C-Suite Wednesday – SBA Extends COVID-19 Underwriting Guidance for SBA 7(a) Loans
April 7, 2021 Caity RoachEditor C-Suite Wednesday – SBA Extends COVID-19 Underwriting Guidance for SBA 7(a) Loans The U.S. and its territories have begun to see improvements in economic conditions. However, many restrictions have not yet been removed and the economic situation has not yet returned to previous levels. As a result, the SBA has…
Read MoreSBA Hot Topic Tuesday – Changes to Accessing and Completing SBA Form 159 Effective Immediately
April 6, 2021 Caity RoachEditor SBA Hot Topic Tuesday – Changes to Accessing and Completing SBA Form 159 Effective Immediately Last Friday, the SBA’s Office of Performance and System Management (OPSM) announced changes to the access and completion of Form 159 (“Fee Disclosure Form and Compensation Agreement”). Form 159 is a required disclosure form that…
Read MoreMain Street Monday – Only 3% of Small Businesses Have Fully Returned to Pre-Pandemic Operations
April 5, 2021 Caity RoachEditor Main Street Monday – Only 3% of Small Businesses Have Fully Returned to Pre-Pandemic Operations PostcardMania, a marketing company specializing in lead generation for small businesses, recently conducted a survey of 254 small business owners to gauge how Main Street is faring one year after the start of pandemic-related shutdowns.…
Read MoreColeman Movers & Shakers – Arlene Villarin, Jessica Cohen, and Santa Cruz County Bank
April 1, 2021 Caity RoachEditor Coleman Movers & Shakers – Arlene Villarin, Jessica Cohen, and Santa Cruz County Bank Arlene Villarin Joins TMC Financing’s Southern California Team “We are thrilled that Arlene has decided to join our So-Cal team,” says Kurt Chambliss, Executive Vice President at TMC Financing. “Arlene is a go-getter and her background…
Read MoreC-Suite Wednesday – Metropolitan Small Businesses Disproportionately Impacted by the Pandemic
March 31, 2021 Caity RoachEditor C-Suite Wednesday – Metropolitan Small Businesses Disproportionately Impacted by the Pandemic A preliminary analysis of COVID-19’s economic impact on small businesses has revealed that metropolitan and coastal businesses were disproportionately affected by the pandemic. The SBA Office of Advocacy reports that in April 2020, the number of people in metropolitan…
Read MoreSBA Hot Topic Tuesday – Kurt Chilcott to Serve as Board Chair of Capital Impact Partners and CDC Small Business Finance
March 30, 2021 Caity RoachEditor SBA Hot Topic Tuesday – Kurt Chilcott to Serve as Board Chair of Capital Impact Partners and CDC Small Business Finance As of April 1, 2021, industry icon, Kurt Chilcott, who has served as CDC Small Business Finance’s President and CEO over the past 23 years, will transition to serve…
Read MoreMain Street Monday – Vaccine Distribution Increases Small Business Optimism
March 29, 2021 Caity RoachEditor Main Street Monday – Vaccine Distribution Increases Small Business Optimism Despite the growing availability of vaccines, most small business owners do not anticipate the economy returning to normal anytime soon. According to the U.S. Chamber of Commerce’s quarterly small business report, six out of ten (59%) small business owners now…
Read MoreFraud Friday – Former Loan Officer at Centennial Bank Charged With $3.4 Million Loan Fraud
March 26, 2021 Caity RoachEditor Fraud Friday – Former Centennial Bank Loan Officer Charged With $3.4 Million Loan Fraud Former Centennial Bank commercial loan officer, Jennifer Woods, has been indicted for allegedly facilitating unauthorized short-term, high-interest loans to Florida businessman, Jeffery Cannon. It is estimated Woods and Cannon embezzled over $3.4 million from the bank…
Read MoreFlash Report – Senate Passes the Paycheck Protection Program Extension Act
March 25, 2021 Caity RoachEditor Flash Report – Senate Passes the Paycheck Protection Program Extension ActOn Thursday, March 25, 2021, the U.S. Senate voted to approve the Paycheck Protection Program Extension Act. The bill extends the Paycheck Protection Program through the end of May and then provides the SBA with 30 days after the end…
Read MoreColeman Movers & Shakers – Mike Sandusky, Greg Gala, and Chris Henricks
March 25, 2021 Caity RoachEditor Coleman Movers & Shakers – Mike Sandusky, Greg Gala, and Chris Henricks Mike Sandusky joins First Bank of the Lake’s Government Guaranteed Lending Team “Mike is a dynamic and knowledgeable lender with years’ of experience,” says Annemarie Murphy, Executive Vice President at First Bank of the Lake. “He brings proven…
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