Jana Rouble, Senior Vice President tells the Coleman Report “Happy New Year, Bob! We are proud to announce that our team closed 28 loans in December to wrap up 2023. You’ll see 4 of those loans featured here. As a subsidiary of Citizens Bank, we are a preferred small business lender (PLP*) with a national…

Santa Cruz County Bank made 23 loans totaling $22.6 million in Silicon Valley for a #1 ranking by number and #3 in volume for FY23. Says Santa Cruz County Bank’s SVP, Director of SBA Lending, Susan Chandler “Our lending volume confirms our commitment to supporting small businesses to promote economic development and job growth. We…

Writes SBA Administrator Guzman to Congress “SBA will begin referring PPP and COVID EIDL small business borrowers with loans under $100,000 in default to the Treasury for IRS-led and third-party collection activities. As you are aware, currently those with loans $100,000 and over in default are already referred to the Treasury.” Read the Letter

Two transactions generated loans with Puerto Rico-based FirstBank totaling $910,000 with the State Small Business Credit Initiative 2.0 program providing $493,250 in loan guarantees—one a St. Croix-based restaurant and the other a St. Thomas fishing supply operation—retaining 14 jobs and creating eight new employment opportunities in the territory. Wayne L. Biggs Jr., chief executive officer…

RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 28 $41,657,000 $1,487,750 2 The Huntington National Bank (OH) 83 $21,882,600 $263,646 3 Newtek Small Business Finance, Inc. (NY) 41 $19,395,500 $473,061 4 The First Bank and Trust Company (VA) 33 $18,033,600 $546,473 5 First National Bank of Pennsylvania (NC)…

Coleman offers all SBA SOPs for purchase on Amazon in either paperback or hardcover form. The recently released SBA SOP 50 10 7.1 is now available! The new updates made to the SBA SOP 50 10 7, resulting in the 50 10 7.1, were made effective on November 15, 2023. Buy your copy today View…

RANK Lender # Loans $ Amount Average Loan Size 1 Mountain America FCU (UT) 139 $41,157,600 $296,098 2 America First FCU (UT) 31 $32,141,100 $1,036,810 3 Central Bank (UT) 75 $30,841,600 $411,221 4 Zions Bank, A Division of (UT) 95 $24,771,800 $260,756 5 Live Oak Banking Company (NC) 16 $24,100,000 $1,506,250 6 Community Banks of…

What the Lender and Borrower Need to Know in Completing the 7-Page Form Attend the Live Webinar EventWednesday, January 17, 20242:00 PM Eastern75-minute training with e-certification With the elimination of SBA form 1920, the SBA 7(a) Borrower Information form 1919 is a very critical factor in the underwriting, approval and closing of the 7(a) loan.…

SBA revised and renewed SBA Form 1919, “SBA 7(a) Borrower Information Form”; and SBA Form 2237, “7(a) Post-Approval Action Checklist”. SBA renewed without revision SBA Form 1971, “Religious Eligibility Worksheet”. SBAeliminated SBA Form 1920, “Lender’s Application for Loan Guaranty”; and is replacing SBAForm 2449, “Community Advantage Addendum (7(a) Pilot Program)” with the new SBA Form3518,…