September 12, 2022 Delaney SextonContributing Editor Main Street Monday – Veteran Documentation for $0 Upfront Fee on 7(a) Loans in FY23 For all SBA Express loans made to businesses owned and controlled by a veteran or spouse of a veteran, the Upfront Fee will be $0 in fiscal year 2023. To qualify for fee relief,…

September 9, 2022 Delaney SextonContributing Editor Fraud Friday – Man Steals Millions from PPP, EIDL, and a Religious Organization “Kenneth Gaughan is facing the consequences for defrauding his employer for years and then enriching himself with taxpayer funds meant to help businesses and employees at a time of crisis,” says IRS-CI Special Agent in Charge…

September 8, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – Scott Bender, Diane Sinn, and Live Oak Bank SBA Team National Bank of Commerce Welcomes Scott Bender as SVP, Senior Commercial Banker “Scott’s addition to the team will allow NBC to expand its presence in the Brainerd Lakes area, as well as the Western…

A New Coleman Webinar for SBA Lenders How to Prepare a Quick and Effective SBA 7(a) Liquidation PlanWith Bonus ContentEnsure you are Compliant with SBA Site Visit Regulations A Coleman WebinarDate: Wednesday, September 14, 2022Time: 2:00 p.m. EasternDownload a Registration Form a 75-minute webinar that lets staff earn e-certification There are three steps lenders must…

September 7, 2022 Delaney SextonContributing Editor C-Suite Wednesday – 504 Program Fees in Fiscal Year 2023 Starting on October 1, 2022, the following fees will be in effect for all approved 504 loans and continue through September 30, 2023. For all 504 loans not made under the 504 Debt Refinance without Expansion Program, the fees…

September 6, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – 7(a) Fees Effective Fiscal Year 2023 Starting on October 1, 2022, the 7(a) Lender’s Annual Service Fee based on the gross loan approval amount are as follows:• $500,000 and less: 0%• $500,001 to $5,000,000: 0.55% of the guaranteed portion of the outstanding balance of…

September 2, 2022 Delaney SextonContributing Editor Fraud Friday – Former Bank Executive Sentenced to 8 Years & Costs the Bank $13 Million “Today’s sentencing demonstrates that our office has and will continue to aggressively pursue and prosecute fraud against financial institutions,” says Executive Assistant U.S. Attorney Kristy Callahan. “This type of fraud damages the economy…

September 1, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – Rickey Jimenez Jr., Joshua Adams, and Zach Weber Enterprise Bank & Trust Welcomes Rickey Jimenez Jr. as SVP, Director of Community Reinvestment In this role, Jimenez will oversee the development and execution of Enterprise’s Community Reinvestment Act (CRA) strategy, which includes responsibility for community…

August 31, 2022 Delaney SextonContributing Editor C-Suite Wednesday – Half of Online Lender Applicants Seek $50k or Less “Consistent with prior years’ survey findings, firms that apply to online lenders are more likely to be newer and have fewer employees, lower revenues, and weaker credit scores. Higher shares of Black- and Hispanic-owned firms apply to…

August 30, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Applicants Report High Interest Rates & Unfavorable Repayment Terms at Online Lenders “Nonbank online lenders serve as an important source of capital for small businesses,” reads a recent Small Business Credit Survey report from the Federal Reserve Banks. “The number of small businesses seeking…