This week on The Art of SBA Lending, we go behind the scenes with Heidi Whitesell to unpack the leadership, culture, challenges, and ultimate wind-down of a successful SBA lending division. Ray Drew sits down with Heidi, who he calls one of the best leaders he's ever worked for, to discuss the philosophy that created a legendary, family-like culture in a fully virtual, non-bank setting.

Heidi shares the vision for her former venture, Fund-Ex, which quickly climbed the national rankings without losing its unique team culture. She reveals her leadership principles, including the powerful belief that "love always works," and explains how relentless positivity, transparency, and providing resources ahead of revenue were the keys to their success—even in a highly complex industry. The conversation takes a raw and emotional turn as Heidi opens up about navigating the intense, uncertain process of a company sale and eventual wind-down while privately battling a serious health crisis, revealing why she chose to stay and fight for her team.

🎯 In this episode:

• The Vision for Culture: How a fully virtual SBA team built a top-25 lending operation with a "family" culture using the principles of People, Process, and Product.

• Leadership Secrets: The power of transparency, collaboration, and why staying positive and putting the team first are non-negotiable for a leader.

• The Resource Strategy: Why investing in resources before revenue is essential for speed and service, and how this investment combats costly employee turnover.

• The Ultimate Test: Heidi's emotional account of leading the company through the stress of a sudden sale, a liquidity crisis, and the difficult process of a year-long wind-down.

• A Leader's Sacrifice: The incredible story of how a commitment to her team kept her fighting while undergoing chemotherapy.

💬 What do you think is the hardest part about building a strong culture in a virtual environment? Share your thoughts below!

🎙This episode is sponsored by:

CORPSMART

Want to win over your closing team? Next time you pick up a deal involving titled assets, go to corp-smart.com/artofsba and request a quote for tax, tag, and title so you can structure your loan correctly right from the jump. When it comes to titling vehicles, boats, and aircrafts, CORPSMART has the knowledge to assist you confidently. CORPSMART offers full-service titling solutions, working directly with the local agencies to get your titles processed accurately and on-time. If you’ve struggled with recording titles, reach out to support@corp-smart.com to learn more about their services.

Rapid Business Plans

Rapid Business Plans is the go-to provider of business plans and feasibility studies for government guaranteed small business lenders. For more information, or to set up a Get Acquainted call, go to https://rapidbusinessplans.com/art-of-sba. Find out why so many top-producing BDOs recommend Rapid to their small business borrowers.

Loving The Art of SBA Lending episodes? Make sure to follow along with our sister shows, The BDO Show and SBA Today, each week with the links below! https://www.youtube.com/@TheBDOShow https://www.youtube.com/@SBAToday

Head to http://www.artofsba.com for more information and to sign up for our must-read monthly newsletter to stay up to date with The Art of SBA Lending.

This week on The Art of SBA Lending, we explore the world of USDA Business & Industry (B&I) lending, often considered the "last frontier" of government-guaranteed small business finance. Host Ray Drew, who admits to knowing very little about the program, is joined by a panel of USDA experts—Steve Small, Jason Hoerr, and Charles Conoley—to demystify this often misunderstood loan program.

The panel provides a deep dive into the B&I program, which is designed to stimulate economic activity and job creation in rural areas (populations of 50,000 or less). They reveal key advantages over the SBA 7(a), including larger loan amounts (up to $25 million), 30-year terms on real estate, and eligibility for investment real estate and non-profits.

We tackle the common misconception that USDA loans take forever, clarifying that acquisitions can be approved in 2-4 weeks after bank approval. The panel explains why the USDA culture is fundamentally different from the SBA, acting more as a participant in a conventional loan rather than a strict insurer. Finally, we dive into the controversial question: Should the USDA B&I program be absorbed by the SBA?

🎯 In this episode:

• An overview of the USDA B&I program and its mission to create jobs in rural communities.

• Why the USDA guarantee of 80% up to $25 million is a "magic bullet" for rural commercial finance.

