Lessons Learned from Deals that Died | Ep. 78

Lessons Learned from Deals that Died | Ep. 78

Welcome back to The BDO Show—where the ups and downs of SBA lending drives BDOs to overconsumption of coffee (even at 7 PM) and sweet little threats to their borrowers. SBA lending isn't just about spreadsheets; it's an emotional roller coaster. This week, the panel gets real about the crushing deals that died, the shock of fraud, and the unexpected "therapy session" that happens when a loan finally funds. Join Emily Detor, Andrew Chong, John Chung, Daniel Park, and Zach Bennett as they share their most painful (and triumphant) deal stories: Tune in as they break down: * 💀 Time Kills Deals: Andrew is living this out right now with a deal that – if they listened – would have gotten done. * 💔 The Year-Long Loss: Zach recounts his most crushing career deal: a purchase that took a full year to underwrite, only to be killed at the finish line by a new Chief Credit Officer who just had a "different set of eyes." * 🚨 The Fraud Flag: Zach and John detail the terrifying reality of encountering tax fraud and the common issue of sellers being leery of providing real tax returns. * 🥊 Fighting Credit: The panel agrees that the key to dealing with the credit team is credibility. You must anticipate weaknesses, hit them head-on, and mitigate issues upfront—otherwise, they can sink your deal later. * ⏱️ Borrower Deadlines: John explains why you must give the borrower deadlines and make them responsible for the timeline: "We can close as fast or slow as you get us everything we need." This episode is packed with war stories, mental strategies for surviving sales, and a reminder that you're an essential part of the American Dream. 👉 What was your most heartbreaking deal loss? Share your story in the comments or email us at TheBDOShow@ArtofSBA.com. 🎙This episode is sponsored by: Rapid Business Plans Rapid Business Plan is a trusted partner that can help your borrower get their story on paper. Whether they're acquiring, starting, or expanding, Rapid Business Plans delivers powerful, fast SBA and USDA-ready business plans with projections and assumptions. For more information go to https://rapidbusinessplans.com/the-bdo-show [https://rapidbusinessplans.com/the-bdo-show] Peak Business Valuation Our partner, Peak Business Valuation, has a free resource for BDO listeners, listing rule-of-thumb formulas for common SBA industries. Don't make the rookie mistake of missing the valuation at the prescreen phase. Go to peakbizval.com/bdoshow [https://www.google.com/search?q=https://peakbizval.com/bdoshow] to get yours today.

A Day in the Life of a BDO | Ep. 77

Welcome back to The BDO Show—where morning routines are the foundation of success. This job is not for the weak. So, how do top producers manage pipeline, personal life, and the chaos of being a BDO? This week, Daniel Pak, John Chung, Andrew Chong, and Zach Bennet open their daily calendars and walk us through their routines, from stock trading and prayer to gym time and daycare drop-offs. Tune in as they break down: * 📅 The BDO Morning Routine * 👶 Juggling Deals and Diapers: Zach and Daniel share the struggle of being hands-on BDOs while raising young children * 🤝 Proximity is Power: Daniel explains why he divides his day between his corporate office (where closers and underwriters are) and his branch office. Being "right there on the spot" is the key to his success. * 🎁 Holiday Pipeline Management: The secret to keeping your support staff happy (so they're happy to see your name across their desk)? Starbucks gift cards, kudos on the intranet, and taking closers out to lunch when a loan funds. * 🧠 Educate Your Brokers: Andrew and Daniel champion spending time educating brokers—especially residential (resi) mortgage brokers who are new to commercial lending. This episode is packed with personal stories, time management hacks, and a deep look at what it takes to be a successful, hands-on BDO. 👉 How do you manage the "fires" in your pipeline? Share your best time management hack in the comments! 🎙This episode is sponsored by: SBA Protection SBA Protection Quick Close Life Insurance is the fastest, easiest way to secure the insurance protection that your borrower needs for their SBA loan. Their process is simple, hassle-free, and only takes a few minutes of your borrower's time. For more information, visit their website https://sbaprotection.com/ [https://sbaprotection.com/] or email Adam Bergen at Adam@SBAProtection.com. Peak Business Valuation Our partner, Peak Business Valuation, has a free resource for BDO listeners, listing rule-of-thumb formulas for common SBA industries. Don't make the rookie mistake of missing the valuation at the prescreen phase. Go to peakbizval.com/bdoshow [https://www.google.com/search?q=https://peakbizval.com/bdoshow] to get yours today.

The Modern BDO Playbook feat. Cam Nayebi | Ep. 76

Welcome back to The BDO Show—where the next generation of BDOs are taking notes (literally). Cam Nayebi is back! Just finishing his first full year as a BDO, Cam is on track for $30 million in production—a staggering "unicorn number" that even seasoned vets couldn't touch in their early years. Join Emily Detor, John Chung, Daniel Park, and Andrew Chong as they break down Cam's playbook: * 📈 The Leap to 30: Cam reveals his secret to scaling: stopping work on singular deals and focusing 80% of his time on revenue-generating activities. * 🛡️ Pipeline Protection: The key to surviving a market slowdown is patience and consistency. Cam lost $5-7 million in great deals due to environmental issues, but his deep pipeline saved him from fragility. * 🤖 AI & The Handwritten Note: Cam shares his passion for using AI to accelerate document collection and draft narratives faster, but he warns that a personal, wordy email style still remains his core value that AI can't replace. * 🎓 The Mentor Effect: Cam credits his success to his support group (including his RSM Rhonda) and the importance of having mentors who let you fail quick and figure things out on your own. * 🥊 The Battle for First Look: John explains why networking with other BDOs—even competition—is crucial; if you can't do a deal, passing it to a trusted contact keeps you "first look". * 🗓️ The Shutdown Playbook: Cam shares his strategy for managing customers during the government shutdown: be transparent, prioritize clients under purchase contract, and market your conventional options. This episode is packed with current market strategy, tips for handling tough conversations, and the truth about what it takes to win the battle for the borrower. 👉 What is your best strategy for generating deal flow? Share your secrets (or just your favorite emoji) in the comments! 🎙This episode is sponsored by: SBA Protection SBA Protection Quick Close Life Insurance is the fastest, easiest way to secure the insurance protection that your borrower needs for their SBA loan. Their process is simple, hassle-free, and only takes a few minutes of your borrower's time. For more information, visit their website https://sbaprotection.com/ [https://sbaprotection.com/] or email Adam Bergen at Adam@SBAProtection.com. Rapid Business Plans Rapid Business Plan is a trusted partner that can help your borrower get their story on paper. Whether they're acquiring, starting, or expanding, Rapid Business Plans delivers powerful, fast SBA and USDA-ready business plans with projections and assumptions. For more information go to https://rapidbusinessplans.com/the-bdo-show

