How FranFund Packages Hundreds of Millions in SBA Franchise Loans feat. Shay Kleinschmidt | Ep. 125
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This week on The Art of SBA Lending Podcast, Ray continues his sit-down interviews from NAGGL in New Orleans with guest Shay Kleinschmidt! Shay is the VP of Funding at FranFund, and has tons of insight on how to be a top-tier lender and get more business from loan brokers, and what first-time borrowers need to be educated on before entering the lending process. New episodes drop every Thursday morning, be sure to subscribe to see the rest of our sit-down interviews with top experts in the industry from NAGGL! Navigate this episode: 2:52 Intro to Shay Kleinschmidt 4:57 Shay's role at Franfund 9:55 Overcoming personal hurdles in selling 12:36 SBA 7(a) Lending at Franfund 14:39 How Shays vetting lenders - Fast no, reliable yes 17:07 Educating borrowers on do's and don'ts during a deal 18:23 Tips for lenders reaching out to a high-volume loan intermediary 20:40 Managing lender relationships and ROBS through covid 24:40 Franchise closures and pivots during covid 27:25 Best traits of lenders you want to work with 33:10 Misconceptions from borrowers when looking for a deal 36:13 How landlords can complicate a deal 38:36 Pros and cons of franchises --------------------------------------------------------------------------------- This episode is sponsored in part by: Lumos Data Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance. If you're ready to take your small business lending to the next level with cutting edge analytics and AI visit lumosdata.com or lumosdata.com/contact-us Able Able is an a AI-powered deal acceleration platform that streamlines the most hated process in SBA lending: document collection and management. You can learn more about Able and schedule a demo by going to www.able.ai
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