• The big cultural difference between USDA and SBA, and why USDA almost never repairs a guarantee.

• The value of a loan packager in navigating the "never-ending" nuances of state-by-state USDA processes.

• The biggest pain points: from outdated environmental regulations to staffing upheaval and inconsistent policy.

💬 Should the USDA B&I program be absorbed by the SBA? Let us know your thoughts in the comments!

🎙This episode is sponsored by:

Lumos

Lumos empowers your small business lending growth with cutting-edge analytics and streamlined applications that optimize your performance.

If you're ready to take your small business lending to the next level with cutting edge analytics visit https://lumosdata.com/

Shatterbox

Learn how Shatterbox can help you hire and invest in bright young talent without breaking the bank. Go to https://shatterbox.io/artofsba and set up a discovery call today.

Head to http://www.artofsba.com for more information and to sign up for our must-read monthly newsletter to stay up to date with The Art of SBA Lending. Also, make sure to follow along with our sister shows, The BDO Show and SBA Today.

This week on The Art of SBA Lending, we're doing something special: a Money Store reunion episode. The Money Store pioneered the Business Development Officer (BDO) model and revolutionized the SBA lending industry, holding the top position for 16 consecutive years. Host Ray Drew brings together four Money Store alumni-John Handmaker, Vince Calicchia, Joe Weiner, and Sam Renta-to share stories and insights from the company that changed SBA lending forever.

The panel reminisces about the legendary BDO boot camps, the company's aggressive marketing, and its commitment to a sales-driven culture. They discuss what made The Money Store so successful and how that culture has influenced a generation of SBA lenders. From Mark Turtletaub's visionary leadership and theatrical flair to the infamous "Purple Palace," the alumni provide a rare glimpse into the "good old days" of SBA lending. The episode also features a surprise appearance from Mark Rattfield, a former underwriter who became a successful BDO after being inspired by a colleague's W-2 form.

🎯 In this episode:

• The origins of The Money Store and how they became the number one SBA lender in the country.

• The "sensationalized" marketing that made them famous, including co-branded signs and the BDO boot camp.

• The "cookie story," a lesson in focusing on a company's specific credit box.

• How a sales-driven culture and a shared vision created a sense of purpose and synergy among the team.

• The big difference between SBA lending then and now, from paper packages to referral fee culture.

💬 What's your take on the referral fee debate? Did The Money Store-era BDOs have it better, or are today's lenders more equipped for success? Join the debate in the comments.

🎙This episode is sponsored by:

CORPSMART

Want to win over your closing team? Next time you pick up a deal involving titled assets, go to corp-smart.com/artofsba and request a quote for tax, tag, and title so you can structure your loan correctly right from the jump. When it comes to titling vehicles, boats, and aircrafts, CORPSMART has the knowledge to assist you confidently. CORPSMART offers full-service titling solutions, working directly with the local agencies to get your titles processed accurately and on-time. If you’ve struggled with recording titles, reach out to support@corp-smart.com to learn more about their services.

Rapid Business Plans

Rapid Business Plans is the go-to provider of business plans and feasibility studies for government guaranteed small business lenders. For more information, or to set up a Get Acquainted call, go to https://rapidbusinessplans.com/art-of-sba. Find out why so many top-producing BDOs recommend Rapid to their small business borrowers.

Link to “A day in the life” video: https://youtu.be/qZO7ihtehkU?si=sc-DvfagqqyBlBb8

Link to “Mad to make loans” music video: https://youtu.be/gwRa3MKXe6g?si=w5eCh_WPdLVj_YNf

Join Ray and some of the Money Store alum LIVE on LinkedIn September 26th at 3pm ET for a trip down memory lane:

Loving The Art of SBA Lending episodes? Make sure to follow along with our sister shows, The BDO Show and SBA Today, each week with the links below! https://www.youtube.com/@TheBDOShow https://www.youtube.com/@SBAToday

Head to http://www.artofsba.com for more information and to sign up for our must-read monthly newsletter to stay up to date with The Art of SBA Lending.