Posts by Coleman Report

In the most chaotic months in banking since the Global Financial Crisis, the failures of SVB, Signature, and First Republic sent shockwaves through the financial markets. Regulators are turning their attention to CRE loans, which are disproportionately being made by smaller and mid-size banks. The Financial Stability Report from the Federal Reserve opined that “the…

June 2, 2023 Delaney SextonContributing Editor Fraud Friday – SBA Employee Jailed for $11 Million Fraud A former SBA employee, Lakeith Faulkner, admitted his guilt in an $11 million EIDL fraud scheme in December of 2022. Using his role at the SBA, he helped borrowers with the submission of fraudulent EIDL applications. In return, he…

Some of the August 1, 2023 changes that are important to lenders in the new SOP 50 57 3 include: The requirement for lenders to include an assignment of the 7(a) Loan Documents to SBA in the Wrap-up Report they submit. The need for prior SBA approval to sell a 7(a) Loan Note for less…

June 1, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Kelley Cheney, Robert Porter, Riley Williams, and Anthony Ter-Gevondyan Plumas Bank Promotes Three Top-Producing Team Members in SBA Lending Group “Both Kelley and Bob have been valuable members of the Plumas Bank SBA team for fifteen years and we are thrilled to announce their…

May 31, 2023 Bob ColemanPublisher With some calling the underwriting changes in SBA’s 7(a) loan program in the new SOP, PPP 3.0, I thought it would be appropriate to recap the Inspector General’s findings. The March 2023 white paper reports on the performance of the 7(a) loan program during the pandemic and addresses potential risks…

Site License includes access to our new Coleman Training Live Stream Webinar Tuesday, June 13 (Live Session)2:00 p.m. Eastern 75-minute training with e-certification Download a Registration Form One of the main challenges for lenders in franchise lending is ensuring compliance with the SBA affiliation rules. These rules define how the SBA determines whether a franchisee…

May 30, 2023 Bob ColemanPublisher As part of the PR cleanup SBA is undertaking after Congress’ recent bipartisan criticism SBA is canceling its cancellation of the loan authorization. Due to, “accommodating systems updates, for the 7(a) Loan Program only” lenders must reverse course and prepare authorizations beginning last Friday, May 26th. The notice is attached…

SBA OnDemand Ethics TrainingThe Ultimate Online Training program to help create a trustworthy and honest team 2 Hours of Online OnDemand Training8 to 12 minute segments $497 per seat Download Registration Form Are you looking to improve your team’s understanding of ethical behavior between your team and the U.S. Small Business Administration? Look no further…

May 26, 2023 Delaney SextonContributing Editor Fraud Friday – 100 PPP Applications and $13 Million Lead to Criminal Charges for a Tax Preparer “Fraudulent schemes like these defraud not only a program intended to help small businesses weather a global pandemic but also the United States’ taxpayers. The FBI will continue to ensure that anyone…

May 25, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Peter Siegel, Jim Hatch, Luke Williams, and Miriam Torres Baltys BayFirst National Bank Welcomes Peter Siegel as VP, SBA Lending Officer “Having served as a lender, broker, advisor and business owner, Peter brings an incredible level of knowledge to our team,” says BayFirst SVP,…