Posts by Coleman Report
Main Street Monday — Leading the Fight for Transparency in Small Business Marketplace Lending
November 30, 2015 By Bob Coleman Editor, Main Street Monday Main Street Monday — Leading the Fight for Transparency in Small Business Marketplace Lending In 2009 Jim mortgaged nearly everything his family owned to join The Business Backer, and launch its mission to expand access to a much lower cost of capital for American small…
Read MoreThe Credit Elsewhere Test and the Physics of SBA Lending
November 25, 2015 By Walter McLaughlin Senior Vice President, Banner Bank Contributer The Credit Elsewhere Test and the Physics of SBA Lending As the holiday season approaches and In the wake of SBA’s record-breaking FY 2015, there are plenty of reasons to celebrate. 7(a) gross loan approvals totaled $23.6 billion, up nearly 23% over the…
Read MoreSBA Issues New SOP 5057 2 for SBA 7(a) Loan Servicing and Liquidation
By Bob Coleman Special Report SBA Issues New SOP 5057 2 for SBA 7(a) Loan Servicing and Liquidation Effective December 1 Prudent Liquidation – The term prudent liquidation is now defined in the definitions chapter of the SOP. This definition emphasizes that lenders must complete liquidation within either 24 months of the date of guaranty…
Read MoreSBA Issues New SBA 7(a) Servicing and Liquidation SOP Threatens Lender Enforcement Actions Effective December 1
Don’t Let the SBA’s New 7(a) Servicing & Liquidation SOP Threaten Your Loan Portfolio—Effective Dec. 1 Home Speakers Agenda Registration Introducing “How to Safely Comply with the New SBA SOP 50 57 2” webinar—lets your staff earn e-certification Date: Wednesday, January 13, 2016 2015 Time: 2:00 p.m. Eastern Download a Registration Form To avoid new…
Read MoreSBA Loan Default: Stop the Hemorrhaging, How to Monetize Inventory from Workout through Liquidation
By Ben T. Nicholson Fortis Business Advisors Guest Contributor SBA Loan Default: Stop the Hemorrhaging, How to Monetize Inventory from Workout through Liquidation Borrowers of SBA loans default from time to time. As a result, under the guidelines of SBA SOP 50 57, lenders have 60 days from the start of negotiation to execute an…
Read MoreMain Street Monday — 76% Disapprove of Pending CFPB Minority-Status Small Business Lending Regs
November 23, 2015 By Bob Coleman Editor, Main Street Monday Main Street Monday — 76% Disapprove of Pending CFPB Minority-Status Small Business Lending Regs Thus, 24% approve of the Consumer Finance Protection Board’s pending minority-status data collection requirements by small business lenders. Sixty readers responded to my simple poll question of, “Is this a good…
Read MoreFraud Friday — CPA Pleads Guilty for Issuing Fake Audited Financial Statements
November 20, 2015 By Bob Coleman Editor, Fraud Friday CPA Marc Wieselthier issued audited financial statements for a Florida-based cosmetics firm that was relied upon by two banks for an asset-based credit line. The banks, and U.S. Attorney Preet Bharara, were shocked to learn Marc fraudulently inflated sales and accounts receivable. Borrowing base certifications were…
Read MoreColeman’s Movers and Shakers — Kurt Chilcott Named to NADCO Hall of Fame
November 19, 2015 By Bob Coleman Editor, Coleman’s Movers and Shakers Coleman’s Movers and Shakers — Kurt Chilcott Named to NADCO Hall of Fame Kurt Chilcott Named to NADCO Hall of Fame Pictured here are Randy Griffin and Jim Baird presenting Kurt with his Hall of Fame award. Kurt was selected for the Hall by…
Read MoreC-Suite Wednesday — Applicant’s Minority Status Soon to be a Factor in Small Business Lending Underwriter Decisions
November 18, 2015 C-Suite Wednesday — Applicant’s Minority Status Soon to be a Factor in Small Business Lending Underwriter Decisions By Bob Coleman Editor, C-Suite Wednesday Five years after the passage of Dodd-Frank, the CFPB is moving closer to determine if minorities are receiving fair access to capital in the small business lending market. Future…
Read MoreSBA Hot Topic Tuesday — Main Street Demand for Capital to Increase 46% in Next Year
November 17, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Main Street Demand for Capital to Increase 46% in Next Year Bank of America’s Small Business Owner’s Report is a handy tool to brush up on need-to-know stats for small business lending professionals. It’s a slick presentation that reflects…
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