40 states have been approved for SSBCI funding16 states are accepting SSBCI applications through lendersUnderstand SSBCI 2.0 2023 Requirements for Lenders A Coleman Training WebinarDate: Wednesday, March 8, 2023Time: 2:00pm EasternDownload a Registration Form The State Small Business Credit Initiative (SSBCI) was reinstated in March 2021 with $10 billion in funding as part of the American Rescue…

February 10, 2022 Delaney SextonContributing Editor Fraud Friday – SBA COVID Relief Used to Buy Six Cars, a Yacht, Jewelry, and More A Missouri business owner, John Michael Felts, was sued by the federal government and is accused of using multiple companies to defraud the EIDL program and PPP. Additionally, he applied for loans using…

• Understand SBA’s 2023 Collateral Requirements• How to Document for Collateral Exempted From Your SBA 7(a) Loan A Coleman Training WebinarDate: Wednesday, February 22, 2023Time: 2:00pm EasternDownload a Registration FormA 75-Minute Training Class That Lets Staff Earn E-Certification SBA regulations are clear that your underwriting analysis must show how the borrower will repay the loan…

February 9, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Tray Mounce, Greg Sandau, and Rob Hertenstein Vantage Bank names Tray Mounce as Houston Co-Market President “We are thrilled to welcome Tray to our leadership team in the Houston region,” says Vantage Bank’s President and CEO, Jeff Sinnott. “His dedication to serving and guiding…

February 8, 2023 Delaney SextonContributing Editor C-Suite Wednesday – State Small Business Credit Initiative Funds Three California Programs The U.S. Treasury provided $1.18 billion in funds from the State Small Business Credit Initiative 2.0 to California. Funds were divided equally between IBank and the California Pollution Control Financing Authority (CPCFA). Over the course of eight…

February 7, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – GAO Reports to Congress About COVID Fraud and Improper Payments At the beginning of February, the U.S. Government Accountability Office published a report about emergency relief funds and the improvements that are necessary to address fraud and improper payments. The report was used as…

February 7, 2023 Joseph ColemanEditor The State Small Business Credit Initiative (SSBCI) outlined the key benefits of California Small Business Loan Program last week during a webinar for lenders and financial institutions. They told lenders nationwide that “all eyes are on California” as they set the precedent for new regulations on state small business lending…

February 6, 2023 Delaney SextonContributing Editor Main Street Monday – Senator Ernst Welcomed as Senate Committee Ranking Member “I’m honored by the confidence my colleagues have placed in me to help lead this important committee,” says Ranking Member Joni Ernst. “Over the last three years, Mainstreet USA has faced some of the toughest challenges in…

February 2, 2023 Joseph ColemanEditor The State Small Business Credit Initiative (SSBCI) held a webinar today detailing the benefits of it’s largest allocated SBLG in California. With $1.2 Billion in authority, the SSBCI 2.0 detailed how lenders can work with a network of lending partners to create jobs for underserved communities. Here are the benefits…

February 3, 2023 Delaney SextonContributing Editor Fraud Friday – Three Companies Agree to Pay More than $500,000 to Settle False Claims Act Allegations “PPP loans were intended to help qualified businesses retain their employees and pay other bills during the pandemic,” says U.S. Attorney Stephanie M. Hinds for the Northern District of California. “This Office…