July 9, 2020  By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Eric Dunham, Brian McDonald,  SBDC Advisory Board, and New South Carolina WBC Eric Dunham Joins First Bank of the Lake Eric I. Dunham has joined First Bank of the Lake’s  SBA Lending team as Vice President, Business Development…

July 8, 2020 By: Caity WituckiContributing Editor, C-Suite Wednesday C-Suite Wednesday – Less Than Half of SBA Lenders Plan to Continue Accepting PPP Applications According to the latest polls conducted during the Coleman Report Live daily show, less than half of SBA lenders (41%) plan to continue accepting PPP applications through the new August 8,…

July 7, 2020 By: Caity WituckiContributing Editor, Hot Topic Tuesday Hot Topic Tuesday – SBA and Treasury Release Names of PPP Loan Recipients Over $150K On Monday, the U.S. Small Business Administration and U.S. Department of Treasury released redacted Paycheck Protection Program (PPP) data that identifies recipients of loans over $150k by name and address.…

July 6, 2020 By: Caity WituckiContributing Editor, Main Street Monday Main Street Monday –  The Impact of COVID-19 On Small Business Retail Opportunities The coronavirus pandemic has greatly influenced the kind of products and services consumers are interested in. As a result, new business opportunities are emerging across four main sectors: health and fitness, home…

The $600 Billion Main Street Lending Program — What it Means for SBA Lenders Home Speakers Agenda Registration 75 minutes of Online Training for your staff A Coleman Webinar Date: Wednesday, July 15, 2020 Time: 2:00 p.m. Eastern Download a Registration Form Main Street Lending Program How Does MSNLF Work? The Secretary has committed $75…

July 3, 2020 By Caity WituckiContributing Editor, Fraud Friday Fraud Friday — Couple Attempts to Flee the Country After Obtaining $1.5 Million in Fraudulent PPP Loans On Saturday, June 20, 2020, Monica Magdalena Jaworska and her husband Tarik Jaafar were arrested at the JFK Airport in New York. According to federal prosecutors, the couple had…

July 1, 2020  By Caity Witucki Contributing Editor BREAKING NEWS — Senate and House Pass PPP Extension by Unanimous Consent Wednesday night, the House of Representatives quickly passed a bill, extending the window for business owners to apply for PPP loans to August 8, 2020.  The legislation passed in both the House and the Senate…

July 2, 2020  By Caity Witucki Contributing Editor, Coleman Movers & Shakers   Coleman Movers & Shakers — Bruce C. Boddie, Todd Shutley, and East Cambridge Savings Bank Bruce C. Boddie Joins First Bank of the Lake  Bruce C. Boddie has joined First Bank of the Lake’s Small Business Administration (SBA) Lending team as Senior…

July 1, 2020 By Caity WituckiContributing Editor, C-Suite Wednesday C-Suite Wednesday –  OCC Says PPP Poses Compliance Risk On Monday, the Office of the Comptroller of the Currency (OCC) reported that financial institution profitability is at risk due to a decline in economic conditions brought on by the coronavirus pandemic. According to the report, financial…

June 30, 2020 By: Caity WituckiContributing Editor, Hot Topic Tuesday Hot Topic Tuesday –  GAO Report on Lack of PPP Oversight Last Thursday, the Government Accountability Office (GAO) released a report urging the SBA and other government agencies to enact PPP loan fraud risk management policies. In the report, the GAO said that “because of…