Capital Growth Solutions, LLC Closes $2.5 Million SBA Loan in Tallahassee, FL

Capital Growth Solutions, LLC ("CGS") closed a $2.5 Million Small Business Administration ("SBA") 7(a) loan in North Florida on Friday, March 8, 2013.  "This is the first of three loans we will close in the next couple of weeks for our first Florida Bank member," CEO Gary Griffin stated.  This Lender began its relationship in December 2012 with CGS to utilize CGS's outsourced SBA lending services.  "While I was en route to this closing, two more Florida banks requested a visit from CGS -- from both North and South Florida", Griffin said.

The Florida market is not the only booming SBA market right now.  CGS has signed on several new banks in Georgia, Alabama and Tennessee.

By outsourcing their SBA department, Banks can reap the benefits of doing SBA loans without the expense of establishing an in-house SBA department.  CGS's team consists of highly qualified and seasoned SBA personnel.  They cover every aspect of SBA lending from assisting in the preparation of the credit analysis, submitting the application to SBA, closings, loan operations, monthly servicing and reporting and, if necessary, liquidation.  CGS also provides training to their Banks, so that the Bank personnel are fully informed on all aspects of SBA lending.  "With the  constant updates to SBA rules and regulations, training has become an even more important facet of the services proved to our Bank members," Griffin added.

On a side note, in conjunction with SBA, CGS's CEO Gary Griffin has instructed lenders at SBA's conferences on the topic of "Preserving the SBA Guaranty".  Griffin conducted classes in Kingsport/Bristol and Knoxville, TN in February and will be in Cookeville, TN in March.


Submitted by:

CAPITAL GROWTH SOLUTIONS
6650 East Brainerd Road, Suite 212
Chattanooga, TN 37421
423-475-5700

email: info@capgs.com

http://www.capgs.com/

CGS Continues to Expand - Welcoming 2 New Employees

Capital Growth Solutions, LLC ("CGS")  has increased its Loan Servicing and Liquidation Department to better serve the expanding volume of loans in that department.  Two new hires include Jim Gugliemino and Ryan Summerlin.

Jim Gugliemino comes to CGS with vast experience in the banking business. He has worked as a loan officer, business development officer, residential and commercial mortgage broker and underwriter. Jim has been involved in the origination process of loan development through the underwriting, packaging, processing, closing and servicing of commercial and business loans under the US Small Business Administration 7(a) and 504 programs as well as secondary market conventional programs.
 

Jim's analytical experience gained through his examinations of Borrower's Applications, Lender's Applications for Guaranty, Loan Officer's reports, global cash flow analysis, schedules of collateral, Sources & Uses, historical and pro-forma income statements and balance sheet analysis, debt repayment ability analysis and diligence reports and appraisals will provide a valuable asset in the continuing growth and expansion of Capital Growth Solutions, LLC.

Ryan Summerlin joins Capital Growth Solutions to lend a hand as a Loan Officer Trainee.  Ryan's past experience as a lending assistant and as a loan officer trainee for First Bank of Dalton (GA) will be beneficial as he posts service fee income payments, balances bank accounts for the 14 plus banks which profit from CGS's outsourcing of their SBA loans.  Ryan also books and sells loans.  He is responsible for creating the 10 tab files and credit files for CGS loans.

 
CGS Vice President of Loan Servicing and Liquidation Hope Howell says: "We welcome both Jim and Ryan to our team.  They will both be assets in the ever changing SBA world."

Submitted by:

CAPITAL GROWTH SOLUTIONS
6650 East Brainerd Road, Suite 212
Chattanooga, TN 37421
423-475-5700

email: info@capgs.com

http://www.capgs.com/

Capital Growth Solutions' CEO Gary Griffin Speaks at SBA's Alabama Lenders Conference

The Alabama office of the U. S. Small Business Administration ("SBA") invited Capital Growth Solutions, LLC's  ("CGS") President and Chief Executive Officer Gary Griffin to speak at their annual Lenders' Conference held at the beautiful Marriott Legends at Capital Hill in Prattville, AL on April 4 - 6, 2012.  Over 130 people from at least four different states attended this year's conference.

