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…

August 29, 2022 Delaney SextonContributing Editor Main Street Monday – Secret Service Returns $286 Million in Fraudulent EIDLs to SBA “Through intentional collaborations like this, OIG will continue to ensure that taxpayer dollars obtained through fraudulent means will be returned to taxpayers and fraudsters involved face justice,” says the SBA Inspector General, Hannibal “Mike” Ware.…

A New Coleman Webinar for SBA Lenders How to Underwrite the SBA Business Acquisition LoanAre you Maximizing Lending in this Profitable Niche? A Coleman WebinarDate: Wednesday, September 7, 2022Time: 2:00 p.m. EasternDownload a Registration Form a 75-minute webinar that lets staff earn e-certification Ten Thousand baby boomers retire every day. And they own 40% of…

August 25, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – Jeffrey Rathkamp, Tony Pascuccio, and Craig Smidt Rockland Trust Welcomes Jeffrey Rathkamp and Tony Pascuccio as VP, Commercial Loan Officers “It’s an absolute pleasure to have Jeff and Tony join our North Shore team. Their extensive and diverse experience and expertise make them an…

August 24, 2022 Delaney SextonContributing Editor C-Suite Wednesday – Small Business Lending Remains Steady Says Biz2Credit “Small banks, which process a lot of SBA loans, remain a good source of capital. For companies that need money more quickly, nonbank lenders remain a good option,” says Biz2Credit’s CEO Rohit Arora. “Approvals at big banks slipped just…

August 23, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Loan Volume in June 2022 Fell Almost 9% From June 2021 • As of June 2022, the PayNet Small Business Lending Index dropped by almost 9% from June 2021 showing a decreased volume of new commercial loans and leases to small businesses.• Currently, Minnesota…