Posts by Coleman Report

May 24, 2023 Delaney SextonContributing Editor C-Suite Wednesday – Applications Open in June for 3 New SBLC Licenses From June 1 to July 31, the Office of Capital Access will open the application period for new SBLC licenses. SBA will be excluding applications for Community Advantage SBLCs at this time. Once the application period closes,…

May 23, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Retirement is Advancing the Decline in Veteran Business Ownership “Many veterans choose business ownership. However, veteran business ownership is falling,” reads a report by the SBA Office of Advocacy. “As those owners age out of the workforce, the number of veteran firms is decreasing.…

May 19, 2023 Delaney SextonContributing Editor THIS JUST IN – Loan Authorization Removal is Delayed Until August 1st Yesterday evening, the SBA sent an email announcing the postponement of the Loan Authorization removal which will now be effective on August 1, 2023: “SBA is delaying the implementation of the sunset of the 7(a) Authorization procedures…

Joseph ColemanMay 19, 2023 To keep track of all of the current rule changes, we are providing an updated timeline with links and dates released. Please check-in for the latest releases. Small Business Lending Company Application Process May 22, 2023 SBA Loan Authorization Delayed (Email)May 18, 2023 Four Corners Letter To SBA May 16, 2023…

May 19, 2023 Delaney SextonContributing Editor Fraud Friday – Former Bank VP Pleads Guilty to $600,000 Loan Fraud and Arson “Richard Pigg not only used his professional position to deceive his victims and defraud the bank that employed him, he also risked the lives and safety of our heroic first responders when he chose to…

May 18, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Mike Sarthou, Merri Adams, and Guy Wenzel Mike Sarthou & Merri Adams Join TMC Financing to Amplify SBA 504 Lending in Southern California  “We are thrilled to welcome Merri and Mike to our Southern California team,” says Barbara Morrison, Founder and President of TMC…

May 17, 2023 Delaney SextonContributing Editor C-Suite Wednesday – The House Committee Part II Hearing on Rule Changes to be Held Today Today, the House Committee on Small Business will hold the second part of their hearing last week: “Taking on More Risk: Examining the SBA’s Changes to the 7(a) Lending Program Part II.” The…

May 16, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Representatives Concerned Over New Underwriting Standards and SBA Oversight Abilities “There are serious concerns that these changes to the program will be detrimental to taxpayers and small businesses alike. If more loans start to default, the fees to the program are going to have…

May 15, 2023 Delaney SextonContributing Editor Main Street Monday – Continuous Climbing Interest Rates Burden Small Businesses “Now, the economy appears to be slowing. That will mean that the Fed will be under pressure to cut rates to stimulate the economy and support employment,” writes Bill Dunkelberg, the NFIB’s Chief Economist. “While savers are happily…

May 12, 2023 Delaney SextonContributing Editor Fraud Friday – Almost 200 Fraudulent Applications Lead to a 2+ Year Prison Sentence “The theft of any amount of taxpayer funds is inexcusable but stealing over $4.8 million dollars from honest, hardworking Americans truly in need of pandemic relief is simply abhorrent,” says U.S. Attorney Jason Coody. A…