The broker earns at close. The seller takes the proceeds and goes. You are left holding a note against a small business that has just lost the only person who knew how it ran. A trained VRA assistant documents the operating procedures and administers the back office through the handover, so the operation behind the loan keeps moving once everyone else has left the room.
I have no reservations about them communicating with clients with minimal to no oversight.Quinton Randel · Co-Founder & EVP Operations and Technology, EIDLexit
Historic cash flow is knowable. Whether the operation survives losing the person who ran it is a judgement, and it is usually the softest assumption in the file.
Not a promise about how a loan performs — a document where there previously wasn’t one, and a person still in the chair after the seller leaves.
How the business intakes, schedules, bills and chases, written down in a form somebody other than the seller can follow.
The same assistant works with the seller beforehand and continues with the buyer. The institutional memory does not all walk out at once.
Administration keeps running through the handover rather than stopping while the new owner learns where everything is.
Because the procedures belong to the business, a change of assistant is an inconvenience rather than a repeat of the same problem.
How and whether you raise it is entirely your call — we are not in the business of telling credit teams how to structure anything.
EIDLexit works with businesses on their SBA loan position. Their operations lead on what a VRA assistant turned out to be.
“I have no reservations about them communicating with clients with minimal to no oversight.”
Lending is a paperwork business before it is a credit business, and most of that paperwork is chasing.
No, and we would be suspicious of anyone who did. What we can say is that a business with written procedures and continuity of administration through the handover is in a better state than one without, and that transition risk is something credit teams already weigh. What follows from that is your judgement, not our claim.
The borrower or the seller, depending on when it starts. It is never billed to the lender, and we do not ask you to carry any part of it.
A flat $1,500 a month for full-time or $800 for part-time, on a three-month commitment. No hourly billing, no payroll, no benefits. The pricing page has the detail.
Every VRA assistant signs a confidentiality agreement and VRA will sign an NDA on request. Assistants work inside the systems the business already uses, under whatever access the owner grants.
Yes. VRA pays a referral fee when an introduction becomes a placement. Michael will walk you through the terms — and it is entirely optional, including whether it forms any part of the conversation with your borrower.
No. Assistants are trained as generalists and matched to the business, and the documentation work is the same whether the borrower is buying a restaurant, a contractor, a distributor or a professional practice.
The same work reads differently depending on where you sit. These are written separately for a reason.