Massachusetts SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Eastern Bank (MA) 230 $41,602,200 $180,879 2 Live Oak Banking Company (NC) 21 $29,055,500 $1,383,595 3 TD Bank, National Association (DE) 203 $24,255,500 $119,485 4 Webster Bank National Association (CT) 44 $22,829,000 $518,841 5 Cambridge Savings Bank (MA) 27 $14,452,300 $535,270 6 Newtek Small Business…
Read MoreFraud Friday – 5 Individuals Indicted for Obtaining SBA Loans for Property Flipping
November 17, 2023 Delaney SextonContributing Editor Fraud Friday – 5 Individuals Indicted for Obtaining SBA Loans for Property Flipping At the head of this group of fraudsters, Mehul Ramesh Khatiwala is not only being indicted with the others for attempting to obtain over $35 million from financial institutions by providing false documentation for SBA loan…
Read MoreSolving Difficult SBA Servicing Problems w/ Lance Sexton — Training Webinar 12/6
A Coleman Training WebinarDate: Wednesday, December 6, 2023Time: 2:00 p.m. EasternDownload Registration FormA 75-minute training class that lets staff earn e-certification $800 Total Fee for all with an Email Address from your Domain$500 Single Email User License 4 Ways to Order1) Email this form to cindy@colemanreport.com2) Email bob@colemanreport.com with “Register Secondary Market Summit”3) Call or text Bob Coleman…
Read MoreFinalize your SBA Secondary Summit and National Rural Lenders Roundtable Travel Plans for Washington DC on December 6 & 7
by Bob ColemanPublisherNovember 16, 2023 Check out the updated agendas for both events. Still a little early to announce, but we’ll simply say you will not be disappointed with the keynote speakers. If the SBA secondary market or USDA’s B&I lending programs are important to your bottom line, now is the time to make plans…
Read MoreCity First and Momentus Capital form Partnership to Provide up to $100 Million in Underserved Small Business Owners
by Bob Coleman Publisher “This is a creative, flexible loan product with competitive rates that is tailored to the needs of entrepreneurs who live in or serve disinvested communities — or who otherwise have been left out due to historical lending practices,” says Ellis Carr, President and CEO of Capital Impact Partners and CDC Small…
Read MoreChange Lending Settles with Treasury — Renews CDFI Certification
by Bob Coleman, Publisher Southern California based CDFI Change Lending has resolved its dispute with the Feds and is now back in business. The heart of the dispute was whether the CDFI was meeting the requirement of 60% of its lending went to underserved markets. A former Chief of Staff to the CEO, Adam Levine,…
Read MoreLouisiana SBA 7(a) Rankings for FY 2023
by Bob ColemanPublisher RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 12 $28,548,000 $2,379,000 2 American Bank (LA) 56 $22,953,300 $409,880 3 First Financial Bank (AR) 12 $18,819,000 $1,568,250 4 Newtek Small Business Finance, Inc. (NY) 21 $15,326,300 $729,824 5 b1BANK (LA) 25 $14,901,200 $596,048 6 Peoples Bank…
Read MoreHouse Small Biz Committee Questions SBA’s Office of Entrepreneurial Development Spending
Says Chairman Rogers Williams of Texas in yesterday’s hearing. Owning your own small business is one of the most rewarding careers in America. You get to put your time and effort into something that you are passionate about and fulfills a need in the marketplace. We all know that to be a successful small business…
Read MoreKentucky SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 8 $16,700,200 $2,087,525 2 Stock Yards Bank & Trust Company (KY) 42 $16,628,800 $395,924 3 Republic Bank & Trust Company (KY) 32 $13,744,200 $429,506 4 The Huntington National Bank (OH) 63 $13,066,300 $207,402 5 Community Trust Bank, Inc. (KY) 45…
Read MoreSenate Small Business Chair wants $14 Million for SBA’s OIG for COVID-19 Loan Portfolio Oversight
In one of her first actions as Chair of the U.S. Senate Committee on Small Business and Entrepreneurship Jeanne Shaheen wants SBA’s Inspector General to continue and expand its work of identifying and collecting fraudulent PPP and EIDL loans. Shaheen writes, “Unfortunately, many unscrupulous actors viewed our collective commitment to help deserving small businesses as…
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