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Coleman’s Movers and Shakers — Grady Hedgspeth Joins CFPB

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April 14, 2016

By Bob Coleman
Editor, Coleman’s Movers and Shakers

Coleman’s Movers and Shakers — Grady Hedgspeth Joins CFPB

Grady Hedgespeth is joining the CFPB as the Assistant Director for the Office of Small Business Lending Markets. Prior to joining the Bureau, Mr. Hedgespeth served as the Director of the Office of Economic Opportunity for the U.S. Small Business Administration. Mr. Hedgespeth originally joined the Small Business Administration in 2007 as the Director of the Office of Financial Assistance where he oversaw the agency’s business lending programs. Before working in government, Mr. Hedgespeth led two different national small business community development financial institution lenders and created several businesses focused on underserved markets at some of the nation’s largest banks.

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If you have a portfolio of SBA 504 loans you want to sell — Check out this Offering by Clark Street Capital

Clark Street Capital, the 504 Secondary Market leader, is gearing up an SBA 504 offering in the second quarter. Does your financial institution want to participate as a seller in 2016’s largest sale of 504 loans? Whether you have one single or two dozen loans, you can join this highly anticipated event. By joining with other financial institutions in selling loans in this unique offering, your bank can achieve:

  • Economies of scale, by being able to contribute a few loans to a larger portfolio with critical mass
  • Marketing clout, by participating in a widely-promoted event
  • Buyers’ attention to a large, diverse portfolio that maximizes execution
  • Redeploying capital to align with current balance sheet strategies
  • Attractive premiums via Clark Street’s innovative sales approach

Already, several institutions have signed up with over $30MM in loans committed to date!
Loan Characteristics

Eligible loans must have the following characteristics:

  • Performing
  • SBA 504 1st mortgage / 1st DOT
  • All property types
  • Fully-advanced loans

Timeline

Event Date
Submission Deadline Friday, April 29, 2016
Loan Sale Announcement Tuesday, May 10, 2016
Indicative Bid Date Tuesday, June 7, 2016
Closing Date Wednesday, June 29, 2016

About Clark Street Capital

Clark Street Capital is a full-service bank advisory and asset disposition firm specializing in loan sales, loan due diligence and valuation, and wholesale lending. For more information, please contact Jon Winick at 312-662-1500, or via email at jon.winick@clarkstcapital.com.

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Unity Bank Promotes Kathleen Hay to Vice President/ SBA Business Development Executive

“Kathleen has more than 12 years of SBA experience and she has helped Unity become one of the top SBA lenders in New Jersey,” says Unity Bank President & CEO James A. Hughes. “With an extensive background in lending at community, regional and national banks, she provides customers with valuable guidance throughout the finance process. Kathleen’s promotion is well deserved and we wish her continued success in serving clients throughout New Jersey and eastern Pennsylvania. ”

Kathleen joined Unity Bank in 2011 and has served as Assistant Vice President/Commercial Loan Closer and Vice President/Loan Closing Manager for the bank’s growing Small Business Administration (SBA) lending program.

C. Han Kim Joins Plumas Bank as Vice President

Mr. Kim will primarily cover the Washington and Oregon markets. In addition, he is able to make SBA loans in California, Nevada and Arizona. His primary focus will be marketing, originating and closing SBA 7a and 504 loans.

Mr. Kim brings a vast amount of experience to the business having been in commercial banking for over 25 years. He started his career at Security Pacific Bank as a consumer lender at a branch. Throughout his various stages of his career, he has worked in international banking, credit administration, commercial banking, commercial real estate lending as well as in executive leadership and management positions.

Although Mr. Kim has been engaged in many areas of banking, he particularly enjoys assisting entrepreneurs with the SBA program. He personally finds it fulfilling to help business owners realize their financial objectives as well as their dreams.

Calendar

NAGGL SBA Lending Technical Conference, May 2-4, St. Louis

Washington SBA Lender Seminar, May 4, Seattle

NADCO Spring Summit, May 22-25, Arlington, VA

Western Pennsylvania, May 23-24, Nemacolin Woodlands Resort, PA

America East, August 24-26, Philadelphia

America’s SBDC, September 19-22, Orlando

FLAGGL 2016, September 21-23, Orlando

LEND360, October 5-7, Chicago

NAGGL Annual Meeting, October 31-November 2, Scottsdale

NADCO Annual Meeting, November 7-10, San Francisco

Ninth Annual Secondary Market Summit, December 5-6, Washington D.C.

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