Covid-19 has created unexpected transitions for millions of people. In last week’s Amisight Podcast (our new Podcast) I interviewed Lynn Ozer, MultiFunding’ s new President about her own transition.
Back in January, I contacted Lynn, to participate in a panel I was curating. I call her the SBA Queen, and she has been my go-to SBA bible whenever I have had a question over the past decade. Little did I know that she was in transition, and then everything I was working on stopped to convince her to join our small entrepreneurial team – which would be a dramatic change compared to the massive banks she had worked at over the last decades.
In our chat, Lynn describes her move to MultiFunding as “a breath of fresh air.” Here she can focus on entrepreneurial stories and not worry so much about living in one bank’s credit box. SBA rules are much different than credit boxes. A bank may tell you do not qualify for an SBA loan, but not qualifying for an SBA loan at that bank is different than being ineligible for one. “Commercial lending is more of an art than a science. Sometimes you just need to find a lender who has an appetite for your story.”
Everyone has their own horror story about the hurdles and red tape they had to go through to get a loan, especially when the loan program is administered by the government. If you are trying to navigate the process yourself, or with a bank that isn’t experienced in SBA lending, there’s no doubt it can be tricky. Having someone match you with the right bank and guide you through the process is, as Lynn puts it, is “freaking awesome.” Tune in here, to listen to the story.