Four HOAs and Country Clubs Paid $5.8 Million to Settle PPP False Claims Act Allegations – Fraud Friday
June 14, 2024 Delaney SextonContributing Editor Four HOAs and Country Clubs Paid $5.8 Million to Settle PPP False Claims Act Allegations – Fraud Friday One individual, Wade Riner, filed several lawsuits under the False Claims Act in August 2022. One lawsuit alone alleged that dozens of Colorado condominiums, homeowners associations, and country clubs knowingly applied for…
Read MoreLegal Obligations for Managing the SBA Loan Broker — Webinar 7/10
● Your SBA Loan Brokers — Are They Following the Rules?● Lender Responsibility for the Actions of their Referral Sources Attend the Live Webinar EventWednesday, July 10, 20242:00 PM EasternIncludes recording & e-certification Are you a SBA lender struggling to navigate the complex web of regulations and compliance requirements with your loan brokers? Referrals from…
Read MoreReady Capital Announces the Acquisition of Madison One
June 13, 2024 Delaney SextonContributing Editor Ready Capital Announces the Acquisition of Madison One Ready Capital Chief Executive Officer, Thomas Capasse says: “We’re excited to acquire Madison One, a leading USDA loan originator and servicer. The transaction is expected to generate more than $300 million of USDA volume annually, expanding our government-guaranteed small business offerings,…
Read MoreSBA 7(a) Lending Stats by Loan Size
June 13, 2024 Delaney SextonContributing Editor SBA 7(a) Lending Stats by Loan Size For fiscal year 2024, these are the lending statistics by loan size as of June 12, 2024:
Read MoreColeman California Update
“As California goes, so does the nation,” is a saying that mocks and praises the state. California as a separate entity ranks as the 5th largest global economy. The Great State wields unique power in shaping policy. And, that is true in small business lending — affecting lenders and borrowers. Coleman’s California Update will give…
Read MoreSmall Businesses’ Share of Total Revenue is Falling Behind
June 12, 2024 Delaney SextonContributing Editor Small Businesses’ Share of Total Revenue is Falling Behind Receipts are defined as “operating revenue for goods produced or distributed or for services provided.” In 1963, small businesses had receipts of $3.26 trillion, making up 56.8% of all receipts. Since then, larger businesses have been able to grow much…
Read MoreSBA 7(a) Lending Stats By Veteran Status
June 12, 2024 Delaney SextonContributing Editor SBA 7(a) Lending Stats By Veteran Status For fiscal year 2024, these are the lending statistics by veteran status as of June 11, 2024:
Read MoreColeman USDA Rural Loan Update
The $5 Billion Guaranty Commercial Loan Programs for Rural America;Includes a Semi-Monthly Report and a Monthly Zoom Call USDA’s B&I, Rural Energy and Community Facilities guaranty loan programs are an excellent complement product for SBA lenders. But, the logistics are different. Bob Coleman says “Consider this analogy. SBA 7(a) loan production is an assembly line…
Read More6% of Small Business Owners Say Financing is their Top Business Concern
June 11, 2024 Delaney SextonContributing Editor 6% of Small Business Owners Say Financing is their Top Business Concern The NFIB Optimism Index rose 0.8 of a point in May, which is the highest reading so far this year. Small business owners’ uncertainty was much stronger this month. The Uncertainty Index increased by 9 points to…
Read MoreSBA 7(a) Lending Stats By Gender
June 11, 2024 Delaney SextonContributing Editor SBA 7(a) Lending Stats By Gender For fiscal year 2024, these are the lending statistics by gender as of June 9, 2024:
Read More