SBA Announces The Jody C. Raskind Lender of the Year Award
December 17, 2015
From the Small Business Administration
Portal for National Small Business Week Awards Is Now Open
To All OEO Lenders:
During National Small Business Week, traditionally held the 1st week of May, SBA honors small business owners and entrepreneurs for their outstanding achievements through various awards. This year, SBA will award The Jody C. Raskind Lender of the Year Award to a mission-focused lender (mission lender) that has demonstrated extraordinary commitment to the creation, growth and expansion of small businesses in underserved markets with a demonstrable impact on the communities it serves.
Additional information on Small Business Week Awards and required forms can be found at: https://nationalsmallbusinessweek.sba.gov/user.
Who is eligible to be nominated for this award?
To qualify, the mission lender must be a participant in two or more of the following economic development loan or grant programs: SBA’s Microloan Program, Community Advantage Program, CDC/504 Loan Program, Intermediary Lending Pilot Program (ILPP,) and/or PRIME. Alternatively, the Mission Lender could be a participant in one of these programs and be a Department of Treasury-certified Community Development Financial Institutions (CDFI).
Additionally, the Mission Lender must have made a minimum of 10 loans in either, or some combination of, the SBA Microloan, ILPP or Community Advantage Loan Programs during the fiscal year. Having met the minimum criteria, the award will be based upon the number of loans made and the relative impact the particular Mission Lender has had on the communities it serves based on the judgment of the reviewing panel.
All lenders that have met the minimum requirements for consideration for the award will be asked to submit a model exemplary transaction and/or interaction with a small business(s) they have served during the fiscal year which they feel best epitomizes their organization’s mission, goals and community served.
Who may submit nominations for this award?
Any individual or organization dedicated to the support of the small business community in the United States, including, but not limited to, trade and professional associations and business organizations, may submit nominations for the Jody C. Raskind Lender of the Year award. Lending institutions may self-nominate. SBA employees may help to solicit nominations, but they cannot submit nominations on behalf of the nominee.
Where are the nominations to be sent?
Nominations must be submitted via email to OEO@sba.gov.
What is the deadline for nominations?
All nominations for Jody C. Raskind Lender of the Year Award must be emailed no later than 3:00pm ET, January 11, 2016.
What information must the nomination package contain?
All lenders that have met the minimum requirements for consideration for the award will be asked to submit a model exemplary transaction or interaction with a small business(s) they have served during the Fiscal Year which they feel best epitomizes their organization’s mission, goals and impact on its respective community.
1) A completed background form (SBA Form 3300, Award Nominee Background Form) - Available online: https://nationalsmallbusinessweek.sba.gov/sites/all/documents/SBA_3300.pdf
2) A completed nomination form (SBA Form 3313, Jody C. Raskind Lender of the Year) - Available online: https://nationalsmallbusinessweek.sba.gov/sites/all/documents/SBA_3313.pdf
3) An original 8” x 10” or 5” x 7” photo of the nominated Lender or a digital photo – at least 300 dpi is required; photocopies are not acceptable.
4) No more than 3 photographs or charts deemed significant by the nominator as evidence of the appropriateness of the nomination.
What are the evaluation/selection criteria for this award?
· Portfolio performance and OCRM Risk Rating;
· Satisfactory SBA compliance record; and
· Scoring/recommendation by SBA’s Underserved Market Coordinating Committee
· Number of loans approved/made
· The Mission Lender’s demonstrated commitment to the creation, growth and expansion of small businesses in underserved markets and their impact on the communities they serve based on the submitted narrative via the nomination form
[Important Note: Any lender making more than 25 loans in any combination of CA and Micro during FY 15 will receive points in this category. However, number of loans constitutes less than half of the score, so focus particular attention on telling “the Story” of your organization and the impact of your CA and/or microloan program in its best light as required in the narrative and related parts]
What are the selection procedures for this award?
SBA’s Underserved Market Coordinating Committee will utilize the descriptions provided by the Mission Lender/District Office, as well as data provided by SBA’s Office of Performance Systems Management and Office of Credit Risk Management, to provide a recommendation to SBA’s Office of Capital Access (OCA). SBA’s Administrator will make the final award decision based on, but not restricted to, the recommendation of the SBA’s Office of Capital Access.
We hope you will consider applying for this distinguished award!
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