June 6, 2022 Delaney SextonContributing Editor Main Street Monday – African-American Self Employment Rate is Half of White Self Employment Rate “African-Americans are underrepresented among self-employed workers. When African-Americans own firms, they are less likely to have employees, operate with less financing, and are more likely to become discouraged enough to forego applying for loans,”…

June 3, 2022 Delaney SextonContributing Editor Fraud Friday – CEO of Noah Bank Convicted for Taking Bribes on SBA Guaranteed Loans Edward Shin’s convictions related to a fraud scheme spanning from 2009 to 2013. Due to Edward, Noah Bank issued loans to small businesses under false and fraudulent pretenses and to businesses that Edward had…

June 2, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – Gary Harris, Nick Patel, and Angela Humann Farmers and Merchants Bank Announces Gary Harris’s Promotion to President and CEO Bruce Schindler, Chairman of the Company’s and the Bank’s Boards of Directors, comments “After a thorough search, the Board is very confident in its selection…

June 1, 2022 Delaney SextonContributing Editor C-Suite Wednesday – SBA Inspector General Tells Congress SBA’s Top 8 Challenges The SBA Office of Inspector General’s Semiannual Report to Congress was recently submitted for the first half of fiscal year 2022. The report consists of the OIG’s published reports and important investigations executed through their oversight work…

Eligibility Requirements for Processing SBA Loans GP A 75 minute video webinar your staff can participate in.A Coleman WebinarDate: Wednesday, June 8, 2022Time: 2:00 p.m. EasternDownload a Registration Form The number one reason SBA denies its guaranty payment to a lender is the lender did not correctly determine the borrower’s eligibility for the guaranty. The…

May 27, 2022 Delaney SextonContributing Editor Fraud Friday – SBA Ignored Fraud Risk in PPP Loans Says SBA Inspector General “SBA did not have an organizational structure with clearly defined roles, responsibilities, and processes to manage and handle potentially fraudulent PPP loans. In addition, the agency did not establish a centralized entity to design, lead,…

May 26, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – Tina Townsend, Josh Rawls, and Rick Sayward John Marshall Bank Hires Tina Townsend as a Business Development Officer “Bringing Tina’s community-driven style of banking to the John Marshall Bank team will help support the vibrant DC market. Her experience serving in various leadership roles…

May 25, 2022 Delaney SextonContributing Editor C-Suite Wednesday – Is SBA Doing Their Job? Asks Congress Even with the major increases in SBA lending throughout the pandemic, almost 60% of small business owners did not have their capital needs met. The House Committee on Small Business held a hearing reviewing the management of the Office…

May 24, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – SBA is Compliant with 7(a) Guaranty Purchases Improper payments occur when a lender submits for a guaranty purchase and is approved, but the Office of Inspector General later reviews the guaranty purchase and makes a determination that there was a mistake and the payment…

May 23, 2022 Delaney SextonContributing Editor Main Street Monday – Over 40% of Small Businesses have Job Openings as of Q2 Fiscal Year 22 “New data from the U.S. Census Bureau indicates that the tightening labor market is disproportionately impacting smaller businesses,” reads a report from the Office of Advocacy. The Small Business Administration’s Office…