Small Business Loan Volume, Delinquencies, Defaults all Increasing Says Paynet
Equifax’ small business loan data company Paynet October report predicts a further deterioration of small business lending credit loan portfolios. SBLI — Small Business Lending Index Tracks the number of new loans and leasers that are issued to small businesses in the past 30 days SBDI — Small Business Delinquency Index Tracks commercial debt that…
Read MoreMain Street Monday Link – 12/18/2023
Microsoft Teams Link YouTube Link Host: Bob Coleman Co-Host: Lance Sexton Monday Guest: John Reosti, American Banker
Read MoreTD Bank Tops New York SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 TD Bank, National Association (DE) 1,080 $128,775,800 $119,237 2 Manufacturers and Traders Trust Company (NY) 727 $90,909,300 $125,047 3 FinWise Bank (UT) 63 $68,230,000 $1,083,016 4 Live Oak Banking Company (NC) 42 $58,236,600 $1,386,586 5 JPMorgan Chase Bank, National Association (OH) 279 $54,296,400 $194,611 6…
Read MoreFraud Friday – Cattle Farmer Pleads Guilty to USDA, SBA, & Bankruptcy Fraud
December 15, 2023 Delaney SextonContributing Editor Fraud Friday – Cattle Farmer Pleads Guilty to USDA, SBA, & Bankruptcy Fraud An Iowa custom cattle farmer pled guilty to one count of theft of livestock, one count of wire fraud, and one count of false bankruptcy declaration. These are the details of his numerous crimes: Michael Wayne…
Read MoreZions Bank, US Bank Top Nevada SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Zions Bank, A Division of (UT) 45 $23,192,100 $515,380 2 Enterprise Bank & Trust (MO) 12 $22,053,000 $1,837,750 3 City National Bank (CA) 8 $21,789,500 $2,723,688 4 America First FCU (UT) 15 $20,542,700 $1,369,513 5 Newtek Small Business Finance, Inc. (NY) 29 $19,496,500 $672,293 6…
Read MoreSBA Loan 504 Defaults and Prepayments At All-Time Lows
Government Loan Solutions’ Bob Judge has updated his SBA 504 prepayment chart that contains excellent historical data for you stat nerds. Dating back to 1988, the chart shows SBA 504 loan prepayments are at all-time loans. This includes defaults as well prepayments from refinancing or sale of the property. Chat codes: CPR = Prepayment Rate…
Read MoreNew Mexico SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 8 $25,200,000 $3,150,000 2 Western Commerce Bank (NM) 40 $21,835,500 $545,888 3 Open Bank (CA) 4 $9,268,000 $2,317,000 4 Readycap Lending, LLC (NJ) 6 $8,899,000 $1,483,167 5 Peoples Bank (MS) 1 $5,000,000 $5,000,000 6 BMO Bank National Association (WI) 9…
Read MoreWhite House Recognizes Small Business Lenders at Summit
Touting SBA’s FY23 numbers, the Biden Administration invited its lending partners to the White House to recognize their achievements and to encourage them to do more for providing capital to underserved markets. Lenders attending the event included small business lending professionals “Last year, the SBA provided $50 billion in capital to small businesses nationwide, partnering…
Read MoreCorrectly Preparing SBA’s New FY 24 Universal Guaranty Purchase Package – Webinar Wed. January 3rd
SBA’s All New Universal Purchase Package for SBA 7(a) Loans, SBA 7(a) Small Loans Less than $500k and SBAExpress Attend the Live Webinar EventWednesday, January 3, 20242:00 PM Eastern75-minute training with e-certification Lenders must be correct and precise in their completion of SBA’s new SBA 7(a) guaranty purchase request — to receive payment and not…
Read MoreTwo California CDCs — Cen Cal Business Finance and Mid State Development to Merge
Fresno-based Cen Cal Business Finance Group and Bakersfield-based Mid State Development will merge. This follows Cen Cal’s merger with Santa Maria-based Central Coast in November. As of Dec. 1, 2023, Mid State had a total of 191 loans for $71.3 million, and Cen Cal had a total of 336 loans for $160.7 million. All employees…
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