Posts by Coleman Report

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 American women-owned businesses. Additionally, loans to African American women-owned businesses have…

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, Farrell is facing one day in…

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 business start-up costs, for business acquisition costs or to refinance…

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: 2:00 p.m. Eastern Go to Registration A ROBS (Rollover As Business Start…

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 covered by the continuing resolution.…

Know The SBA Requirements to Avoid Guaranty Errors with Business Acquisition Loans in 2020 Home Speakers Agenda Registration Tips to Navigate Tricky SBA Traps to Successfully Underwrite, Close and Service Biz Aq Loans with the SOP 5010 (K) — a 75-minute webinar that allows your staff to earn e-certification. A Coleman Webinar Date: Tuesday, December…

November 25, 2019 By Mary Miller Contributing Editor, Main Street Monday Main Street Monday – Main Street and SBA Celebrate Small Business Saturday This year, Main Street and the SBA are gearing up to celebrate the 10th annual Small Business Saturday on November 30th. In 2010, American Express kicked off Small Business Saturday, or “Shop…

November 22, 2019 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday– Park Avenue Bank Director Charged With $1.4 Million Bank Fraud Former director of Park Avenue Bank, Mendel Zilberberg, was recently charged with $1.4 million dollars worth of bank fraud. If found guilty, Zilberberg could be facing over 35 years in prison and will…

November 21, 2019 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Wayne Williams, Sara Vanhala, Zola Finch Wayne Williams Elected to NADCO Board of Directors On October 8, 2019, NADCO announced that Wayne Williams was elected to the 2019-2020 Board of Directors for Region 3. Wayne Williams is the…