February 16, 2021 Caity RoachEditor SBA Hot Topic Tuesday – SBA Revises the Procedures for Addressing PPP Hold Codes When a Lender submits a PPP second draw loan application, the SBA will run the application data through a validation process. That validation process may return a Hold Code or Error Message that requires input from…

February 12, 2021 Caity RoachEditor Fraud Friday – Bank CEO Hides Nearly $1 Billion in Fraudulent Loans from Regulators “Today’s indictment sends a clear message that bank executives who engage in fraud that impacts the safety and soundness of financial institutions will be held accountable for their actions,” says the Acting Special Agent for the…

February 11, 2021 Caity RoachEditor Coleman Mover & Shakers – Maria Randall, Greg Young, and Wyndie Dwyer Maria Randall Joins First Business Bank as Vice President of SBA Lending “We’re thrilled to welcome Maria to our team here at First Business Bank,” says Marty Ferguson, Managing Director of SBA Lending. “Her personalized approach will be…

February 10, 2021 Caity RoachEditor C-Suite Wednesday – NADCO’s Recommendations for the New Administration’s First 100 days On January 25, 2021, the National Association of Development Companies (NADCO) released a white paper listing the trade organization’s top priorities and recommendations for the Biden-Harris Administration’s first 100 days.  In the white paper, NADCO encourages the new Administration to…

February 9, 2021 Caity Roach Editor SBA Hot Topic Tuesday – How to Resolve  PPP Hold Codes According to a recent poll conducted during the Coleman Report Live daily show, most (72%) PPP lenders still do not know how to resolve a hold on a First Draw PPP loan. As a result, 85% of PPP…

February 8, 2021 Caity RoachEditor Main Street Monday – Over Half of Small Businesses Surveyed Say 2020 Revenues Were Down More Than 25% According to the Federal Reserve’s latest Small Business Credit Survey, The vast majority of small businesses (95%) were impacted by the pandemic. 26% of the small businesses impacted closed temporarily, 56% reduced…

February 5, 2021 Caity RoachEditor Fraud Friday – Bank Manager Steals $1 Million From Customer with Dementia Former Comerica Bank branch manager, Marie Fulle, was recently sentenced to nearly three and a half years in federal prison for stealing more than $1 million from an elderly customer with dementia. Fulle primarily used the stolen funds…

February 4, 2021 Caity RoachEditor Coleman Movers & Shakers — Lynn Ozer, Brandon Malm, and Jarron Gray Lynn Ozer Named President of MultiFunding “I couldn’t be more excited to join Ami to launch his ingenious SBA Ignite platform to let entrepreneurs know about the awesome programs available from the SBA,” says Lynn Ozer. “These go…

A new Coleman Webinar for SBA Lenders Solving PPP Loan Hold Codes End Lender Frustration and Borrower Confusion with delays in PPP 1st or 2nd draw applications A Coleman WebinarDate: Tuesday, February 23, 2021Time: 2:00 p.m. EasternDownload a Registration Form 75-minute webinar that lets staff earn e-certification A recent Coleman Report Live! poll reveals 20% of…

February 3, 2021 Caity RoachEditor C-Suite Wednesday – SBA Borrowers are Now Eligible for Additional Debt Relief Payments Beginning this month, SBA borrowers who previously received six months of debt relief payments will be eligible for three additional months of payments. Borrowers assigned a NAICS code beginning with 61, 71, 72, 213, 315, 448, 451,…