Fraud Friday – Fintechs Facilitated PPP Fraud Says Select Subcommittee in 130-Page Investigative Report

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…

Read More

Coleman Movers & Shakers – Nik Van Vliet and Lee Kroll

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…

Read More

C-Suite Wednesday – Hotels See 20% Increase from 2019 in Revenue Per Room

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,…

Read More

SBA Hot Topic Tuesday – Restaurant Revitalization Fund to Distribute $83 Million

November 29, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Restaurant Revitalization Fund to Distribute $83 Million “This week, the U.S. Small Business Administration (SBA) began distribution of returned funding in the Restaurant Revitalization Fund (RRF) program, following the program’s closure in June 2021. In doing so, the SBA worked with the advice of…

Read More

Main Street Monday – Veteran-Owned Small Businesses Generated $1.27 Trillion in Sales in 2018

November 28, 2022 Delaney SextonContributing Editor Main Street Monday – Veteran-Owned Small Businesses Generated $1.27 Trillion in Sales in 2018 Earlier in November, the SBA Office of Advocacy released facts about small businesses with a focus on veteran ownership statistics. Their information used the most recent Census Bureau data to show veteran-owned small businesses’ contributions…

Read More

Fraud Friday – Fugitive Couple Extradited from Montenegro for $20 Million Fraud

November 25, 2022 Delaney SextonContributing Editor Fraud Friday – Fugitive Couple Extradited from Montenegro for $20 Million Fraud In June 2021, a couple from California, Marietta Terabelian and Richard Ayvazyan, were convicted for a PPP and EIDL fraud scheme. Toward the end of August 2021, they cut their tracking bracelets and fled the United States.…

Read More

C-Suite Wednesday – Senator Cardin Introduced Bill to Make Community Advantage Permanent

November 23, 2022 Delaney SextonContributing Editor C-Suite Wednesday – Senator Cardin Introduced Bill to Make Community Advantage Permanent “The Community Advantage pilot program has proven to be an effective tool in reaching traditionally underserved entrepreneurs,” says Senator Ben Cardin, Chairman of the Senate Committee. “Minority and women-owned businesses are the fastest-growing groups of firms in…

Read More

SBA Hot Topic Tuesday – SBA FY23 7(a) Loan Approvals Up 130%

November 22, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – SBA FY23 7(a) Loan Approvals Up 130% “People are certainly unsure of what’s going to happen,” says John Reosti of American Banker during the Coleman Report Live! show. “People are expecting some type of recession in 2023. It seems like conventional lenders are tightening…

Read More

Fraud Friday – Community Bank Loan Officer Pleads Guilty in $1.2 Million Misapplication Scheme

November 18, 2022 Delaney SextonContributing Editor Fraud Friday – Community Bank Loan Officer Pleads Guilty in $1.2 Million Misapplication Scheme “Banks are institutions that people trust with their life savings, and Fowler tarnished that trust by violating his position and greedily misusing customers money,” says Keri Farley, Special Agent in Charge of FBI Atlanta. “Fortunately,…

Read More