Posts by Coleman Report

September 26, 2019 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Lee Kleinman, David Bagatelle, and Jon Ellis BFC CDC Welcomes Lee Kleinman as New Business Development Officer BFC has announced that Lee Kleinman will serve as its newest Business Development Officer. At BFC, Kleinman will focus on business…

September 26, 2019 (1:20pm ET) U.S. Senate Approves SBA Funding Through 11/21 – Bill Goes to President The U.S. Senate voted 82-15 today to approve government funding through November 21, 2019. The Bill must be signed by the President. The continuing resolution will ensure the SBA to remain open through November 21, 2019. The Bill…

September 25, 2019 By Janet Annan SBA Technical Director, Partner Engineering & Science Contributing Editor, C-Suite Tips Wednesday Navigating SBA Requirements for National Register of Historic Places (NHRP) Sites National historic sites are an attractive option for commercial real estate renovation and re-development. Older buildings, particularly in urban areas or previous industrial belts, are abundant…

September 24, 2019 By Caity Witucki Contributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday – Inappropriate Use of Delegated Authority Results in Recommended Guaranty Denial The SBA Inspector General recently evaluated a $1,970,000 7(a) loan used to purchase a business, refinance debt, and provide working capital. The Inspector General’s evaluation found that the…

September 23, 2019 By Mary Miller Contributing Editor, Main Street Monday Main Street Monday – Kabbage Small Business Revenue Index Predicts Double-Digit Revenue Gains According to the Kabbage Small Business Revenue Index, U.S. small businesses grew by 19.2% between January 2018 and January 2019. From Q1 2019 to Q2 2019 alone, the revenue growth rate…

September 20, 2019 By Bob Coleman Editor, Coleman Report BREAKING NEWS — No SBA Shutdown: Resolution to Pass Senate Next Week ATLANTA – At a fundraiser hosted by the Thomas USAF Group today, former Small Business Senate Chair and current Chair of the Senate Foreign Relations Committee, Idaho’s Jim Risch exclusively confirmed to the Coleman…

September 20, 2019 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday — Ex-CEO of Farmers Bank Accused of Fraud Aaron Johnson has stepped down as CEO of Farmers Bank amid allegations of fraud and a cease and desist consent order filed with the FDIC. The bank neither admits nor denies wrongdoing with the consent…

September 19, 2019 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Kerri Nelson, Robert Piechota, and Matthew Burns Evergreen Business Capital Promotes Kerri Nelson to Regional Loan Officer At Evergreen Business Capital, Kerri Nelson will serve as the new loan officer responsible for the southwest Washington region. Over the…

September 18, 2019 By Caity Witucki Contributing Editor, SBA C-Suite Tips Wednesday SBA C-Suite Tips Wednesday — Properly Document Equity Injections The number one reason for an SBA loan denial is failure to adequately document an equity injection. According to the SOP, “adequate equity is important to ensure the long-term survival of a business.” Not…