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In their own words.

Jenny McCollum Jenny McCollum, Vice President
NBRS Financial Bank
Rising Sun, Maryland
Assets:  $250M
NBRS Financial Bank
Jenny McCollum, vice president of NBRS Financial Bank, discusses the success her bank has experienced with SBA lending and the support of Holtmeyer & Monson.

Q: Why did NBRS choose to work with Holtmeyer & Monson?

Jenny:  Being a community bank, we didn’t have the resources and staff for a comprehensive SBA lending program. Holtmeyer & Monson offered full SBA services at an attractive cost structure—with their help, we had an SBA lending program up and running in no time. The partnership with Holtmeyer & Monson keeps our expenses down, but more importantly, their expertise provides a level of efficiency that far exceeds our expectations. You can hire additional staff, but they will not have the expertise that H&M brings to the table.

Q: Can you describe how Holtmeyer & Monson is a full service SBA provider?

Jenny:  H&M partners with us on every level. Their involvement can run the realm from decisions about qualifying for the SBA, securing the loan application at the SBA, doing a secondary market sale of those assets, and servicing the loans. They take the place of your back office resources—so your staff has more time to source opportunity and interact with customers.

Q: So your bank receives support and services at every phase—starting with the underwriting?

Jenny: Yes. Once a loan is approved by our committee, contingent on securing an SBA guarantee, we send the loan package to Holtmeyer & Monson. They put an application of guarantee together for the SBA, which involves a very specific spread of financials. H&M uses a format comparable to the SBA’s system. This gives our application a priority look when it gets to their processing center.

Q: How has your bank benefited from Holtmeyer & Monson’s SBA expertise?

Jenny: I can call them about any SBA issue, and have confidence that I will get the right answer to move to the next step in the lending process. Their knowledge is so important, but they also offer exceptional and friendly service. They even keep my team up to speed on SBA best practices—giving us good ideas for leads and restructuring existing loans under the SBA.

Q: Can you share more about Holtmeyer & Monson’s attractive cost structure?

Jenny:  It’s simple, because Holtmeyer & Monson charges us a reasonable loan packaging fee that’s paid by the borrower. Once we actually book that loan, that cost structure also carries us through servicing. When we sell a loan on the secondary market, there is a reasonable fee which is paid to H&M, but they’re also structuring the sale and doing the work. So it’s very simple and straightforward.  There’s not a lot of complication in the way that they get paid for their services.

Q: How would you describe the overall value that SBA lending brings to your bank?

Jenny:  SBA lending provides us that ability to continue to be out in the market doing strong loans that are well secured by the full faith and credit of the government, with very little charge to capital, and the ability to sell that asset on the secondary market at a premium.

With Holtmeyer & Monson’s support, we are able to (1) compete with our larger bank players in the market; (2) deliver a community bank experience; and (3) offer SBA loans without significantly increasing our cost structure.

Small businesses are 250% more profitable than consumer banking relationships.

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