Some of the attendees pictured above enjoying a delicious lunch are (from left to right) Rob Richardson, Senior Vice President at Southern States Bank, AL, Angie Sweatman, Vice President of Alabama Small Business Capital and Lynn Long, President of First Financial Group, Atlanta, GA.

Mr. Griffin and Deputy Center Director Greg Prichard, from the SBA 7(a) Loan Processing Center of Citrus Heights, CA, shared the SBA 7(a) Loan Packaging and Underwriting session.  This session was held twice on Thursday, April 5, 2012.  Griffin and Prichard reviewed the 7(a) loan processing and submission through the Loan Guaranty Processing Center ("LGPC").  "From the feedback we received, everyone benefited and enjoyed the session," Mr. Griffin said.  "Working with Greg Prichard was a real pleasure; it was like we'd been doing presentations together for years!"

Mr. Griffin and Mr. Prichard were awarded a gold coin "of the realm" by Tom Todt, District Director for the SBA's Alabama District Office for their service and contributions to the Conference.

(Pictured above, Gary Griffin on left and Greg Prichard on right.)

Additionally, First Partners Bank f/k/a SouthCity Bank received the Community Bank of the Year award for 7(a) Lending.  "First Partners was one of the very first lenders to join our [CGS's] loan service provider network," Gary Griffin said.

(Pictured above from left to right are  SBA LGPC Deputy Director Greg Prichard, Tracy Corcoran, Vice President and Art Freeman, EVP, Chief Lending Officer of First Partners Bank and SBA District Director Tom Todt.)

"We [First Partners Bank] are dedicated to the SBA and small businesses, because we believe the SBA's philosophy is in line with our bank's mantra: When you succeed, we succeed...the same goes for our SBA partners at CGS.  They understand when we are doing well, they are doing well.  So it is a mutually beneficial relationship that we, the SBA, our borrowers and Capital Growth Solutions all share,"  Ms. Corcoran stated.

When asked what was the most important thing to take away from this conference, Mr. Griffin said, "The lenders need to be constantly aware of the changes in the standard operating procedures of SBA and the resources that SBA has available to assist the small business community."

Capital Growth Solutions is very proud to be a part of SBA's training at a state and national level.  "It is an honor to be invited to participate in this conference," Mr. Griffin said, "I firmly believe in the SBA program and all its benefits to our small businesses."

*          *          *          *          *

On a side note, two separate lending institutions represented by Capital Growth Solutions, LLC made the two largest SBA loans in the state of Alabama in the fiscal year 2011 in the amount of $5 million each.

Submitted by:

CAPITAL GROWTH SOLUTIONS
6650 East Brainerd Road, Suite 212
Chattanooga, TN 37421
423-475-5700

email: info@capgs.com

http://www.capgs.com/

Capital Growth Solutions attends SBA SE Small Business Lenders Conference

President and CEO Gary Griffin and Chief Credit Officer Liz Eicholtz attended the 2012 Southeastern Small Business Lenders Conference at the beautiful Reynolds Plantation Ritz Carlton in Greensboro, Georgia this past week (Feb. 5 through Feb. 7, 2012).

As with most of these events, a golf tournament began the weekend.  Our very own Gary Griffin won the longest putt contest with a 14 foot 7 inch putt.  Way to go Gary!

After the golf tournament, it was on to a fabulous Super Bowl party at a local theatre.  We were able to watch the game on a huge, theatre-sized screen, as well as many flat screened TVs that were scattered about the second floor.  Our tailgating food consisted of chili dogs and nachos with drink coupons at a full bar and a 3-tiered cake for dessert.  Great fun had by all -- especially the NY Giant fans!

Monday was down to work with the conference, attended by over 260 people, beginning in earnest.  "The conference was very well timed and informative", said Gary Griffin, CEO Capital Growth Solutions, LLC.  "We gathered a great deal of information  that will help our Bank clients continue to expand their Small Business Administration ("SBA") lending platforms, both in 7(a) lending and 504 loans," Gary continued.

