Posts by Coleman Report

June 29, 2022 Delaney SextonContributing Editor C-Suite Wednesday – 50% of Small Businesses Have Taken Out a Loan Due to Inflation “Historic inflation is top-of-mind and deeply troubling to small businesses right now,” says U.S. Chamber of Commerce Vice President of Small Business Policy Tom Sullivan. “But at the same time, there is confidence among…

June 28, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – New SBA Rule Increases Small Business Eligibility The SBA issued a final rule adopting changes to small business size standards calculations and will become effective on July 6, 2022. The period for calculating employee-based size standards doubled from 12 months to a 24-month trailing…

June 24. 2022 Delaney SextonContributing Editor Fraud Friday – U.S. Postal Service Employees Charged for Loan Fraud and Unemployment Benefits Fraud “Thousands of Illinois residents and small businesses were forced to rely on unemployment benefits and loans from the SBA during the height of the pandemic,” Attorney General Kwame Raoul says. “Thieves who intentionally took…

June 23, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – John Shen and Stella Zhang, Ketan Patel, Marcus Poole, and Shay Barkley Innovation Leader John Shen Joins President Biden at White House Bill Signing National business leader John Shen attended the official signing of the Commission to Study the Potential Creation of a National…

June 22, 2022 Delaney SextonContributing Editor C-Suite Wednesday – 65% of Small Business Owners are Not Interested in a Loan Says NFIB “To combat inflation, the Federal Reserve will rapidly raise interest rates to slow spending. The prime rate of interest hit 20% during the last big inflation fight over 40 years ago. For this…

A 75 minute video webinar your staff can participate in.A Coleman WebinarDate: Wednesday, July 6, 2022Time: 2:00 p.m. EasternDownload a Registration Form SBA loan closer failure to collect all borrower underlying debt refinance paperwork risks annulment of your SBA 7(a) loan guaranty. One lender lost $850,000 in a August 2016 SBA Inspector General review for…

June 21, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Lending to Underserved Markets Improves in 7(a) and 504 Programs The 504 program continues its trajectory of record-breaking lending levels with $6.8 billion being approved as of June 10, 2022. There is an over 32% increase in the dollar approval amount for the 504…

June 17, 2022 Delaney SextonContributing Editor Fraud Friday – Woman Arrested for Using Deceased Infant’s Identity in $1.5 Million PPP Fraud Earlier this month, Ava Misseldine was charged with passport fraud, Social Security number fraud, aggravated identity theft, and fraud in connection to an emergency. The criminal complaint claims that she applied for 16 PPP…

What you Need to Know About Documenting Collateral, Business, and Life Insurance to Protect the SBA Guaranty A 75 minute video webinar your staff can participate in.A Coleman WebinarDate: Wednesday, June 29, 2022Time: 2:00 p.m. EasternDownload a Registration Form Do you know SBA’s SOP referenced 15 different types of insurance SBA lenders must obtain? This…

June 16, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – Deepesh Jain, John Chung, Joe Moss, and Ed Goff Lili, a Banking App Built for Small Business Owners, Hires Deepesh Jain as CFO and COO “We are thrilled to welcome Deepesh, bringing a wealth of knowledge and experience to the executive team. We built…