ICBM developed the Chief Credit Officer Network to give you the opportunity to connect with other CCOs. The Network covers challenging business topics that CCOs face in both public and private sectors. It allows CCOs to address issues and review new solutions in managing high-risk exposure.
This network is designed for and by CCOs. Participants help determine the meeting agendas which ensures the events are relevant and applicable to your bank.
Presentation: Successfully Navigating SBA Loan Liquidations in a COVID-19 World, Matthew J. Bialick, Partner at MJB Law Firm, PLLC
Description: COVID-19 has fundamentally changed the economic landscape for many small businesses. While loan deferrals and government payments have masked the problem in the short term, the long term damage seems inevitable. With economic strain comes an increase in SBA loan defaults. All indications are that SBA liquidation activity is expected to strongly intensify in 2021.
SBA guaranteed loans are a double edged sword when it comes to loan defaults. On the one hand, there is governmental entity there to offset losses and reimburse fees and expenses. On the other hand, there is a whole myriad of additional steps, requirements and regulations that must be observed by the liquidating bank in order to obtain full reimbursement. This program will provide a 10,000 foot overview of the SBA Liquidation process.
- Initial requirements and timelines that must be observed before liquidation commences
- Drafting and compiling required information for the liquidation plan
- Properly defaulting the borrower and commencing the liquidation process
- Navigating through all phases of the liquidation/foreclosure process
- Dealing with offers in compromise, voluntary liquidations and expedited enforcement mechanisms
- Handling special issues such as receivers, fraudulent conduct and borrower bankruptcies
Pricing: Complimentary for Bank Members only