November 9, 2020 Caity RoachContributing Editor Main Street Monday — Survey Finds Nearly Half of Small Businesses Do Not Plan to Reopen Physical Stores A recent survey conducted by website and marketing solutions provider, Bluehost, asked 500 business owners with fewer than 100 employees how they have adapted to ecommerce and adjusted their future business…

November 6, 2020Caity Roach Contributing EditorFraud Friday — Former Bank of America Manager Pleads Guilty to Embezzling $1.5 Million Former Bank of America client relationship manager, Waqas Ali, pleaded guilty last month to embezzling $1.5 million from one of his clients and using a portion of those funds to purchase a $63,293 Porsche SUV and…

November 3, 2020 Caity RoachContributing Editor Coleman Special Report — Four New SBA Forms Required November 3, 2020 On November 3, 2020, SBA Announced the immediate implementation of the updated SBA Form 1919 (Borrower Information Form), SBA Form 1920 (Lender’s Application for LoanGuaranty), SBA Form 1971 (Religious Eligibility Worksheet), and SBA Form 2237 (7(a) Loan Post…

New SBA Forms 1919, 1920, 1971, 2237 Compliance with SOP 50 10 6 Home Speakers Agenda Registration 75 minutes of Online Training for your staff A Coleman Webinar Date: Tuesday, November 10, 2020 Time: 2:00 p.m. Eastern Download a Registration Form On November 3, 2020, the SBA announced the update and release of SBA Form…

November 5, 2020 Caity RoachContributing Editor Coleman Movers & Shakers — Tony Boddie, Richard Duncan, and NADCO Tony Boddie hired at Merchants Bank of Indiana“We at Merchants are thrilled to have Tony joining our SBA Lending team,” says Jeff Scott, president of SBA Lending for Merchants Bank of Indiana. “Right now, with the challenges posed…

Nominations are now open for outstanding SBA lending professionals in the following categories: PPP lender of the Year (NEW!) Main Street Lender of the Year SBA 7(a) Lender of the Year SBA 504 Lender of the Year Rural SBA or USDA Lender of the Year Mission-Based SBA Lender of the Year SBA Secondary Market Person…

November 3, 2020 Caity Roach Contributing Editor Hot Topic Tuesday — Federal Reserve Adjusts Terms of Main Street Lending Program On Friday,  the Federal Reserve announced that it would be adjusting the terms of its Main Street Lending Program (MSLP) in an attempt to bolster support for small businesses affected by the coronavirus pandemic and…

November 2, 2020 Caity RoachContributing Editor Main Street Monday — International SME Economic Relief Programs Riddled with Fraud As of September, the SBA OIG had received more than 77,000 Hotline complaints of potential fraud within the PPP and EIDL programs and the U.S. Department of Justice had filed 39 PPP fraud cases. These staggering numbers…

12th Annual: “What you Need to Know about SBA 2021 Hospitality Financing” Home Speakers Agenda Registration Coleman’s 12th Annual SBA Hotel and Motel Financing Webinar 75 minutes of Online Training for your staff A Coleman Webinar Date: Thursday, November 12, 2020 Time: 2:00 p.m. Eastern Download a Registration Form What’s New that you Need to…

October 30, 2020 Caity RoachContributing Editor Fraud Friday — OIG Finds Over 21% of COVID-19 EIDLs May Have Been Improperly Obtained According to a recent SBA OIG report, the SBA approved $14.3 billion in COVID-19 EIDLs to accounts that differed from the original bank accounts listed on the loan applications; $62.7 billion in multiple COVID-19…