THE MINDSET OF THIS SBA UNDERWRITER

Let's be honest here- to most professionals, underwriting is considered boring with a capital B. I mean, how many of the 135 million full-time US workers (as of 8/23) truly aspire to spend up to 12-hour days behind a desk crunching numbers?

This guy, that’s who!

I’m Nathan Walker, Senior SBA Underwriter for Fund-Ex Solutions Group, with average annual production volume of $50MM+; here to share my passion for underwriting with you.

In my humble opinion, SBA underwriting is not just intriguing; it's wonderfully chaotic, it’s romantic, and, most importantly, it’s rewarding.

I know you’re probably skeptical…but let me explain.

It's intriguing as you delve into financials, drawing connections between owner practices and performance, or lack thereof. It's intriguing as you explore how owners choose their selected markets, products, or services, obtain market share, increase sales, margins, and cash flow, etc.

It's chaotic just as you discover that the buyer and seller have renegotiated acquisition terms, resulting in a loan structure change only two days into a review. Suddenly, existing debt service, proforma balance sheet figures, and working capital—all moot!

It's chaotic when, on top of all of that, the SBA issues a technical update set to take effect possibly before obtaining authorization, potentially rendering the loan ineligible.

Yet, despite acquisition changes and pending SBA updates, the Fund-Ex gang and I have to execute efficiently on behalf of our borrowers.

Chaotically, but efficiently, we get the job done.

And then, it gets romantic.

When the loan intrigue transforms into loan fatigue, and a commitment letter is issued, I know lives are about to change.

SBA capital transfers facilitate job growth through business expansions, start-ups, changes of ownership, increased exporting, and debt restructuring, saving thousands in interest costs.

The lending industry is undeniably personal. Working one-on-one with borrowers, through calls, texts, and emails, relationships develop. You see their lives literally reported on tax returns and, firsthand, contribute to a small fraction of their future success. It's incredibly rewarding. If Warren Buffet tap dances to work, then I do cartwheels.

My advice? Identify your passion in life, which may take time, and if you're fortunate enough to monetize it, seize the opportunity.

A heartfelt thank you to our borrowers and Fund-Ex.

‍