Coleman Movers & Shakers — Keith Menner, First Port City Bank, and Gary Reynolds
October 29, 2020 Caity RoachContributing Editor Coleman Movers & Shakers — Keith Menner, First Port City Bank, and Gary Reynolds Community First Bank of Indiana Hires Keith Menner as SBA Lending Manager “We are excited to have Keith join our lending team in central Indiana. His depth of experience and expertise in government-guaranteed lending make…
Read MoreC-Suite Wednesday — Some PPP Deferrals May be Ending in March
October 28, 2020 Caity Roach Contributing Editor C-Suite Wednesday — Some PPP Deferrals May be Ending in March According to a recent poll conducted during the Coleman Report Live daily show, only 45% of lenders have begun integrating PPP deferrals into their 2021 portfolio performance plans. However, some borrowers may be reaching the end of…
Read MoreHot Topic Tuesday — New Study Reveals High Level PPP Forgiveness Application Data
October 27, 2020 Caity Roach Contributing Editor Hot Topic Tuesday — New Study Reveals High Level PPP Forgiveness Application Data Since the PPP forgiveness portal opened on August 10, 2020, Numerated, a Fintech focused on creating digital tools for small business lenders, has observed a 20% growth in forgiveness applications submitted through its platform each…
Read MoreMain Street Monday — 71% of PPP Borrowers are Waiting for More Guidance on PPP Forgiveness
October 26, 2020 Caity RoachContributing Editor Main Street Monday — 71% of PPP Borrowers are Waiting for More Guidance on PPP Forgiveness Although the SBA began accepting PPP forgiveness applications on August 10, 2020, 74% of PPP borrowers have not yet applied for forgiveness. According to a recent study conducted by Fundera, the reason borrowers…
Read MoreKey Player In Fraud Investigation Taken into Custody After Seeking to Exhume Bank President’s Body
October 23, 2020 Caity RoachContributing Editor Fraud Friday — Key Player In Fraud Investigation Taken into Custody After Seeking to Exhume Bank President’s Body Former Washington Federal Bank President and fraud suspect, John F. Gembara, was found dead on December 3, 2017, in the home of a customer who owed the bank $2.8 million. Gembara’s…
Read MoreColeman Movers & Shakers — Julie Fuller Jones, Lori Milton, and Giovanna Piovanetti
October 22, 2020 Caity RoachContributing Editor Coleman Movers & Shakers — Julie Fuller Jones, Lori Milton, and Giovanna Piovanetti Julie Fuller Jones Selected to Lead Encore Bank’s New SBA Lending Division “Julie has a proven record of building and leading small business lending divisions,” says Encore Bank Senior Executive Vice President and Chief Operations Officer,…
Read MoreC-Suite Wednesday — Small Business Lending Falls as Economic Recovery Slows
October 21, 2020 Caity Roach Contributing Editor C-Suite Wednesday — Small Business Lending Falls as Economic Recovery Slows For the first time since April, PayNet’s Small Business Lending Index declined 13.5 points (-9.1%) to 134.7 in August, signaling that the summer small business lending surge caused by PPP may be slowing down. Despite the drop,…
Read MoreOIG Says Managing COVID-19 Stimulus is the Greatest Challenge Facing SBA in FY 21
October 20, 2020 Caity RoachContributing Editor Hot Topic Tuesday — OIG Says Managing COVID-19 Stimulus is the Greatest Challenge Facing SBA in FY 21 On October 16, 2020 the SBA OIG published its annual report on the top management and performance challenges facing the SBA in the new fiscal year. “This report discusses several challenges…
Read MoreA Coleman Special Report — Lenders May Rely on Borrower Representations for PPP Loans Less than $50,000
By Bob Coleman Editor, Coleman Report A Coleman Special Report — Lenders May Rely on Borrower Representations for PPP Loans Less than $50,000 Effective October 14: The lender does not need to independently verify the borrower’s reported information if the borrower submits documentation supporting its request for loan forgiveness and attests that it accurately verified…
Read MoreMain Street Monday — 23% of Small Businesses Plan on Hiring in the Next Three Months
October 19, 2020 Caity RoachContributing Editor Main Street Monday — 23% of Small Businesses Plan on Hiring in the Next Three Months “[Business] plans are back to levels observed in the first quarter when the economy was busy extending the longest expansion in history,” says NFIB Chief Economist, William C.Dunkelberg. “Owners are now anticipating that the…
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