November 26, 2024 Bob ColemanFounder & Publisher SBA Hot Topic Tuesday — NADCO Honors Mountain America as #1 SBA 7(a) Credit Union for FY 2024 “Supporting small businesses is a true honor for us as they play a crucial role in enriching our communities,” says Michael Griffiths, Senior Vice President of Business Lending at Mountain…

November 25, 2024 Bob ColemanFounder & Publisher Main Street Monday — Differences in Small Bank vs Large Bank Small Business Lending Data Collection From the FDIC October 2024 Small Business Lending Survey – See HERE While banks use various methods to assess small businesses, small and large banks are believed to have distinct advantages in…

November 22, 2024 Delaney SextonContributing Editor Man Indicted for Using His Deceased Business Partner’s Identity for Fraud Scheme – Fraud Friday Stephen Gurba was charged with five counts of wire fraud, false statements, and aggravated identity theft after he submitted EIDL applications containing the information of his former business partner. He will have to forfeit…

November 21, 2024 Bob ColemanFounder & Publisher Movers & Shakers Thursday: Patrick Mizzell, Brian Oatsvalle Patrick Mizzell Named President of United Community’s SBA Division ”Throughout his time here, Patrick has developed into an exceptional leader, and I am excited for him to embrace this new opportunity,” says Rich Bradshaw, president and chief banking officer for…

November 20, 2024 Bob ColemanFounder & Publisher SBA Issues PPP FAQs The 8-page documentation is attached. A key point of emphasis is that lenders who still need to submit guarantee purchase requests are now under a 30-day deadline imposed by SBA to submit documentation when requested. The FAQs answer the following questions: 1. What is…

November 19, 2024 Bob ColemanFounder & Publisher 90% of Small Banks Meet with Small Business Loan Applicants — Versus 40% for Large Banks Among the largest banks the practice of decision makers meeting with applicants is fairly rare — less than 25% of the time.  However, 95% of banks with less than $500 million in…

November 18, 2024 Bob ColemanFounder & Publisher Main Street Monday — NFIB Says Small Business Optimism Increasing Since Election Now that the election is over, the NFIB Small Business Optimism Report indicates that Main Street is beginning to feel less uncertain about future business conditions. NFIB Chief Economist Bill Dunkelberg states, “Although optimism is on…