Posts by Coleman Report

February 22, 2016 By Bob Coleman Editor, Main Street Monday Main Street Monday — FY17 Budget Calls for $27 Billion SBA 7(a) Program President Obama’s fiscal year 2017 budget proposes increasing the SBA 7(a) loan program from $23 billion to $27 billion. The 2017 Budget continues upfront fee waivers on 7(a) loans up to $150,000…

February 19, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — SBA 7(a) Loan Borrower Gets 2 Years for Using Loan Proceeds to Buy a House Of course, Stewart Harris did more than that, but this is another criminal prosecution of an SBA loan borrower whose business failed under during the Great Recession. Remember,…

February 18, 2016 By Bob Coleman Editor, Coleman’s Movers and Shakers MYLES WALTERS JOINS SBA GROUP FOR UNION BANK BUSINESS BANKING “Myles is a strong addition to our growing team,” says Managing Director Didi Hakes. “With his SBA lending background and general financial industry experience, he will help enhance service for our valued clients and…

February 16, 2015 By Ben T. Nicholson President of Fortis Business Advisors Contributor SBA Hot Topic Tuesday — The Elements of a Workout Strategy in a Defaulted SBA Loan Borrowers of SBA loans default from time to time. As a result, if the borrower wants to resolve the delinquency, it is prudent for the lender…

February 12, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — BYL Small Business Finance to Purchase SEC Seized SBLC License Small Business Capital’s license seized by the SEC and feds several years ago is scheduled to be sold. The price? $1.2 million. Attached to the license is the loan portfolio which fetched 90%…

February 11, 2016 By Bob Coleman Editor, Coleman’s Movers and Shakers Coleman Movers and Shakers Thursday Western Pennsylvania Event Scheduled for May 23 & 24 Writes Dave Miller, “After 20 consecutive years of Quality Circle at Seven Springs Mountain Resort in March, our Western Pennsylvania Association of SBA Guaranteed Lenders board has decided to shake…

February 10, 2016 By Bob Coleman Editor, C-Suite Wedneday C-Suite Wednesday — NSBA Says 73% of Main Street’s Credit Needs Met From the NSBA 2015 Year-end Economic Report….. Although access to capital has improved for small firms—the number of small firms able to garner financing today is at its eight-year high of 73 percent—one-in-four small…

February 9, 2016 By Walter H. McLaughlin Senior Vice President, Banner Bank SBA Hot Topic Tuesday — SBA Express: A Winning Approach to Smaller Loans There is a common misconception that it takes as much time and effort to put together a $1 million deal as it does a $100,000 loan. Therefore, a number of…

By Bob Coleman Editor, Main Street Monday Main Street Monday — Small Business Lending Growth Stalls U.S. small business borrowing fell in December from a year earlier. “What started as a full gallop in 2015 is barely trotting along now,” said Bill Phelan, President of PayNet. “We are barely replacing worn-out assets here.” Small businesses…

February 3, 2016 Ron Feldman Chief Development Officer, FRANdata Even if you are not a sports fan, most of us have still heard the phrase, “Nothing but net!” at some point in time. If you are a die-hard sports fan like myself though, it immediately conjures up images of a calm, cool and collected NBA…