Battle for the Borrower: Finding Your Unique Selling Proposition | Ep. 75

Welcome back to The BDO Show—where deals get funded, policy changes drop like bombs, and no borrower (or lender) is truly safe. The competition for SBA 7A loans is fierce, with big banks, community lenders, and 504 CDCs all fighting for the same borrower. So, how do top BDOs like John Chung, Daniel Park, Andrew Chong, and Zach Bennett stand out and secure the win? Join the fight as they break down: * 🎯 The 504 Invasion: John notes that 504 lenders (CDCs and commercial banks) are coming down to the 7A space, trying to offer fixed-rate financing to meet their goals, leading to more shopping and pricing compression. * 🔥 The Sizzle Sale: Daniel reveals his famous marketing strategy: "We're over here selling steak, but I sell the sizzle of the steak," using emojis and relatable, non-deal-specific posts to create buzz and separate himself from the boring competition. * ⚡ Speed as a Weapon: Andrew and Daniel detail their competitive edge: avoiding loan committee entirely for sub-$3 million deals (one signature!) and the possibility of closing docs in less than one day when everything is in place. * 🔨 Pivot or Perish: Zach shares how his institution lowered its par rate by half a percent to stay competitive on 504 deals, while John's bank added 504 lending for certain California transactions to capture more deals and offer variety. * 🤝 The Network Advantage: John explains why networking with your "enemies" (other BDOs) is crucial—if you can't do a deal, you remain "first look" by giving the client to a contact who can close it. This episode is packed with current market strategy, tips for handling tough conversations, and the truth about what it takes to win the battle for the borrower. 👉 What is your best strategy for generating deal flow? Share your secrets (or just your favorite emoji) in the comments! 🎙This episode is sponsored by: Rapid Business Plans Rapid Business Plan is a trusted partner that can help your borrower get their story on paper. Whether they're acquiring, starting, or expanding, Rapid Business Plans delivers powerful, fast SBA and USDA-ready business plans with projections and assumptions. For more information, email Bethany McClellan at Bethany@RapidBusinessplans.com or go to https://rapidbusinessplans.com/the-bdo-show [https://rapidbusinessplans.com/the-bdo-show] Peak Business Valuation Our partner, Peak Business Valuation, has a free resource for BDO listeners, listing rule-of-thumb formulas for common SBA industries. Don't make the rookie mistake of missing the valuation at the prescreen phase. Go to peakbizval.com/bdoshow [https://www.google.com/search?q=https://peakbizval.com/bdoshow] to get yours today.

Market Update: Tightening Credit Environment, Selling 504 vs 7a, & Broker Fees | Ep. 74

Welcome back to The BDO Show—where banks are playing defense, brokers are fighting for every dollar. 🚨 The market is shifting! As defaults rise, many banks are getting conservative and scaling back on commercial real estate and conventional lending to protect their assets. The result? The SBA world is becoming a critical driver for fee income, making it the wild west of finance! Join Emily Detor, John Chang, Andrew Chang, Daniel Pak, and Zach Bennett as they break down how to thrive in this "play-defense" environment: * 🛡️ Banks vs. SBA: Why commercial groups are getting picky, and how the SBA side is being leveraged (or scaled back) in response to shrinking deposits. * 💰 The Broker Battle: Are they desperate, asking for ridiculous fees, and "double-dipping" on commissions? (Plus, why Daniel's volume is "always up" and he just wants to sit this one out.) * ⚖️ 7(a) vs. 504: The eternal question. Which loan product is best for the borrower, which pays the BDO more, and how do you sell against the one you can't offer? * 🔑 The BDO Defense: The single most important piece of advice for new and current BDOs to keep their deals (and their credibility) alive with credit. This episode is packed with market strategy, war stories about rogue brokers, and a strong, final reminder: It all comes down to education! 👉 What's the wildest broker story you've heard this quarter? Share your thoughts in the comments or email us at TheBDOShow@ArtofSBA.com [TheBDOShow@ArtofSBA.com]. 🎙This episode is sponsored by: SBA Protection SBA Protection Quick Close Life Insurance is the fastest, easiest way to secure the insurance protection that your borrower needs for their SBA loan. Their process is simple, hassle-free, and only takes a few minutes of your borrower's time. For more information, visit their website https://sbaprotection.com/ or email Adam Bergen at Adam@SBAProtection.com [Adam@SBAProtection.com]. Peak Business Valuation Peak Business Valuation has put together a free resource just for BDO show listeners, listing out the rule-of-thumb formulas for common industries financed by SBA lenders. Get yours today at peakbusinessvaluation.com/get-your-free-valuation-resource/ [https://peakbusinessvaluation.com/get-your-free-valuation-resource/]