Testimonials.

In their own words.

Brad Hailey, President Brighton Bank Brighton, Tennessee Assets:  $75M

Q:  What prompted Brighton Bank to take the first step into SBA lending—and why did you decide to use Holtmeyer & Monson’s services?

Brad: In 2008, I saw a presentation on SBA lending at an ICBA conference and learned how Holtmeyer & Monson takes the problems associated with SBA loans away from the bank. I was a bit skeptical at first, but when a customer asked for an SBA loan a short time after that, I decided to try it with the help of H&M. I had not done a single SBA loan at that point.

Q: Why did you avoid SBA loans prior to working with Holtmeyer & Monson?

Brad:  My philosophy concerning SBA loans was that you were either in it full time with an SBA department, or you didn’t do them at all because they were too complicated. The work was too complex for a bank that didn’t understand it, and didn’t have the documentation software—because sometimes the whole risk behind an SBA loan is not getting the file put together properly.

Q: How would you sum up the role Holtmeyer & Monson plays in helping your bank overcome the challenges of SBA lending?

Brad:  Holtmeyer & Monson understands SBA loans; what the SBA is looking for and what’s required. We’ll work directly with the customer, gathering facts and financial statements for our own credit memo—and then it’s turned over to Holtmeyer & Monson and basically we’re done. H&M does the rest of the work.

Q: What has been the benefit for Brighton to be able to do the volume of SBA loans you’re now doing?

Brad:  With the current economic challenges, it’s been very important. Community banks, and even the large banks, have not been in a growth mode. SBA lending allows us to keep making loans and gives us the opportunity to sell off the guaranteed portions of the loans. With the SBA government guaranteed loans we can sell off 90% of the balance of the loan to an investment firm. The great part is that Holtmeyer & Monson handles that portion of it too, getting bids and making the sale. When the loan is sold, we make money. We’re able to generate non-interest fee income and still make loans without growing our loan balance.

Q: So essentially, SBA lending adds another source of income for the bank?

Brad:  A huge, huge source of income. Especially last year, when our margins had shrunk, and it was difficult to make money. I was able to add a third of my normal earnings to the bottom line for the year.

Q: How would you sum up the experience of entering the SBA lending pool?

Brad:  Holtmeyer & Monson has made SBA lending easy. They do the hard work that is involved in an SBA loan, and then follow through by closing the loan properly, getting it sold out in the secondary market, and servicing it.

Holtmeyer & Monson understands the small business customer and the struggles that they’re going through. Through SBA loans, we really helping out customers that need some assistance to get through this economy. It’s been very satisfying to be able to help those people.