Posts by Coleman Report

April 13, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Bruce Boddie, Momentus Capital, SBA After PPP, and MALC Bruce Boddie Joins VelocitySBA as Southeast Regional Sales Manager “Bruce Boddie is a great addition to VelocitySBA. A tremendous talent and a significant milestone in our strategic growth plan as a premier nationwide SBA lender,”…

April 12, 2023 Delaney SextonContributing Editor C-Suite Wednesday – Loan Authorization Requirement to be Removed, New SBLC Licenses During the 7(a) Quarterly Connect Call held by the SBA, it was announced that the final rule for the SBLC Moratorium Recission and Loan Authorization Removal would be published today. These are important details from the final…

April 11, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – The New Regulatory Changes to Lending Criteria and Loan Conditions After closing the comment period, the SBA received 146 comments on the changes within the proposed rule. The SBA addressed the comments on specific regulatory changes throughout the final rule. Here are the regulatory…

April 10, 2023 Delaney SextonContributing Editor Main Street Monday – SBA Will Remove the Franchise Directory in May On May 11, 2023, the final rule that the SBA published today will be effective. As a result, the SBA will no longer be publishing the Franchise Directory beginning on that day. The SBA reportedly received 54…

April 7, 2023 Delaney SextonContributing Editor Coleman Report – FLASH! John C. Ponte Response & Catanzaro Clarification Earlier today, Coleman Report received further communications regarding the FDIC Notices. The following information was provided by a spokesperson for Mr. Ponte. John C. Ponte: On the Record Statement to FDIC Notice of Charges  “I strongly dispute the…

April 7, 2023 Delaney SextonContributing Editor Coleman Report – FLASH! SBA Announces the Upcoming Publication of the Final Rule on Affiliation and Lending Criteria Yesterday, the SBA announced that the final rule on affiliation and lending criteria will be published on Monday. The rule will be effective 30 days after its publication. SBA will be…

April 7, 2023 Delaney SextonContributing Editor Fraud Friday – FDIC Seeks Removal of Two Bank Executives & a Referral Agent for SBA Loan Scheme The FDIC issued a Notice of Charges against three individuals. Robert S. Catanzaro was the CEO, a Director, and a Principal Shareholder at Independence Bank in Rhode Island. Danielle Desrosiers was…

April 6, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Sherry Martin, Armen Balian, and Tony Diaz Sherry Martin Joins the SBA Complete Team as SVP, Director of Client Bank Development Jerry Kinlaw, Executive Vice President of SBA Complete says of Sherry joining the team, “We are very excited to have a veteran government…

April 4, 2023By Anna Griggs According to Amanda Hite, the president of STR, the hotel industry is expected to experience significant growth in 2023. Hite believes that the industry’s performance will be “pretty remarkable, with demand remaining strong due to a substantial return in group business”. Although business travel has some room for growth, Hite…

April 3, 2023 Delaney SextonContributing Editor Main Street Monday – CFPB Finalizes Rule to Collect Small Business Lending Data On March 30, the Consumer Financial Protection Bureau (CFPB) finalized a rule that increases transparency in small business lending, promotes economic development, and combats unlawful discrimination. Crucial for small business lenders to know: • Traditional and…