Nik Patel’s Prison Stay Extends by 27 Years After Another $8.5 Million Fraud – Fraud Friday
October 25, 2024 Delaney SextonContributing Editor Nik Patel’s Prison Stay Extends by 27 Years After Another $8.5 Million Fraud – Fraud Friday To Nik Patel, $179 million was not enough, nor was another $19 million. From the federal prison he has been in for the last 6 years, he was executing yet another scheme to…
Read MoreSBA Moves to Make CDC 504 ALP Pilot Program Permanent
SBA Moves to Make CDC 504 ALP Pilot Program PermanentOctober 24, 2024By Bob Coleman The SBA Accredited Lender Program for CDCs grants Certified Development Companies (CDCs) the ability to underwrite, approve, close, and service ALP Express pilot loans under $500,000. Today’s Federal Register notice proposes to make the program permanent. To qualify for the ALP…
Read MoreThe 17th Annual SBA Secondary Market Summit; Washington D.C. — December 5th, 2024
We’re back for 2024! Bob Judge will bring his decades of industry knowledge and expert insight to give us a glimpse of what to expect in 2025. Bob Coleman will moderate and put together the only program that brings together the Big Four of the SBA secondary market — Brokers, Investors, Sellers and SBA. Marty…
Read MoreThe 17th Annual SBA Secondary Market Summit; Washington D.C. — December 5th, 2024
We’re back for 2024! Bob Judge will bring his decades of industry knowledge and expert insight to give us a glimpse of what to expect in 2025. Bob Coleman will moderate and put together the only program that brings together the Big Four of the SBA secondary market — Brokers, Investors, Sellers and SBA. Marty…
Read More80% of Small Business Says Sales to Grow Says B of A
SBA Hot Topic Tuesday — 80% of Small Business Says Sales to Grow Says B of AOctober 22, 2024Bob Coleman Nearly four out of five (78%) small and mid-sized business owners anticipate revenue growth in the next 12 months. This level of confidence spans most business owners, with 76% of women, 82% of Hispanic-Latino, 84%…
Read More2025 SBA Lender Industry Coleman Awards Call for Nominations
Elevate Your Reputation: Seize the Spotlight in SBA Lending Excellence Are you capitalizing on your SBA lending success? Coleman’s 2025 SBA Lender Professional Awards offer a golden opportunity to showcase your institution’s impact and leadership in empowering America’s entrepreneurs. This isn’t just another accolade – it’s a powerful tool to:• Boost your institution’s visibility among…
Read MoreMain Street Monday — 93% Americans Trust Small Business Says Gallup — More Than Any Other Institution
Main Street Monday — 93% Americans Trust Small Business Says Gallup — More Than Any Other Institution October 21, 2024 Gallup rated 17 US Institutions and small business tops the confidence list in their 2024 poll with 93% expressing a “great deal, “quite a lot” or “some” confidence. The Small Business Numbers. . . Great Deal…
Read MoreCouple Sentenced to a Combined 32 Years in Prison for PPP Fraud – Fraud Friday
October 18, 2024 Delaney SextonContributing Editor Couple Sentenced to a Combined 32 Years in Prison for PPP Fraud – Fraud Friday “The Fullertons and their co-conspirators created a complex scheme to fraudulently obtain Paycheck Protection Program loans intended to help small businesses affected by the COVID-19 pandemic. They falsified payroll records, banking details, and other…
Read MoreSmall Business Loan Delinquencies and Defaults Continue to Rise Says Equifax
Equifax Main Street Lending ReportOctober 2024Small Business Lending Report Says Equifax. . . . Small Business Lending activity was dampened again in August, according to the latest Equifax SBLI reading. The Federal Reserve’s decision to lower interest rates by 50 basis points in September — with additional cuts likely on the way — should provide…
Read MoreTwo Weeks Into the Fiscal Year SBA Says Disaster Loan Fund Empty
Two Weeks Into the Fiscal Year SBA Says Disaster Loan Fund Empty By Bob ColemanOctober 16, 2024 “We know that swift financial relief can help communities recover quickly to stabilize local economies,” says SBA Administrator Isabel Casillas. “While we await Congress to provide much-needed funding, we strongly encourage eligible businesses and households to apply for SBA…
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