SBA Office of Advocacy Reports Weak Small Business Loan Supply and Demand
In the last year and a half, bankers have been reporting tightened credit standards and weaker demand for C&I (commercial and industrial) and CRE (commercial real estate) loans. The SBA Office of Advocacy reports that loan demand has dropped more than it did around the pandemic. Business lending grew between June 2022 and June 2023.…
Read MoreColeman Report Live! January 19, 2024 — Fraud Friday @ 1pm EST
Host: Bob Coleman, Owner/Editor, Coleman ReportCo-Host: Lance Sexton, Contributor, Fountainhead CCGuest: Delaney Sexton, Editor, Coleman Report Watch on Microsoft Teams Watch on YouTube
Read MoreFormer SBA Administrator Hector Barreto Sentenced to 20 Months in Prison for Embezzlement Fraud
January 12, 2024 Delaney SextonContributing Editor Fraud Friday – Former SBA Administrator Barreto Sentenced to 20 Months in Prison For Embezzlement Fraud of Underprivileged Youth Programs “You all were rising stars in your respective communities – and it’s a sad day,” Judge Pullman tells Hector Barreto and his co-defendant. Calling them “poster children for all…
Read MoreFraud Friday – Former SBA Administrator Barreto Sentenced to 20 Months in Prison for Embezzlement Fraud of Underprivileged Youth Programs
January 12, 2024 Delaney SextonContributing Editor Fraud Friday – Former SBA Administrator Barreto Sentenced to 20 Months in Prison For Embezzlement Fraud of Underprivileged Youth Programs “You all were rising stars in your respective communities – and it’s a sad day,” Judge Pullman tells Hector Barreto and his co-defendant. Calling them “poster children for all…
Read MoreCommunity National Bank and Heritage Family FCU Top Vermont Lender SBA 7(a) FY23 Rankings
RANK Lender # Loans $ Amount Average Loan Size 1 Community National Bank (VT) 21 $2,527,500 $120,357 2 Heritage Family FCU (VT) 20 $2,499,800 $124,990 3 TD Bank, National Association (DE) 17 $2,554,000 $150,235 4 New England FCU (VT) 17 $1,272,300 $74,841 5 Manufacturers and Traders Trust Company (NY) 8 $514,900 $64,363 6 Woodsville Guaranty…
Read MoreGreater Commercial Lending Finances SBA 7(a) $4.8 Million for South Lake Tahoe Food Hall
The loan will help Cascade Kitchens transform an existing building into an innovative culinary hub. The revitalized space will include a food hall hosting various vendors, a commercial kitchen available for rent and a bar. “GCL is proud to support projects like Cascade Kitchens in South Lake Tahoe, California,” says Jeremy Gilpin, president of GCL.…
Read More5 Takeaways from the 7(a) Connect Quarterly Update
5 Takeaways from the 7(a) Connect Quarterly Update On Tuesday, January 9, SBA held the 7(a) connect call where they discussed the most recent and pertinent SBA updates. Here are five takeaways from the call: Watch the 7(a) Connect Quarterly Call on the Coleman Report YouTube page!
Read MoreWoodforest National Bank Lends $1.5 Milllion to Dreamspring CDFI For MicroLoans
The Woodforest National Bank loan allows DreamSpring to provide microloans across 10 shared footprint states: Alabama, Florida, Georgia, Illinois, Louisiana, Mississippi, North Carolina, New York, South Carolina, and Texas. “Our collaboration with Woodforest widens the path for entrepreneurs to access much-needed capital and business resources,” says Anne Haines, President and CEO of DreamSpring. “With Woodforest…
Read MoreColeman Report Live! Fraud Friday — January 12, 2024 — Former SBA Administrator Barreto Sentenced to 20 Months in Prison for Embezzlement Fraud of Underprivileged Youth Programs
Watch on Microsoft Teams Watch on YouTube
Read MoreWorkout 101: Strategies for Effective Loan Workouts — Webinar January 23, 2024 at 1PM EST
The next webinar in the series presented by Clark Street Capital is here! This is a free webinar. Join for a fantastic webinar from four experts with decades of experience at major financial institutions. This highly topical webinar will cover: • Credit deterioration and early warning signs• Prudent CRE Loan Accommodations and Workouts Guidance• Managing the relationship transfer…
Read More