December 5 2019 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Stone Bank, Suzanna Caballero, and Elaine Fairman Stone Bank Recognized as Top Arkansas SBA Lender Stone Bank was recently recognized by the Arkansas Division of the U.S. Small Busines...
Read More →December 4, 2019 By Caity Witucki Contributing Editor, Coleman’s SBA Compliance Report Coleman’s SBA Compliance Report – SBA Recommends New Corrective Enforcement Actions for High-Risk Lenders According to SBA SOP 51 00, one of the objectives of on-site reviews is to ensure that lenders take p...
Read More →December 4, 2019 By Caity Witucki Contributing Editor, C-Suite Wednesday C-Suite Wednesday – Preparing SBA Loans for Immigrants and Non-U.S. Citizens Entrepreneurs are finding it increasingly important to seek out lenders who are properly aligned with their financial and professional goals. This i...
Read More →December 3, 2019 By Caity Witucki Contributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday – OCRM Fails to Perform Effective Oversight of High-Risk Lenders On November 12, 2019, the SBA OIG released a report which presented the results of an audit of the SBA’s oversight of high-risk lend...
Read More →December 2, 2019 By Mary Miller Contributing Editor, Main Street Monday Main Street Monday – SBA Reports Impressive Lending Stats for African American Women-Owned Businesses in 2019 Since its inception, the SBA 7(a) Lending Program has approved 1,412 loans, totaling $334.1 million, to African Amer...
Read More →November 29, 2019 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday– New Haven County Credit Union CEO Sentenced for Bank Fraud Former CEO of New Haven County Credit Union, James Farrell, was recently charged with $602,909 dollars worth of bank fraud. As a result of the fraud scheme,...
Read More →November 27, 2019 By Caity Witucki Contributing Editor, C-Suite Wednesday C-Suite Wednesday – Using ROBS Plans for SBA Financing Rollovers as business start-ups (ROBS) are arrangements in which current or prospective business owners use their 401(k), IRA or other retirement funds to pay for new bu...
Read More →November 27, 2019 By Caity Witucki Contributing Editor, Coleman’s SBA Compliance Report Coleman’s SBA Compliance Report – Know the New Form 159 Rules The new SBA Form 159, Fee Disclosure and Compensation Agreement – which was released on September 14, 2018 – changes the way lending...
Read More →NEW COLEMAN/DRDA WEBINAR FOR SBA LENDERS Using ROBS Plans for SBA Financing in 2020 Home Speakers Agenda Registration What is the “ROBS” Issue? — a 75-minute webinar that allows your staff to earn e-certification. A Coleman/DRDA Webinar Date: Tuesday December 10, 2019 Time: 2:...
Read More →November 26, 2019 By Caity Witucki Contributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Annual Service Fee and Upfront Guaranty Fee for 7(a) Loans The SBA has released a notice announcing the annual service fee and upfront guaranty fee for all 7(a) loans approved during the period co...
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