Lloyd Consulting Group, LLC developed a program to address a need for post loan consulting services for small-mid size businesses. Partnering with financial lender(s) as an added-value service to their small business loan portfolio the application of a Post-Finance Technical Assistance Program (PFTA) will result in loan default mitigation and expanded community economic development.
Local, State and/or Federal resources that provide technical assistance (T/A) services deliver essential guidance and support for pre-finance technical assistance but a gap in services exists in post-finance technical assistance. Post-Finance Technical Assistance is a validated need by the SBA and its resource partners but there is a lack of understanding of how to design a working model with the appropriate key elements that will optimize value for the small business client and lender. A methodical approach to a structured PFTA program at the lender level will ensure business objectives are met, loan defaults are mitigated and community economic development is achieved.