Our team is there to assist at every step of the SBA Lending Process.
Our services include:
Eligibility Determination: Since we work directly
with SBA daily, we are more aware of upcoming trends within the SBA
underwriting and approval process than most if not all of the rest of
the industry. A brief conversation with one of our experts will determine
if a loan is eligible for SBA financing or not.
Credit Memo Consultation and Review: Once we
have determined if a loan is eligible for SBA financing, we will work
with the lender’s underwriting and approval staff to make sure
that it is underwritten and approved by the lender in a manner consistent
with SBA’s policies and procedures.
Loan Packaging: Once the loan is approved at
the bank level, Lyra Lender Services takes over. We will complete all
of the forms required for SBA approval handle the SBA review process
for the lender regardless of the processing method. We have full processing
expertise in both General Processing and Preferred Processing.
Loan Closing: Lyra Lender Services works directly
with the lender's closers or outside counsel, the borrower, and SBA
to ensure an SBA Compliant closing.
Secondary Market Sales: Lyra Lender Services
will sell your loans on the secondary market, manage the settlement
and Gain on Sale Accounting process for your institution.
Ongoing Servicing and Liquidation: Lyra Lender
Services provides support as various required actions arise ranging
from restructuring loan terms, release of collateral, change in ownership,
adding/releasing collateral etc. In the event a loan goes into default,
Lyra Lender Services will work with the lender to make sure the Guaranty
Purchase process is adhered to and the Guaranty is honored by SBA. All
of the above services are included in our unique model. For loans that
Lyra Lender Services processes there will never be an additional charge.