July 10, 2014
By Bob Coleman
Editor, Coleman Report
Bob Holguin Named Nevada SBA District Director
Says SBA regional administrator Donna Davis, “I look forward to Bob’s significant contributions and solid leadership as he continues to serve the SBA and Nevada as the district director. As a previous entrepreneur himself, Bob will be a strong advocate for Nevada’s small business community, and his expertise in SBA programs and finance will greatly benefit the state’s entrepreneurs.”
Bob says, “”I am honored to take the helm of the U.S. Small Business Administration’s Nevada District Office. I am proud of our Nevada team of dedicated and expert professionals and respect their passion for helping small businesses throughout the state. I look forward to working with our resource partners and community leaders to expand outreach in underserved communities, and to bring more tools and resources to our veterans.”
Kale Gaston Named TD Bank SBA Head
“Kale’s SBA lending knowledge and leadership, coupled with his personal experience as a small business owner, will prove to be great assets to our team as we continue to help small business customers achieve their entrepreneurial goals,” says Jay DesMarteau, head of small business banking distribution for TD Bank.
Prior to joining TD Bank, Kale worked as regional sales manager for Wells Fargo’s SBA Lending Group, where he was responsible for growing loan production in and around the Carolinas and Mid-Atlantic region.
“We are fortunate to have someone of Maria’s extensive finance background as well as being bilingual in the Arizona market. Maria brings U.S. Bank a strong presence, having worked in the Arizona market for many years. We are thrilled to have her join the SBA team.” says Cynthia Mazzetta, senior vice president and central regional manager for U.S. Bank’s SBA Division.
Raymond Dugdale Named Vice President of Optima Bank
Dugdale has more than 30 years of experience in commercial banking in New England working with small businesses, real estate purchases and refinances and SBA lending programs.
Raymond W. Dugdale has joined Optima Bank & Trust as a vice president and commercial loan officer in the Dover loan office.
Newtek Extends its Capital One Credit Facility
Newtek Business Services aka The Small Business Authority, announced it has entered into a $20 million credit agreement with Capital One, N.A., which consists of a $10 million term loan and a $10 million revolving credit facility. This is in addition to the current $27 million financing line from Capital One which Newtek uses exclusively for its small business lending business and brings the Company’s total financing through Capital One to $47 million.
Barry Sloane, Newtek’s Chairman, President and Chief Executive Officer says, “We are extremely pleased to enter into this new agreement, expanding our existing relationship with Capital One, as well as reducing our overall cost of capital. That said, we are also grateful for the capital that Summit provided to us in April 2012, which played an integral role in the Company’s growth. Specifically, it significantly contributed to the 83% growth in our lending platform from $97.1 million in loan originations in 2011 to $177.9 million in loan originations in 2013. Furthermore, it enabled us to increase our consolidated pretax income practically fivefold from $2.0 million in 2011 to $11.1 million in 2013. In 2014, we anticipate continuing this upward trajectory of growth in both loan originations and pretax income.”
Upcoming Small Business Lending Conferences
Great Lakes Lenders Conference, Detroit, July 31 – August 1
Florida Small Business Lenders Conference, Orlando, September 17-19
ASBDC Annual Conference, Grapevine, TX September 9-12, 2014
Innovative Finance Delivery for Small Business Las Vegas September 23-24
NAGGL 2014 Annual Meeting, Huntington Beach October 28-30
American Banker/RMA Small Business Banking Conference, Miami November 19-21
Coleman’s 7th Annual SBA Secondary Market Forum, Washington D.C. December 2
Coleman’s 15th Annual Rural Lender’s Roundtable, Washington D.C. December 3