"There are a lot of changes going on in both the SBA 7(a) and 504 world right now and the information provided was timely, accurate and appropriately covered both loan types," commented Liz Eicholtz, Capital Growth Solutions, LLC's Chief Credit Officer.  "The subject choices for the sessions were varied to meet the needs on anyone attending the event, from lenders to liquidators," Liz further stated.

Monday evening attendees enjoyed a dinner and casino night with a DJ and dancing.  

Tuesday was a half day full of information.  "The 'new' personnel in place at SBA in Washington seem to have the best interest of the Lenders at heart, which is an excellent continuation of the progress we made as an industry last year," Gary said.  Liz also commented on the SBA representatives attending the conference and how "easily accessible and willing to address any questions/concerns we were experiencing", these folks were.

"Overall, the conference was well run and appropriately informative.  Greensboro was beautiful," Liz's final thoughts.

Submitted by:

CAPITAL GROWTH SOLUTIONS
6650 East Brainerd Road, Suite 212
Chattanooga, TN  37421
423-475-5700

email:  info@capgs.com

http://www.capgs.com/

Capital Growth Solutions travels to NAGGL Conference in Huntington Beach, CA

On October 24 through October 27, 2011, Capital Growth Solutions' President Gary Griffin, Chief Credit Officer Liz Eicholtz and Office Manager and CGS Blogger Sue Griffin traveled to Huntington Beach, California to attend the National Association of Government Guaranteed Lenders 27th Annual Conference on Small Business Lending.

Surrounded by beautiful beaches, and known as a surfer's paradise, Huntington Beach certainly lived up to its name.  With all the beauty outside it was difficult to concentrate on the seminars inside, however NAGGL hosted many informative seminars that kept the attendees busy during the daylight hours.  The CGS crew was here in California to learn and educate themselves, as they continue to keep up to date with the most recent changes in policies and procedures regarding the U. S. Small Business Administration.

SBA Deputy District Director Rachel Baranick and Lender Relations Specialist Stephen Leung were on hand to lend their expert advice.

Advanced SBA Loan Documentation and Closing, Mastering SBA Credit Underwriting, Advanced SOP 50 10 Training, SBA Loan Servicing and Liquidation, the Mechanics of the SBA 7(a) Secondary Market and the Guaranty Purchase Process were some of the training courses offered.

Attendance at the conference numbered over 650 participants.  The largest conference since 2007.  Capital Growth Solutions as a company continues to grow in direct relation to NAGGL and the SBA.

"It was great to see how excited the SBA is to get our feedback to make their products better and more user-friendly," Liz Eicholtz said. "They're not telling us 'this is the way it is', they actually want to make it the best it can be."  Ms. Eicholtz further stated, "and I was really excited to hear that within the next year they (SBA) are excited about the 504 program overhaul they are planning to do.  The program is great it just needs modifications and updates, and the SBA is ready to make these changes," Ms. Eicholtz concluded.


Of course those who work must have some time to play.  This conference provided two evenings of entertainment in keeping with the beach theme.  A beach party in "parrot"dise opening reception brought together friends and colleagues to taste culinary delights including a roasted pig and encouraged attendees to dress in their favorite beach attire and don their parrot head hats.

Lisa Preston (left) President and Karen L.R. Howard (right) Sr. Consultant of The Preston Group, LLC show off their creativity.  The folks from League City, Texas were definitely the crowd favorites.

On the second evening, we again wore our beach clothes and were off to the Riding the Wave party.  Attendees and guests experienced a mouth-watering buffet dinner which was followed by games at the Coastal Casino, great music from an ultimate surf-style, rock-n-roll band and those brave enough tried their balancing techniques on the simulated wave machine.

Capital Growth Solutions' President Gary Griffin relived his surfer youth days and impressed everyone with his skill and technique.  Not to be outdone, CGS' Liz Eicholtz also took to the waves and showed us all how good she is at balancing not only credit scores but the waves too!

