Posts by Coleman Report

Coleman’s 7th Annual Gas Station/C-Store SBA Financing Webinar Home Speakers Agenda Registration Gain Expertise to Build a Quality SBA 7(a) Gas Station Loan Portfolio, Avoiding Losses and Repairs and Denials Special Tips for Obtaining SBA 504 Loan Approvals. A 75-minute webinar that lets staff earn e-certification. Date: Wednesday, December 11, 2019 Time: 2:00 p.m. Eastern…

November 20, 2019 By Caity Witucki Contributing Editor, C-Suite Wednesday C-Suite Wednesday – Congress Introduces New Continuing Resolution to Avoid Government Shutdown On September 27, 2019, President Donald Trump signed a seven-week continuing resolution bill which ensured that the SBA would remain open through November 21, 2019. With the deadline on the horizon, House lawmakers…

November 19, 2019 By Caity Witucki Contributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday – OCRM Identifies Material Deficiencies in 21 Defaulted Loans 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 lenders. Upon review, OCRM identified material deficiencies…

November 18, 2019 By Mary Miller Contributing Editor, Main Street Monday Main Street Monday – Reliant Funding Releases Comprehensive Guide for Women-Owned Businesses According to Guidant Financial, 40% of U.S. businesses are owned by women. Despite performing well, female small business owners face more struggles with obtaining financing than male owners. As a result, only…

November 15, 2019 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday– Business Man Pleads Guilty to Multi-Million Dollar Bank and Wire Fraud Scheme Former chief executive officer and businessman, Michael Allen Worley, recently pleaded guilty to more than $29 million dollars worth of bank and wire fraud. According to court filings, Worley is now…

November 14, 2019 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Valley Bank, Jack Engelkes, Tracy French, and First Internet Bank Valley Bank earns “Preferred Lender” designation Valley Bank has achieved the U.S. Small Business Administration’s “Preferred Lender” designation, giving the bank the ability to process SBA loans faster…

November 13, 2019 By Bob Coleman Editor, C-Suite Wednesday C-Suite Wednesday – Previous SBA Lending Award Winners The SBA Lending Award program highlights the careers and achievements of professionals who are making great strides in SBA lending. Nominations for Coleman’s 2019 SBA Lender Professional Awards have been extended to November 15, 2019. Our previous years’…

November 12, 2019 By Caity Witucki Contributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Change of Ownership Loans Up in FY 2020 According to Chief Executive Magazine, 80% of business owners want to pass their family businesses on to the next generation. However, many of those businesses would fail without additional funding.…

November 8, 2019 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday– Update on Noah Bank CEO Fraud Scheme SIGTARP’s latest report to Congress details the investigative results of twelve financial institution fraud schemes, including an update on the arrest of Noah Bank CEO, Edward Shin. The report claims that between 2009 and 2012 Shin…

November 7, 2019 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Dana Rosen, Erik Adams, and Cat Riddle Harvest Welcomes Dana Rosen as SVP for the Midwest Region Dana Rosen Joins Harvest as its newest SVP and loan officer for the Midwest region. Prior to joining Harvest, Rosen served…