NEW SBA COVID Underwriting Rules Webinar How to Prepare a Credit Memo that gets SBA Loan Approval and Passes SBA Review What 7(a) and 504 Underwriters Need to Know about SBA’s COVID-19 Loan Emergency Guidance SOURCES: SBA SOP 5010 6 Effective October 2020 SBA Notice 5000-20042 Effective August 2020 SBA Notice 5000-20057 Effective October 2020…

February 24, 2021 Caity Roach Editor C-Suite Wednesday – Participate in Coleman’s SBA Department Compensation Survey and Receive a Free Report! Your SBA lending team is invited to participating in Coleman’s 28th annual SBA department compensation survey. Survey results will be bundled and sold along with other essential data needed to support your compensation plan…

SBA Hot Topic Tuesday  – Upcoming Changes to the Paycheck Protection Program The Biden-Harris Administration and the SBA announced yesterday that they will be taking steps to further promote equitable relief for America’s mom-and-pop businesses by revising certain aspects of PPP. Here is what we currently know about the changes: The 14-day Exclusivity Period for…

February 22, 2021 Caity RoachEditor Flash Report  – Biden-Harris Administration and SBA Prioritize the Smallest of Small Businesses “The SBA is a frontline agency working to create an inclusive economy, focused on reaching women-owned, minority-owned, low- and moderate-income, rural, and other underserved communities in meaningful ways,” says SBA Senior Advisor Michael Roth. “While reported data…

February 22, 2021 Caity RoachEditor Main Street Monday – New York City Restaurants Report  57% Decrease in Employment “We’re nearly a year into the public health and economic crisis that has decimated New York City’s restaurants, bars, and nightlife venues,” says Andrew Rigie, executive director of the NYC Hospitality Alliance. “While the reopening of highly…

February 18, 2021 Caity RoachEditor Coleman Movers & Shakers – Renèe Bender, Margaret Griffin, and Jenni Shover Renèe Bender Joins NADCO as New Vice President of Government Relations Renée Bender joins NADCO from the SBA, where she served as a Senior Advisor in the Office of Rural Affairs and focused on access to capital and…

February 19, 2021 Caity RoachEditor Fraud Friday – Bookkeepers Embezzle Over $1 Million From Small Business Clients “People need to know who these people really are,” says George Lambos, the owner of a small business restaurant that was defrauded by Patricia Lindau and her husband, Kjell Lindau.  “It’s sickening,” Lambos says of the situation. He…

February 17, 2021 Caity RoachEditor C-Suite Wednesday – Establishing Loan Maturities for Section 1112 Debt Relief Payments Last Friday, the SBA issued a Procedural Notice which provides guidance on establishing maturities of new 7(a) loans eligible to receive debt relief payments under Section 1112 of the CARES Act.  For each new 7(a) loan approved beginning…

February 15, 2021 Caity RoachEditor Main Street Monday – House Committee Approves $25 Billion Restaurant Grant Program “As we approach the one-year mark of pandemic-related dining restrictions, we know that virtually every restaurant in every community has been impacted,” says Tom Bené, President and CEO of the National Restaurant Association. “The year ahead will be…