Posts by Coleman Report

How to Prepare the SBA Credit Memo Under the SBA SOP 50 10 5 (K) Home Speakers Agenda Registration SBA 7(a) Credit-Memo Update: Ensure You Comply with New 2018 SOP 50 10 5 (K) — 75 minutes of Online Training for your staff A Coleman Webinar Date: Wednesday, June 12, 2019 Time: 2:00 p.m. Eastern…

January 9, 2018 By Bob Coleman Editor, Coleman Report Special Edition Special Fraud Friday Tuesday Edition — Nik Patel Arrested Fleeing US in Chartered Jet Facing over 20 years in prison at a sentencing hearing originally scheduled for today, USDA Business & Industry loan $179 million fraudster Nik Patel got the bright idea to skip…

January 8, 2018 2017 SBA “BDO of the Year” Recognition and SBA BDO Program Announced! Are you a high performing SBA Business Development professional or know someone who is? This is the perfect opportunity to be recognized for your individual achievements or to nominate one of your peers. The Coleman Report, together with Government Loan…

January 8, 2018 By Bob Coleman Editor, Main Street Monday Main Street Monday — Sole Proprietor Income Up, Loan Defaults Down Says SBA’s Office of Advocacy. I love charts and stats, so enjoy! Sole Proprietor’s Income Proprietors’ income, the yields for running small businesses (excluding corporations), has steadily risen over the last 7 years. Small…

January 5, 2018 By Bob Coleman Editor, Fraud Friday Fraud Friday — Bank VP Photoshops Docs for Loan Fraud An Eastern Kentucky banker, Martin Ross, used fake names and documentation to obtain fraudulent loans that he would then use to pay his personal debts and expenses. Over the past ten years Martin obtained 15 fraudulent…

January 2, 2018 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Managing SBA Loan Service Providers and Loan Brokers a Serious Management Challenge for 2018 Says SBA’s Inspector General in its FY 2018 annual report to SBA management. Writes the OIG: Increased Risk Introduced by Loan Agents Prior OIG audits…

December 29, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — 12 Years in Jail for Sports Memorabilia Fraudster Years of charismatic lying to get people, and banks, to part with their money and give it to him finally caught up with 44-year old John Rogers in a Chicago courtroom last week. The judge…

December 27, 2017 Coleman’s C-Suite Report– Subway Franchisees Closing Stores Amid Sales Decline Subway is in trouble says Business Insider’s Kate Taylor. Bloomberg Stats US Stores Closed 2017 — 909, down to 25,835 2016 Sales — down 1.7% Foot Traffic — off 25% in the last five years Reports the New York Post In a…

December 22, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Mark Feathers Guilty of Fraud The former owner of one of the 14 non-bank SBA lending licenses pled guilty to one count of mail fraud on Wednesday. The remaining 28 counts of fraud are dismissed by the Feds. Sentencing is scheduled for March…

December 21, 2017 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — John Shen Accepts Coleman SBA 504 Lender of the Year Award Coleman: Congratulations on being named Coleman SBA 504 Lender of the Year! “I am flattered and honored. I know this award is one of the highest honors for…