You can see which hotels have available rooms anywhere in America with just a few clicks. But if you’re a business owner searching for capital, there’s no similar tool showing which lenders might say yes. That information gap, says Bryan Doxford, President of the Grow America Fund, is exactly why referral partnerships matter.
For years, Grow America has operated a Second Look Program that serves as a bridge between banks and credit unions and would-be small business borrowers. We sat down with Bryan to discuss how the program works, why it creates wins for everyone involved, and where he sees the biggest opportunities ahead.
What was the catalyst for launching the Second Look Program?
Honestly, this has been part of my DNA for 20 years. It’s how I won deals in my first job in finance. I was working at one bank, yet one of my best “customers” was actually a much larger competing bank. We were in completely different organizations, but we both focused on helping business owners. When we worked together on that shared mission, things clicked.
I’ve sought to bring the value of partnerships to every situation since those early days. At Grow America, the stars have aligned, because what I believe personally is what Grow America does intuitively.
I routinely use this analogy: We can all see which hotels have an open room anywhere in America with just a few clicks. Access to that information is immediate, transparent, and frictionless.
Business owners, however, cannot easily see which lenders are actively lending in their market or which ones are lending to companies like theirs. Instead of transparency, they face guesswork, closed doors, and inconsistent signals from the market.
In the absence of a true “there’s an app for that” solution, partnerships have been and remain the answer. Through trusted partnerships, business owners are guided to capital, often by the bankers they already know and trust.
Walk us through the actual Second Look process. When a lender refers a deal to Grow America, what happens next?
Most of the time we’re being introduced to a request before a formal lending decision has been made. The deal will be flagged as not being the right fit for the original lender, but it’s still seen as viable. The lender doesn’t want to lose the relationship, so they have the “it’s not you, it’s me” conversation with the customer and let them know that we’re a partner who can help.
Once the referral is made, our technology makes it seamless for everyone. Partners can see where their referral is in the process, and borrowers can easily track their progress and submit documentation. Technology keeps everyone connected, but we also build that critical human connection with the borrower.
There are lots of CDFI Second Look programs out there. What makes Grow America’s program unique?
Most CDFIs don’t offer SBA loans. Those that do typically have caps on how high they can go, which is generally $350,000. Grow America can lend up to the $5 million SBA 7(a) program maximum. Also, we lend coast-to-coast, so partners with a wide geographical footprint can refer to a single partner regardless of where their client is located.
Our certainty of follow-through also sets us apart. We know the SBA 7(a) program extremely well, so when we say we can get a deal done, partners have confidence that we’ll deliver. And we can determine early in the process whether we can get a deal done, which saves time for everyone involved.
Where do you see the biggest untapped opportunity for Second Look deals?
We see two major areas of opportunity: business acquisitions and what we call “but for” deals: those on the margins of a bank’s credit box.
“But for” deals are deals that would meet traditional lender requirements “but for” one or two factors. For example, the business might not meet collateral requirements but otherwise passes every test. Or there are credit issues that have a solid explanation, such as those caused by medical debt or unforeseen life events. These are strong businesses with strong owners who just don’t fit perfectly into the conventional credit box.
The other area is business acquisitions. We’re at the beginning of what’s being referred to as the Silver Tsunami, or the wave of Boomer business owners who will be retiring, and their businesses will be bought by other entrepreneurs.
Traditional lenders typically view acquisitions as startup deals, and many business buyers won’t qualify for traditional loans because of this. Our ability to lend to strong businesses who fall outside the margins of bank requirements makes us particularly well-suited for business acquisition loans.
We’re working diligently to make sure partners know they can trust us with these types of deals.
What do you hear from bankers about why they choose to refer deals to Grow America rather than simply turning the borrower away?
Bankers tell us they refer deals to Grow America because it allows them to keep the relationship intact while still helping the customer move forward. Rather than simply turning a borrower away, they can offer a constructive next step and a path to capital.
Just as important, it preserves the long-term relationship. When the business is ready to refinance or return to a traditional bank product, that banker is often in the best position to say “yes.” The referral is less about passing on a deal and more about supporting the customer today while creating opportunity for the future.
What’s your favorite Second Look success story?
It feels hard to single out one story. For me, my favorite story tends to be the most recently closed deal. It feels fresh and exciting, and every new closing is a great reminder of the power of this offering.
But my favorite part of every successful second look is the same: it’s the win-win-win we’re able to create. The business owners win by obtaining capital to help them grow their company. The second look partner wins when they keep the deposit relationship and the door open to a continued relationship. And we win at Grow America by delivering on our mission and strengthening our partnerships.
What does success look like for the Second Look Program in 2026?
More partners. More funded applications. More triple win outcomes. Specific to businesses, success looks like growth. Growth is really just another word for more—more opportunities, more capital deployed, more businesses thriving. That’s what we’re building toward.
Learn more about how Grow America works with bank partners or contact us to become a partner.