Posts by Coleman Report

October 18, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – OIG Lists Top SBA Management Challenges in FY23 “Many of the top management challenges are longstanding, inherently difficult, and may likely continue to be challenges in the coming years. Addressing the challenges will require consistent, focused attention from agency management and ongoing engagement with…

October 17, 2022 Delaney SextonContributing Editor Main Street Monday – 30% of Small Businesses Globally Worried About Closing ”The global economy appears to be in a tenuous position. There are large inflationary pressures in many markets, supply chain disruptions and the prospect of recession for many countries and territories. At the same time, several indicators,…

A Live Streaming Webinar SBA Issues New FY23 PPP Loan GuidanceDefines Lender Servicing Requirements and Guaranty Purchase Responsibilities A Coleman WebinarDate: Wednesday, October 19, 2022Time: 2:00 p.m. Eastern(Includes Checklist and Recording)Download Registration Form More guidance has been issued by SBA to lenders for prudent service and charge-offs of PPP loans. Effective October 5, SBA lenders…

October 14, 2022 Delaney SextonContributing Editor Fraud Friday – Bank CEO Sentenced to a Year for SBA Loan Guarantee Fraud “As CEO, Edward Shin was entrusted with stewardship of a Pennyslvania-based bank. Instead of promoting and protecting the bank’s interests, Shin used the bank as his own piggy bank, stealing from it to line his…

October 13, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – Chris Dennis, David Bybee, Scott Wicks, and SBA Office of Financial Assistance Capital One Welcomes Chris Dennis to the Business Banking Team as Market Credit Executive, SVP Chris Dennis has joined Capital One’s Business Banking Team and will be overseeing the expansion markets in…

October 12, 2022 Delaney SextonContributing Editors C-Suite Wednesday – Update on the New SOP Release & New FY23 Fees During SBA’s first 7(a) Quarterly Connect Call for the fiscal year 2023, they went over the lending activity numbers for the entirety of fiscal year 2022, the new fees that are effective now, and when the…

October 11, 2022 Delaney SextonContributing Editors SBA Hot Topic Tuesday – Coleman’s 2022 BDO Summit Last week, Coleman held their 2022 BDO Summit to honor Coleman’s Business Development Officers of the Year at the Arizona Biltmore Hotel in Phoenix. During the Keynote Address by Bob Judge, he discussed that we have not seen a prolonged…

October 10, 2022 Delaney SextonContributing Editor Main Street Monday – Small Business Growth in Suburbia is Almost Triple than Downtown ”Overall, Yelp data shows the average yearly business growth during the pandemic is accelerating faster in non-downtown neighborhoods compared to downtown areas, and business growth in 2022 is greater in non-downtown areas compared to the…

October 7, 2022 Delaney SextonContributing Editor Fraud Friday – Kabbage is Bankrupt “The actions we take today are in line with KServicing’s mission to support PPP borrowers through their loan forgiveness process, provide loan processing services to partner banks, and wind down the Company’s existing loan portfolio,” Laquisha Milner, Chief Executive Officer, states. “During the…

A Live Streaming Webinar Affiliation-Ensure Compliance with SBA’s Definitions for Correct DecisionsIdentify Entities SBA Considers an Affiliate of Your Loan Applicant A Coleman WebinarDate: Wednesday, October 12, 2022Time: 2:00 p.m. Eastern(Includes Checklist and Recording)Download Registration Form A major factor of SBA loan denials is the lender’s failure to identify an affiliated business of the applicant.…