May 6, 2021 Caity RoachEditor Coleman Movers & Shakers – David Menoian, Brian King, and First Internet Bank David Menoian Promoted to Government Guaranteed Lending Business Unit President “I look forward to seeing the group’s growth under David’s helm,” says Crestmark Division President, Christopher Soupal. “He has exhibited solid leadership and a strong aptitude for business…

May 5, 2021 Caity RoachEditor C-Suite Wednesday – SBA 7(a) Lending Activity Surpasses Pre-Pandemic Level Throughout 2020 and early 2021 traditional SBA 7(a) lending slumped as borrowers opted for Paycheck Protection Program (PPP) loans. However, according to the SBA’s most recent lending report, 2021 7(a) lending activity by dollar amount recently surpassed pre-pandemic levels and…

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…

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…

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…

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…

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…