Posts by Coleman Report

December 13, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Small Business Owners Paying 8% Rate on Short-Term Loans “Going into the holiday season, small business owners are seeing a slight ease in inflation pressures, but prices remain high,” says Bill Dunkelberg, NFIB Chief Economist. “The small business economy is recovering as owners manage…

December 12, 2022 Delaney SextonContributing Editor Main Street Monday – Most Small Business Owners Run a Business for Greater Income ”In 2019, 64 percent of owners of firms with employees said wanting to be their own boss and having greater income were very important reasons for owning their own businesses,” reads a report from the…

December 9, 2022 Delaney SextonContributing Editor Fraud Friday – London Construction Company Director Banned from Running a Business After Abusing COVID Loan Program Insolvency Service Assistant Director of Investigation and Enforcement Services Tom Phillips says: “The lengthy disqualifications should serve as a reminder to others that the Insolvency Service will not shirk from its responsibility…

December 8, 2022 Delaney SextonContributing Editor SBA Bans Blueacorn & Womply for PPP Fraud – 8 Lenders Associated with Service Providers to be Fully Investigated by SBA “The House Select Subcommittee report details serious problems of fraud and self-dealing by lenders and by companies who were paid fees by lenders to help PPP funds reach…

December 7, 2022 Delaney SextonContributing Editor C-Suite Wednesday – 7 States to Receive up to $1.5 Billion Through State Small Business Credit Initiative “This is a historic investment in entrepreneurship, small business growth, and innovation through the American Rescue Plan that will help reduce barriers to capital access for traditionally underserved communities,” says Secretary of…

December 6, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Newtek Bank Receives Approval to Acquire the National Bank of New York City “We could not be more elated to receive the OCC’s approval to move forward and close the acquisition and become a bank holding company and financial holding company,” Barry Sloane, Chairman,…

December 5, 2022 Delaney SextonContributing Editor Main Street Monday – Recommendations in Response to Fintech Fraud In a report written by the Select Subcommittee on the Coronavirus Crisis about fintech’s involvement in PPP fraud, it finishes with eleven recommendations to address PPP fraud issues and improve future programs. The Chair of the Subcommittee, James Clyburn,…

December 2, 2022 Delaney SextonContributing Editor Fraud Friday – Fintechs Facilitated PPP Fraud Says Select Subcommittee in 130-Page Investigative Report “As today’s report details, many fintechs, while promising to help disburse billions of Paycheck Protection Program dollars to struggling small businesses efficiently and expeditiously, refused to take adequate steps to detect and prevent fraud despite…

December 1, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – Nik Van Vliet and Lee Kroll Nik Van Vliet joins First Bank of the Lake as VP, SBA BDO “Nik brings wide-ranging experience which is of tremendous value to the Bank and our clients. Bringing on another valuable SBA Lending perspective to the team…

November 30, 2022 Delaney SextonContributing Editor C-Suite Wednesday – Hotels See 20% Increase from 2019 in Revenue Per Room Based on an STR report from last week, hotel performance in the U.S. experienced improved occupancy and revenue per available room when compared to pre-pandemic rates. Here is the data: • From November 13 through 19,…