Posts by Coleman Report

July 24, 2023 Delaney SextonContributing Editor Main Street Monday – The Transportation Industry is at the Head of the Rise in Loan Delinquencies & Defaults Equifax’s July Commercial Strategic Insights found that small business lending across the nation increased 4.4 points or 3% in May. The Small Business Lending Index reading in May also showed…

July 21, 2023 Delaney SextonContributing Editor Fraud Friday – 14 Years Later, Former Bank Director Found Guilty of 5 Counts of Bank Fraud “Mendel Zilberberg, while working as a practicing lawyer and serving as a director of Park Avenue Bank, ignored his duties and took advantage of the bank, viewing it as the object of…

July 20, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – John Hanlon, Philip Converse, and Russell Skinner North State Bank Names John Hanlon as VP, SBA Business Development Officer “With three decades and counting working with small businesses, John is more than a lender; he’s a trusted wealth of expertise,” comments Marty Ferguson, Director…

Removing Defaulted and Unforgiven Loans From Your Books by September 30, 2023 Attend the Live Webinar EventWednesday, August 23, 2pm Eastern. Webinar Order Form The public spat between SBA and the Inspector General about how much fraud is in the PPP loan program ($36 billion? $200 billion)? has spilled over to Congress to referee. The…

July 19, 2023 Delaney SextonContributing Editor C-Suite Wednesday – 67% of Small Businesses Rely on Small & Regional Banks “Small business banking is a critical component of every small business,” says Holly Wade, Executive Director of NFIB’s Research Center. “Small business owners rely on their banks to help manage cash flow, expand their business, and receive…

July 18, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – 7(a) Lending Surpasses the Previous Four Years As of June 30, 2023, SBA has approved 40,637 7(a) loans, totaling $19.28 billion. $14 billion of the total dollar amount is the SBA guaranty amount. Compared to the same time last year, the 7(a) dollar amount…

July 17, 2023 Delaney SextonContributing Editor Main Street Monday – Borrowers are Paying the Highest Short Maturity Interest Rates Since June 2007 “All eyes are on the Federal Reserve, which has signaled that it might raise interest rates by half a point (50 basis points) by year end. Higher rates will discourage borrowing to finance…

July 14, 2023 Delaney SextonContributing Editor Fraud Friday – House Hearing Reveals $650 Billion in Likely Pandemic Fraud and “Swindler Barbie” “Given the drastically different figures in these reports, and the lack of an adequate plan to recoup these stolen taxpayer funds, we invited SBA Administrator Guzman to join us here today. But as you…

July 13, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Chris Jackson, Andrew Mort, and Yoon Saechao Countybank Hires Chris Jackson as SBA Division Manager Paul Pickhardt, who has been Countybank’s SBA Lending Manager for 6 years, expressed his excitement about Jackson joining Countybank, noting, “Chris is a great fit for this role as…

July 12, 2023 Delaney SextonContributing Editor C-Suite Wednesday – Updated SOP 50 10 7 To Be Published Before August 1 During the 7(a) Connect Quarterly update, SBA announced they will be publishing a technical update to the SOP 50 10 7 which will replace the first version. The updated version of the SOP 50 10…