client service has continuously made it one of the top providers in SBA loans and we will continue to improve our processes.

Reminder: Updated SBA 7(a) and Bank Term Loan Eligibility Checklists

As you know, there is an eligibility checklist available to you in the Partner Resource Center. It will be edited with the new guidelines shortly. In the meantime, here are links to the updated eligibility checklist for SBA 7(a) and term loans: 

SBA Eligibility Checklist  >

Bank Term Loan Checklist  >

NACLB Paycheck Protection Program Webinar Recording

Proposed Paycheck Protection Program legislation is currently being debated in D.C. Updates might include streamlining forgiveness for loans under $150,000 and a second PPP loan for distressed businesses that have already received loan funding. SmartBiz will continue to follow the progress of this package to keep you informed about the impact this will have on your small business clients.  We will be participating if there's another PPP round, and you will be able to submit loan applications to us and receive compensation!   

March 22, 2020

SmartBiz Loans is open for business! Banks in the SmartBiz network are saying "yes" and our team is available to help your clients get the right financing now. If your client has a strong credit and business history yet is seeing a blip due to coronavirus, please send them to us so that we can help.   
 

Our goal is to provide the greatest number of financing options for your clients through lenders in our network. As a result, we are updating our process and requesting clients to provide 6 months of bank statements (including a screen-shot of the current month of March) when submitting an application.  Recent declines in deposits due to coronavirus may need to be explained or mitigated; however, banks in the SmartBiz network are continuing to lend to affected businesses.

Also, due to rate cuts and fee changes, the SBA 7(a) loan now carries a very low rate  (4.75% to 7.00% for loans from $30,000 up to $5 million). These rates are similar to SBA disaster loans and may be faster to get. Additional stimulus from the federal government may be coming as well to help small businesses.   

If you have any questions about how the coronavirus, rate and fee changes, or additional bank statement requirements may impact client applications, please reach out to your Partner Success Manager.

We appreciate your patience and understanding as we work hard to get your clients the funds they need during these unprecedented times. We'll continue to keep you informed as the lending landscape evolves. Thank you for your continued partnership. 

Best Regards,

The SmartBiz Team



 

October 15, 2020

Here is a link to updated SBA requirements for working capital 7(a) loans. 

As you know, there is an eligibility checklist available to you in the partner resource center and will be edited with the new guidelines shortly. 

In the meantime, here is a link to the updated eligibility checklist for SBA 7(a) loans:

• General eligibility 
• Cash flow analysis
• Credit score requirements

With these guidelines, you'll be ready to approach qualified clients to suggest low-cost SBA funding options. 
 

As before, included are questions to ask your client before applying like:

• Optimum timeline to funding?
• If they've filed business and personal taxes in the last 2-3 years?Plans for loan proceeds?
• Do you rent or own your business location?

Stay tuned for our partner newsletter BizBuzz. We'll continue to share information to help you reach your client's funding goals.

Thank you for your continued partnership.

All the best, 
 

The SmartBiz Loans Partner Team