"This was a great conference!  With all the changes in the new regulations and SOPs coming down the road, it was critical that we keep up to date and informed with all the new policies and procedures", said Gary Griffin.

CAPITAL GROWTH SOLUTIONS

6650 East Brainerd Road, Suite 212

Chattanooga, TN  37421

423-475-5700

email:  info@capgs.com

http://www.capgs.com/

Capital Growth Solutions Helps Couple Purchase the Southern Belle Riverboat with a Small Business Administration Loan

The Reinert Group Wanted to Buy a Riverboat. With the Help of Community National Bank and Capital Growth Solutions...They DID!

General Manager Joy Reinert has been working on the Southern Belle Riverboat since 1986. 
Today, Joy and her husband Joe own that same Riverboat.

The Reinert Group purchased the Southern Belle with a US Small Business Administration 7(a) loan through the combined efforts of Capital Growth Solutions (“CGS”) and Community National Bank (“CNB”).

CGS submitted the $2.3 million loan application on behalf of CNB to the SBA on May 25, 2011.  The loan was approved by SBA on 6/1/11 and the loan closing took place 9 days later on 6/10/1.  This was a standard 7(a) loan with a 75% SBA guarantee.

(Left to Right)  Gabe Thomas, Community National Bank; Greg Yeoman, Capital Growth;  Joy Reinert,  Joe Reinert, The Reinert Group;  Gary Griffin, Capital Growth; and Stephen Still, Community National Bank.

"The amazing fact is this loan was processed, approved and closed so quickly," said CGS President Gary Griffin.  "We all contributed to get this done in time for the Riverbend Festival.  The boat is docked on the Tennessee River right in the middle of the Festival site and was a tremendous source of revenue for this venture.”  Griffin further stated, “It just had to get done, and we did it!"

CAPITAL GROWTH SOLUTIONS

6650 East Brainerd Road, Suite 212

Chattanooga, TN  37421

423-475-5700

email:  info@capgs.com

http://www.capgs.com/

Capital Growth Solutions Welcomes 2 New Employees

Capital Growth Solutions ("CGS") expands to better serve the small business community with the addition of two employees:  Reed Fransley and Andrew Anderson.

CGS welcomes enthusiastic new employees

Reed began working with CGS in December 1, 2010 as an Assistant Vice President of Loan Servicing.  Reed graduated from University of Tennessee, Knoxville in 2009 with a degree in Language World Business with a concentration on Spanish.  Reed studied abroad in 2007 in Madrid, Spain and in 2006 he attended the Universidad de Guanajuato in Mexico.  "Reed is in training to be the servicing and liquidation department head," said Hope Howell, VP of Loan Servicing and Liquidation, "he will walk into my shoes in 2 years when I retire."

"Times indicate that a bilingual employee will be extememly beneficial to our Company," Ms. Howell commented.  In keeping with this thought, both Reed and Andrew are bilingual at an intermediate/advanced level in Spanish.

CGS's most recent addition is Andrew Anderson who joined Capital Growth Solutions in April of this year.  Andrew is the Assistant Credit Officer under the direct supervision of Liz Eicholtz the Chief Credit Officer.  Andrew graduated from the University of Tennessee at Chattanooga with a B.S. in Finance in 2009. Additionally, Andrew received an Advanced Spanish Certification through the Andean Global Studies organization while studying in Ecuador for six months. "His finance background combined with his Spanish language skills made Andrew a stand-out employee prospect", says Gary Griffin, President and CEO of Capital Growth Solutions.

 

Per Liz Eicholtz, "Andrew will assist the credit department with all functions.  He will be responsible for loan submission to SBA and follow-up until approval is received.  He will coordinate receipt of documentation from borrowers and banks, aid in pre-screening prospective loan requests and aid in the formal underwriting process."

Capital Growth Solutions continues to grow to better serve the Community's needs.  We welcome Reed and Andrew to the team!

CAPITAL GROWTH SOLUTIONS

6650 East Brainerd Road, Suite 212

Chattanooga, TN  37421

423-475-5700

email:  info@capgs.com

http://www.capgs.com/