Services

Eligibility is the single most critical aspect of protecting your guarantee. VITAL understands the standard operating procedures the SBA requires for determining eligibility of a business for an SBA loan, and can assist you in ensuring all borrowers and requested loan proceeds meet requirements. We will help ensure eligibility, and help you navigate the SBA rules, accurately and correctly, every time. Let us provide you with clear and correct guidance. For more information on SBA eligibility rules, visit www.sba.gov/loans-grants

Underwriting and packaging SBA/USDA loans quickly and efficiently is important to ensuring a good borrower experience. Expertise and responsiveness – along with a happy borrower – ensures a good bank experience. We have the tools, processes and procedures in place to ensure the bank and borrower have a good experience, every time.

Loan closing, along with eligibility, are the two most critical areas of preserving the guarantee. VITAL has developed comprehensive closing checklists and procedures that protect the lender’s guarantee. Our expert staff reviews each loan, working with the bank and the borrower to preserve the integrity of the guarantee and your peace of mind.

VITAL helps lenders structure loans so the premium is maximized. We will facilitate the sale of the guaranteed portion of the loan into the secondary market, ensuring prompt and accurate settlement. Loan sale is a strategy VITAL helps many lenders implement to significantly improve their ability to generate noninterest income.

VITAL thoroughly and accurately completes all 1502 reports, ensuring all parties to the transaction are paid correctly for the life of the loan. We pride ourselves on achieving 100% accuracy every month, for every loan.

VITAL will ensure that current SBA standard operating procedures are followed. You will have confidence in knowing which loan servicing actions need SBA approval, which loan servicing actions need the SBA’s notification and which loan servicing actions can be completed “unilaterally” by the bank. Servicing questions are answered promptly and processed quickly by knowledgeable VITAL staff.

VITAL has the knowledge and skill to prepare the required SBA Purchase Packages, CPC Tabs, Offer in Compromise Tabs, Litigation Tabs and Charge Off Tabs, which help to ensure that the SBA honors its guarantee and reimburses its share of liquidation expenses. Liquidations can be a very stressful time for lenders – you are in the business to lend money, not to liquidate. We understand that, and do everything possible to make the process easier, more efficient and less stressful.

Compliance starts with the first conversation with the borrower, and continues until the last payment on the loan. We are here to ensure compliance at every stage for the life of the loan.

Addressing the myriad issues inherent in successfully underwriting an SBA loan is key to reducing risk in your portfolio and preserving the guarantee. VITAL staff have a combined 50 years’ underwriting experience – coupled with our proven processes and procedures -- that ensure no steps are overlooked.

An important component in successfully underwriting an SBA/USDA loan is comparing your borrower’s business performance to others in their industry. VITAL has an extensive database – bigger and broader than RMA – that provides more insightful data for benchmarking.

Some industries have higher default rates than others. Understanding the industry’s characteristics is key to successfully underwriting SBA/USDA loans. The SBA regularly publishes statistics about who it is making loans to. VITAL has access to this deep database of information, which can tell you the number of SBA loans, the dollar amounts, default rate, prepayment rate, and recovery rate of given industries. This can guide the lender in properly managing the credit over the long term.

File reviews shine a light on the strength of, and adherence to, the lender’s policies and procedures. It is an excellent way for lenders to understand their performance. VITAL encourages and supports its clients in periodic file reviews, so any identified weaknesses can be eliminated and improved upon as needed.

Well-defined, thoughtful loan policies and procedures are key to communicating what the bank hopes to accomplish with its SBA/USDA portfolio. Your loan policy guides the actions and behaviors of lending staff, ensuring the bank accomplishes its goals. VITAL will help you craft policies and procedures, and communicate them to staff, bringing everyone onto the same page.

We understand the SOP requirements for liquidating and servicing SBA/USDA loans. Our veteran staff provides clear direction and support for any issues that arise, making the sure the bank is in compliance at all times. When needed, we can refer you to SBA attorneys that can provide further expertise for successfully meeting legal requirements.

VITAL subscribes to a variety of proprietary databases such as Small Business Loan Analytics, FINTEL, Dun & Bradstreet, and Experian credit reporting. We use this information to provide additional insights beyond what can be gleaned from financial statements.