Coleman Report
Fraud Friday — Ex-CEO of Farmers Bank Accused of Fraud
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…
Read MoreColeman Movers & Shakers — Kerri Nelson, Robert Piechota, and Matthew Burns
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…
Read MoreSBA C-Suite Tips Wednesday — Properly Document Equity Injections
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…
Read MoreUse the USDA B&I Loan Program to Add Quality Rural Small Business Loans to your Portfolio
Use the USDA B&I Loan Program to Add Quality Rural Small Business Loans to your Portfolio Home Speakers Agenda Registration Introducing USDA B&I Loan Boot Camp — New Rural Small Business Loan Program Rules can Help add Millions of Dollars of Excellent Performing, High Yield Assets to your Balance Sheet. Date: Tuesday, November 19, 2019…
Read MoreSBA Hot Topic Tuesday — US Court of Federal Claims Clarifies SBA Size Determination Methodology
September 17, 2019 By Caity Witucki Contributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — US Court of Federal Claims Clarifies SBA Size Determination Methodology A recent decision from the U.S. Court of Federal Claims clarifies that companies filing for small business size determinations must properly apply the SBA’s detailed circulation methodology for…
Read MoreMain Street Monday – Score’s Fall 2019 “Megaphone of Main Street” Highlights Challenges Facing Start-Ups
September 16, 2019 By Mary Miller Contributing Editor, Main Street Monday Main Street Monday – Score’s Fall 2019 “Megaphone of Main Street” Highlights Challenges Facing Start-Ups The challenges faced by start-ups, companies in business for less than one year, are the focus of Score’s “Megaphone of Main Street” this fall. A snapshot into findings taken…
Read MoreFraud Friday – banc-serv Second Loan Case Study
September 13, 2019 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday – banc-serv Second Loan Case Study This article is the second in a series of articles detailing each fraudulent loan listed on the Kerri Agee indictment. In October 2007, a banc-serv employee allegedly prepared an SBA 7(a) loan application on behalf of an…
Read MoreColeman Movers & Shakers — Sal Gomez, Sharon Harvey, and Amanda Aaron
September 12, 2019 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Sal Gomez, Sharon Harvey, and Amanda Aaron VelocitySBA Hires Sal Gomez as New Business Relationship Manager VelocitySBA – a national small business lending firm – welcomes Sal Gomez as the new VP and Business Relationship Manager. Gomez has…
Read MoreSBA C-Suite Tips Wednesday — Assume the Credit Memo Reader is SBA’s Inspector General
September 11, 2019 By Caity Witucki Contributing Editor, C-Suite Tips Wednesday SBA C-Suite Tips Wednesday — Assume the Credit Memo Reader is SBA’s Inspector General The number one reason that the SBA denies a guaranty is the lender’s failure to properly document the borrower’s eligibility in the credit memorandum. Therefore, it is crucial for lenders…
Read MoreSBA Hot Topic Tuesday — Third Generation SBA Lender
September 10, 2019 By Caity Witucki Contributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Third Generation SBA Lender Derrick Burge, who is learning the SBA program presently, will be the third generation in his family to work in the Small Business lending industry. He is currently studying economics at Ivy Tech in…
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