Small-business loan specialist widens net

CNY Business Journal (1996+), Oct 03, 2003 by Dickinson, Casey J

SYRACUSE - Former Valley National Bank business-development specialist Daniel Lent has linked up with a non-bank to continue his work in small-business lending. Lent has taken a position as New York representative for Small Business Loan Source, Inc. (SBLS), a Houston-based, non-bank SBA lender. New Jersey-based Valley eliminated its SBA-loan division in June, choosing to concentrate on its core Tri-State market. A banker since 1987, Lent joined Valley in 1998. Over the past five years, he has helped more than 50 Central New York small businesses secure approximately $50 million in Small Business Administrationbacked 7(a) loans.

"Every one of those loans went to a small business," he says.

Lent had spoken with other area banks before taking the SBLS position, he says. The SBLS job allowed him to continue working in the part of banking he enjoys most.

"I enjoy the origination and the sales side," says Lent.

SBLS offers short turn-around times for its SBA loans.

"Time is money; SBLS can meet just about any deadline," says Lent. "The company knows what it means to be self em ployed."

Lent's business operates largely on a system of referrals, he explains. A large network that includes attorneys, accountants, salespeople, past clients, brokers, and realestate agents feeds Lent the names of potential SBA-loan customers. He follows up on the tips and helps his clients navigate the SBA 7(a) loan process. The loan program offers small businesses up to $2 million.

His new position offers Lent not only the opportunity to do business in Central New York, but also anywhere in the nation if that's where the referrals take him. SBLS does business in all 50 states.

"If I get a referral in Chicago," he explains, "I can follow up on it, but I'll be concentrating on Central New York."

Lent's business requires him to travel extensively, so he keeps connected with a laptop computer and wireless phone. SBLS has provided him with a new toll-free telephone number that "follows" him to whichever number he's currently using.

Valley National Bank made many small-business loans of less than $50,000, while Lent's new lender has a higher minimum-loan amount. SBLS handles loans ranging from $200,000 to $2 million. Privately held SBLS is ranked number 19 of the nation's top SBA lenders. Last year, its 14 business-development officers made $ 100 million in loans.