NEW SBA SOP 50 10 7 Regulation Changes Site License includes access to our new Coleman Training Live Stream Webinar Wednesday, June 7 (Live Session)2:00 p.m. Eastern 75-minute training with e-certification Download a Registration Form The new SOP 50 10 7 has been released. The effective date for the new SOP 50 10 7 is…

April 14, 2023 Delaney SextonContributing Editor Fraud Friday – Former Fraudster Pleads Guilty to SBA Loan Fraud & Ponzi Scheme “As he admitted in court today, between June 2020 and April 2022, Franklin Ray engaged in four separate fraudulent schemes by lying about the business operations of his purported trucking companies, including two separate PPP…

April 13, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Bruce Boddie, Momentus Capital, SBA After PPP, and MALC Bruce Boddie Joins VelocitySBA as Southeast Regional Sales Manager “Bruce Boddie is a great addition to VelocitySBA. A tremendous talent and a significant milestone in our strategic growth plan as a premier nationwide SBA lender,”…

April 12, 2023 Delaney SextonContributing Editor C-Suite Wednesday – Loan Authorization Requirement to be Removed, New SBLC Licenses During the 7(a) Quarterly Connect Call held by the SBA, it was announced that the final rule for the SBLC Moratorium Recission and Loan Authorization Removal would be published today. These are important details from the final…

April 11, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – The New Regulatory Changes to Lending Criteria and Loan Conditions After closing the comment period, the SBA received 146 comments on the changes within the proposed rule. The SBA addressed the comments on specific regulatory changes throughout the final rule. Here are the regulatory…

April 10, 2023 Delaney SextonContributing Editor Main Street Monday – SBA Will Remove the Franchise Directory in May On May 11, 2023, the final rule that the SBA published today will be effective. As a result, the SBA will no longer be publishing the Franchise Directory beginning on that day. The SBA reportedly received 54…

April 7, 2023 Delaney SextonContributing Editor Coleman Report – FLASH! John C. Ponte Response & Catanzaro Clarification Earlier today, Coleman Report received further communications regarding the FDIC Notices. The following information was provided by a spokesperson for Mr. Ponte. John C. Ponte: On the Record Statement to FDIC Notice of Charges  “I strongly dispute the…

April 7, 2023 Delaney SextonContributing Editor Coleman Report – FLASH! SBA Announces the Upcoming Publication of the Final Rule on Affiliation and Lending Criteria Yesterday, the SBA announced that the final rule on affiliation and lending criteria will be published on Monday. The rule will be effective 30 days after its publication. SBA will be…

April 7, 2023 Delaney SextonContributing Editor Fraud Friday – FDIC Seeks Removal of Two Bank Executives & a Referral Agent for SBA Loan Scheme The FDIC issued a Notice of Charges against three individuals. Robert S. Catanzaro was the CEO, a Director, and a Principal Shareholder at Independence Bank in Rhode Island. Danielle Desrosiers was…

April 6, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Sherry Martin, Armen Balian, and Tony Diaz Sherry Martin Joins the SBA Complete Team as SVP, Director of Client Bank Development Jerry Kinlaw, Executive Vice President of SBA Complete says of Sherry joining the team, “We are very excited to have a veteran government…