Four New SBLC Licenses Were Authorized to Support Underserved Communities
December 24, 2024 Delaney SextonContributing Editor Four New SBLC Licenses Were Authorized to Support Underserved Communities “For the second time in over 40 years, the Biden-Harris SBA welcomes new lenders with a shared mission of filling capital gaps in underserved communities – the very same communities who are starting businesses at the highest rates in…
Read MoreSmall Businesses are Positive About Future Business Operations in 2025
December 23, 2024 Delaney SextonContributing Editor Small Businesses Are Positive About Future Business Operations in 2025 “The growing optimism among small business owners since the beginning of the year is a positive sign as we move into 2025 and potentially points to increasing opportunities in the new year,” says Bradd Chignoli, executive vice president and…
Read MoreSpotting & Reporting Borrower Fraud Certified Online Training
Certified Online Training1 Hour of Content Split Into 6 ModulesLed by Lance Sexton SBA Lender Loan Fraud Reporting Obligations SBA use of the word “must” is a requirement. Not a suggestion. Says SBA in SOP 5057 3 , “All SBA officials, Lenders, Borrowers contractors and others must report any known or suspected irregularities involving SBA…
Read MoreFormer Bank SVP Sentenced to 16 Months After His Scheme Cost the Bank $1 Million – Fraud Friday
December 20, 2024 Delaney SextonContributing Editor Former Bank SVP Sentenced to 16 Months After His Scheme Cost the Bank $1 Million – Fraud Friday From 2013 to 2019, John Padilla served as a senior vice president and commercial loan officer at a BancFirst location in Oklahoma. During his time at the bank, he recruited other…
Read MoreLenders Cooperative and Ventures Lending Technologies Announce Merger
December 19, 2024 Delaney SextonContributing Editor Lenders Cooperative and Ventures Lending Technologies Announce Merger Lenders Cooperative and Ventures Lending Technologies announced their intent to merge, creating an entity that will deliver best-in-class commercial loan origination and integrated commercial loan servicing capabilities to a wide range of financial institutions. This merger will combine what had been two separate processes…
Read MoreAmerican Business Bank Announces New Loan Production Office in San Diego, CA
December 19, 2024 Delaney SextonContributing Editor American Business Bank Announces New Loan Production Office in San Diego, CA “While serving the best clients in Southern California, we knew San Diego was an inevitable and strategic location,” says Leon Blankstein, CEO of ABB. “Our team of highly talented bankers have experience serving the San Diego market…
Read MoreSBA Increases 7(a) Loan Limit to $500,000, Increase Footprint, for Select Community Advantage Lenders
December 18, 2024 Delaney SextonContributing Editor SBA Notice Says that CA SBLCs Loan Ceiling Will Be Increased to $500,000 SBA’s most recent information notice announces that they are entering a process that will allow Community Advantage Small Business Lending Companies to make loans of up to $500,000. The notice also states that CA SBLCs can…
Read MoreSecondary Market Summit 2024 Highlights
John Wade Inducted into the Secondary Market Hall of Fame
December 17, 2024 Delaney SextonContributing Editor John Wade Inducted into the Secondary Market Hall of Fame The Secondary Market Summit chairs Bob Judge of Government Loan Solutions, Marty Teckler of Blank Rome, and Bob Coleman of the Coleman Report were unanimous in this year’s choice for the Hall of Fame award: John Wade. John recently…
Read MoreSenator Ernst Introduced a Bill That Would Move 30% of SBA Employees Across the Country
December 16, 2024 Delaney SextonContributing Editor Senator Ernst Introduced a Bill That Would Move 30% of SBA Employees Across the Country The “Returning SBA to Main Street Act” would relocate SBA employees assigned to SBA headquarters in Washington D.C. to other offices in regions around the United States. Senator Joni Ernst’s goal is to promote…
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