Untold Stories from an ’09 SBA Workout Specialist feat. Jason Milleisen | Ep. 123
Manage episode 382872895 series 2772787
In this episode we sit down with founder of Distressed Loan Advisors, Jason Milleisen. During one of the worst financial disasters of our time, Jason was a workout specialist at CIT. From being an underwriter, to switching sides of the table and helping distressed borrowers- Jason's here to share his experiences from that time. If you've been enjoying our episodes this season feel free to leave a review, like our posts, or share our channel- and don't forget to subscribe! Navigate this episode: 2:40 Introducing Jason Milleisen and his company 5:15 "working out" in the Great Recession 7:40 What Lenders Learned from 2008 9:30 Conflicts when considering character 12:18 Discussing offer in compromise 17:39 How do lenders view the role of a workout specialist 22:18 Can a Workout specialist be an alternative to an attorney? 24:16 What kind of work is there for a workout specialist right now? 31:28 Discussing the CAIVRS List and obstacles in receiving 7(a) loans 35:00 Why did Jason start his services? 38:10 What are lenders getting wrong in negotiations? 43:02 Do stronger borrowers get penalized more? 48:00 The emotional aspect of borrowing and negotiating -------------------------------------------------------- This episode is sponsored in part by: Baker Lewis It matters who you partner with to grow and manage your SBA lending business. When you choose Baker Lewis, you partner with professionals as committed to SBA lending as you are. ----------------- Outsourced Risk Management Solutions LLC (ORMS) ORMS is the go-to environmental management firm used by SBA lenders to order environmental due diligence and navigate SBA compliance. If you’re interested in having ORMS manage your environmental process, reach out to Derek Ezovski at dezovski@orms.com.
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