Man Indicted for Using His Deceased Business Partner’s Identity for Fraud Scheme – Fraud Friday
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…
Read MoreMovers & Shakers Thursday: Patrick Mizzell, Brian Oatsvalle
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…
Read MoreSBA Issues PPP FAQs
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…
Read More90% of Small Banks Meet with Small Business Loan Applicants — Versus 40% for Large Banks
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…
Read MoreMain Street Monday — NFIB Says Small Business Optimism Increasing Since Election
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…
Read MoreSBA Collateral Insurance Coverage: New Updates for 2025 — 3/19
Cancellation Strategies — Force Place or Waive?Analysis Required in the Credit Memo Servicing Action Documentation Required for the File A Coleman WebinarDate: Wednesday, March 19, 2025Time: 2:00 p.m. EasternIncludes e-certification & recording One of the topics at a recent NAGGL conference was how SBA lenders must react to a recent movement by the insurance industry…
Read MoreSBA SOP 50 57 3.1 Certified Online Training
SBA Servicing & Liquidation SOP 50 57 3.1: Effective December 1Secure Your Bank’s Compliance and Competitive Edge through Coleman Training Attention senior SBA lending professionals: The SBA’s game-changing SOP 50 57 3.1 for servicing and liquidation will be effective December 1. Prepare to capitalize on these pivotal changes. Join nationally acclaimed SBA expert Lance Sexton…
Read MoreMovers & Shakers Thursday — Milestone Bank Adds JP Prinz to BDO Team
Movers & Shakers Thursday — Milestone Bank Adds JP Prinz to BDO TeamNovember 14, 2024 Bob Coleman “We are excited to welcome JP Prinz to the Milestone SBA Team. As an industry veteran, he brings a strong credit background with years of high volume origination of SBA 7(a) loans,” says Guy Gibson, Milestone Bank EVP.…
Read MoreBank Interim CEO and a Board Member Prohibited from the Banking Industry – Fraud Friday
November 15, 2024 Delaney SextonContributing Editor Bank Interim CEO and a Board Member Prohibited from the Banking Industry – Fraud Friday This week, the Federal Reserve Board announced that Anthony R. Gressak III and James T. Chung are prohibited from participating in the banking industry in the future due to fraudulently obtaining COVID loans. Anthony…
Read MoreSmall Business Loan Supply Tightens Says Fed
Small Business Loan Supply Tightens Says FedNovember 13, 2024Bob Coleman Every quarter, the Federal Reserve Board of Governors releases a Senior Loan Officer Opinion Survey on bank lending practices. While the report addresses the entire scope of a lender’s portfolio, this analysis focuses on small business loans. Terms for small business loans tightened over the…
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