April 28, 2023 Delaney SextonContributing Editor Fraud Friday – PPP Fraudster Sold His Business to Buy an Alpaca Farm A Massachusetts man pled guilty to four counts of wire fraud and three counts of money laundering for committing fraud across multiple pandemic relief programs. Dana McIntyre is the former owner of a restaurant, Rasta Pasta…

April 27, 2023 Delaney SextonContributing Editor Coleman Report – SBA Says SOP Should Come Out the First Week of May According to testimony in the Senate Small Business Committee hearing, lenders can expect guidance from the SBA on the implementation of the final rules in the coming week. SBA officials indicated during the hearing that…

April 26, 2023 Delaney Sexton Contributing Editor C-Suite Wednesday – Historical Rate Hikes Occur Abruptly Jon Winick, CEO of Clark Street Capital held a webinar, “Balancing Act: Bank Risk Management During GFC 2.0”, produced by Coleman Publishing. Guests Umrai Gill, Jim McAlpin, and Josh Siegel joined to talk about the current state of the banking…

April 25, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Senate Hearing About Implementation of Final Rules With the new final rules going into effect in May, the Senate Small Business Committee is holding a hearing tomorrow at 3:30 E.T. to discuss how the SBA will administer these rules. The witness panel will consist…

April 24, 2023 Delaney SextonContributing Editor Main Street Monday – SBA Inspector General Recovers $29 Billion in Pandemic Fraud “My office knew from the onset of pandemic relief that SBA would face a delicate balancing act of preventing wide-spread fraud while ensuring timely disbursement of relief funds to Americans in immediate need of assistance,” says…

April 21, 2023 Delaney SextonContributing Editor Fraud Friday – Former Head of SBA Pleads Guilty to Fraud Charges During His Trial It was announced that the 21st Administrator of the SBA, Hector Barreto, decided before the fourth day of his trial to plead guilty in exchange for the prosecution agreeing to drop four other charges.…

April 20, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Brad Abbey, Michael Davis Luong, and Michael Lankford Brad Abbey Joins American Momentum Bank as SVP, Senior Commercial Relationship Manager “Brad is a lifelong Florida resident and has been active in the Tampa Bay commercial lending market for many years,” says Porter Smith, Tampa…

April 18, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – More Small Businesses’ Credit Needs Are Satisfied “Optimism has been at recession levels for a year. But unexpectedly strong consumer spending has kept Main Street alive and supported strong labor demand,” reads the March NFIB Small Business Economic Trends report. Here is what small…

Balancing Act: Bank Risk Management During GFC 2.0 In the most chaotic month in banking since the Global Financial Crisis, the failures of Silicon Valley Bank and Signature Bank sent shockwaves throughout the financial markets, resulting in unprecedented volatility in bank stocks, bank runs, and massive federal intervention. What does this mean for the economy…

April 17, 2023 Delaney SextonContributing Editor Main Street Monday – Congress Displays Unease with New SBA Rules Last week, the SBA announced two final rules to take effect in May. Some of the changes in the rules include lifting the SBLC moratorium, removing the Loan Authorization, streamlining the application process, and updating lending criteria. Chairman…