April 1, 2025 Bob ColemanFounder & Publisher TMC Financing 2025 Outlook Says Main Street Optimistic — 53% of Borrowers See Sales Growth For its 2025 Small Business Outlook, TMC Financing surveyed its customer base and found optimism among borrowers. Most anticipate sales growth, and only 7% expect to reduce their employee headcount. Here is a…

March 31, 2025 Bob ColemanFounder & Publisher Main Street Monday — SBA Sends Another “Fork in the Road” Voluntary Resignation Email to Employees SBA says its elimination of 2,700 jobs will come from voluntary resignations, “expiration of COVID-era and other term appointments,” and a limited number of Reduction in Workforce — RIFs. Regarding voluntary resignations,…

March 28, 2025 Bob ColemanFounder & Publisher Fraud Friday — Illinois State Prison Sergeant Loses Job and Career over $40K PPP Loan Fraud 41 Illinois state employees have been forced to resign or have been terminated from their jobs due to PPP loan fraud that totaled nearly $1 million. Almost all of them worked for…

March 27, 2025 Bob ColemanFounder & Publisher Movers & Shakers — Celtic Bank Names Josh Hovermale CCO and Ben Johnson Chief Commercial Finance Officer, Lance Christian Joins Stone Bank Josh Hovermale, CCO and Ben Johnson, CCFO, Join Celtic Bank Celtic Bank announces two key additions to its executive team of Ben Johnson as Chief Commercial…

“Effective March 27, 2025, SBA Lenders must enter the date of birth for all owners of an applicant business that the SBA Lender enters into E-Tran. “Until the 7(a) and 504 application forms can be updated, as part of the loan application, SBA Lenders must collect and submit this information.” Access the Notice here

March 25, 2025 Bob ColemanFounder & Publisher Hot Topic Tuesday — SBA Clarifies Environmental Report Approvals for GP loans The SBA procedural notice issued last week only applies to loans processed GP through the loan guarantee processing center in Citrus Heights. If an environmental investigation report concludes that a property has no contamination, it is…

For 7(a) loans with a maturity that exceeds 12 months, the Upfront Fees are: For loans of $150,000 or less: 2% of the guaranteed portion.  For loans of $150,001 to $700,000: 3% of the guaranteed portion. For loans of $700,001 to $5,000,000: 3.5% of the guaranteed portion of the loan up to and including $1,000,000,…

March 24, 2025 Bob ColemanFounder & Publisher Main Street Monday — SBA Issues New Form 1919 SBA has revised SBA Form 1919 to replace the term “gender” with the term “sex” in 3 instances on pages 2 and 5 of the form. SBA has also removed “Not Disclosed” as a possible response to the “Sex”…

March 21, 2025 Bob ColemanFounder & Publisher MORE BREAKING NEWS — SBA Announces Agency-Wide Reorganization, Reduces 2700 Jobs, SBA Employee Average Salary is $132,000 Read SBA’s notice here: https://www.sba.gov/article/2025/03/21/small-business-administration-announces-agency-wide-reorganization Here are the highlights: SBA will: – Reduce its workforce by 43% – Eliminate 2,700 jobs – Return to pre-pandemic staffing levels “The average salary of…