Posts by Coleman Report

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…

December 20, 2017 C-Suite Wednesday — The New Tax Bill is Good for Main Street! By Bob Coleman Editor, C-Suite Wednesday You all know about the bill; here are seven bullet points I’ve culled to help you understand how this affects Main Street, and your small business loan portfolio: 1) The small business 20% deduction…

December 19, 2017 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — SBA Expands “Credit Available Elsewhere” Guidance SBA issued a notice yesterday listing a slew of technical corrections for the SBA 5010 (J) that will be effective on January 1. An updated SOP was also issued with the technical corrections.…

December 15, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Borrower Pleads Guilty to $1.7 Million Fraud A Missouri small businessman sold his business for $2 million. United Community Bank loaned the buyers$1.7 million. The problem is Todd Rood, 46, falsified the financials. He claimed profits of over $500,000. Writes the Western District…

December 14, 2017 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — Live Oak Bank Announces 16th Lending Vertical — Automotive Care Industry. “The automotive industry is one of the largest in the U.S., yet owners of auto repair businesses may struggle to find financing options to help them grow or…

December 12, 2017 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Inspector General Claws Back $5 Million Paid to 6 Lenders in 2015 The $5 million is to be billed to six lenders that previously received payment from SBA honoring a 7(a) guaranty in FY 2015. One loan is the…

December 8, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Wisconsin Community Bank CEO Gets 2 Years in Jail for Fraud “Bank executives who intentionally falsify bank records to deceive regulators must be brought to justice for their actions,” says Mark Bialek, Inspector General of the Board of Governors of the Federal Reserve…

December 7, 2017 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — FLAGGL Announces New Officers and Board Members for FY 2018 “I am honored to have been elected as next year’s Chair,” says Deborah Petrell of Florida First Capital Finance “This is an exciting time to oversee the organization’s strategic…

December 7, 2017 By Bob Coleman Editor, Coleman Report The Farm Bill and Rural Small Business Lending  Congressman Sanford Bishop of Georgia addressed 70 rural development lenders this morning at the 2017 National Rural Lender’s Roundtable in Washington D.C. Getting capital to rural America’s Main Street is a passion of his.He praised the USDA rural…