The Paycheck Protection Program General Fund Has Been Exhausted
May 5, 2021 Caity RoachEditor The Paycheck Protection Program General Fund Has Been Exhausted Yesterday, the Small Business Administration informed trade associations that Paycheck Protection Program funding has been exhausted and that the application portal has stopped accepting new applications for loans from most lenders. $6 billion in funding remains available for previously submitted loan…
Read MoreSBA Hot Topic Tuesday — Small Business Lending Activity Improves to Pandemic Era High
May 4, 2021 Caity RoachEditor SBA Hot Topic Tuesday — Small Business Lending Activity Improves to Pandemic Era High According to PayNet’s most recent issue of Strategic Insights, Small business lending activity has reached a pandemic era high and is now 2% higher than the last pre-pandemic reading. Additionally, delinquencies have fallen to their lowest…
Read MoreMain Street Monday – U.S. Small Business Recovery Only Slightly Outpaces the Global Average
May 3, 2021 Caity RoachEditor Main Street Monday – U.S. Small Business Recovery Only Slightly Outpaces the Global Average “Since the start of the pandemic more than a year ago, small businesses around the world have struggled, says Facebook Chief Operating Officer, Sheryl Sandberg. “While the roll-out of vaccines and the easing of lockdowns in…
Read MoreFraud Friday – The Prevalence of PPP Loan Fraud Remains Uncertain
April 30, 2021 Caity RoachEditor Fraud Friday – The Prevalence of PPP Loan Fraud Remains Uncertain The Department of Justice, law enforcement agencies, and government watchdogs continue to report ongoing efforts related to identifying and prosecuting Paycheck Protection Program (PPP) fraud. However, the overall prevalence of fraud throughout the program remains unclear. The Association of…
Read MoreUnforgiven! Now what Happens to that PPP Loan?
Download a Registration Form This Coleman webinar answers a very opaque question — what to do with unforgiven PPP loans?Lenders, and borrowers, need to know the various deadlines for filing paperwork. And, defining exactly what is required. Complicating the situation — approval date, varying covered periods and the loan disbursal amount. But what happens when…
Read MoreColeman Movers & Shakers — Jordan Wilson, Mike van Vierzen, and Kyle Davidson
April 29, 2021 Caity RoachEditor Coleman Movers & Shakers — Jordan Wilson, Mike van Vierzen, and Kyle Davidson Jordan Wilson Joins Axiom Bank as Vice President, C&I Loan Relationship Manager “Jordan’s determination sets him apart from other bankers,” says Ted Sheppe, Executive Vice President of Commercial Banking at Axiom Bank. “With a proven track record…
Read MoreC-Suite Wednesday — Restaurant Revitalization Fund Opens May 3, 2021
April 28, 2021 Caity RoachEditor C-Suite Wednesday — Restaurant Revitalization Fund Opens May 3, 2021 The SBA has announced that it will begin accepting online portal registrations for the Restaurant Revitalization Fund (RRF) grant program on Friday, April 30, 2021, at 9 a.m. EDT. The portal will then officially begin accepting applications on Monday, May…
Read MoreHot Topic Tuesday — Rhode Island to Join 17 States in Taxing PPP Proceeds
April 27, 2021 Caity RoachEditor Hot Topic Tuesday — Rhode Island to Join 17 States in Taxing PPP Proceeds Congress chose to exempt forgiven Paycheck Protection Program (PPP) loans from federal income taxation. However, many states remain on track to tax them by either treating forgiven loans as taxable income, denying the forgiven PPP loan…
Read MoreMain Street Monday — Older Entrepreneurs Dip Into Personal Finances to Stay Open
April 26, 2021 Caity RoachEditor Main Street Monday — Older Entrepreneurs Dip Into Personal Finances to Stay Open According to a recent report published by the Federal Reserve Bank of New York, entrepreneurs over the age of 45 entered the pandemic with much stronger financial cushions than similar age employees and younger business owners. Nevertheless,…
Read MoreAre You In Compliance with 2022 SBA 7(a) Collateral Requirements? — Webinar 5/25
• Understand SBA’s 2022 Collateral Requirements• How to Document for Collateral Exempted From Your SBA 7(a) Loan This 75-minute webinar earns e-certification for all attendees. A Coleman WebinarDate: Wednesday, May 25, 2022Time: 2:00 p.m. EasternDownload a Registration Form SBA regulations are clear that your underwriting analysis must show how the borrower will repay the loan…
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