SBA to Eliminate Policy Requiring Loan Term Matching Lease Term — Waivers Available Now
This requires a change to the SOP that will take some time. So, before implementation SBA is offering waivers on a loan-by loan basis. From Ginger Rogers of SBA’s Office of Financial Assistance Linda and I will waive the lease requirement on a loan-by-loan basis. The SBA Lender’s email should provide enough information to identify…
Read MoreNorth Carolina SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 96 $126,244,000 $1,315,042 2 GBank (NV) 17 $51,976,200 $3,057,424 3 Pinnacle Bank (SC) 36 $32,516,200 $903,228 4 Bank of Oak Ridge (NC) 36 $30,815,900 $855,997 5 Dogwood State Bank (NC) 39 $29,185,500 $748,346 6 The Huntington National Bank (OH) 115…
Read MoreTreasury Warns Lenders, Small Biz Owners of $3 Billion ERC Mills COVID-19 Tax Credit Fraud
The November 22nd alert says the IRS has identified ongoing fraud and scams related to the ERC that have resulted in 323 investigations involving more than $2.8 billion of potentially fraudulent ERC claims. These fraudulent claims have disrupted the IRS’s ERC claim review process and created a significant backlog and caused delays in the processing…
Read MoreMontana SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 The Yellowstone Bank (MT) 10 $6,125,600 $612,560 2 Readycap Lending, LLC (NJ) 6 $5,451,500 $908,583 3 Lendistry SBLC, LLC (CA) 2 $5,380,000 $2,690,000 4 Stone Bank (AR) 1 $4,842,000 $4,842,000 5 Hanover Community Bank (NY) 1 $3,335,000 $3,335,000 6 Enterprise Bank & Trust (MO) 1…
Read MoreMatthew Bitar Appointed Senior Business Development Officer for Milestone Bank
“We look forward to Matt joining the Milestone Bank SBA team,” says Guy Gibson, Executive Vice President.of Salt Lake City-based Milestone Bank. “His expertise and passion will undoubtedly take us to new heights, and we can’t wait to see what incredible milestones we’ll achieve together.” Matt says, “There is no greater feeling in the banking…
Read MoreColeman Report Live! Link for Monday 11/27 1 pm Eastern
Here is the Microsoft Teams Invite for today’s Show at 1 pm Eastern You may also access out Youtube Live Stream at 1 pm Eastern Guests: John Reosti, American Banker Lance Sexton, Fountainhead Commercial Capital
Read MoreMississippi SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Peoples Bank (MS) 61 $25,154,700 $412,372 2 Southern AgCredit, FLCA (MS) 5 $13,864,000 $2,772,800 3 BankPlus (MS) 17 $13,629,200 $801,718 4 BankFirst Financial Services (MS) 26 $12,910,400 $496,554 5 Community Bank of Mississippi (MS) 34 $12,460,900 $366,497 6 First Financial Bank (AR) 14 $12,081,000 $862,929…
Read MoreFraud Friday – Dentist Charged for SBA Loan Fraud and Evading More Than $600,000 in Taxes
November 24, 2023 Delaney SextonContributing Editor Fraud Friday – Dentist Charged for SBA Loan Fraud and Evading More Than $600,000 in Taxes Matthew Johnson was indicted for orchestrating a fraud scheme that bilked the SBA of more than $3 million and for tax evasion. According to the indictment that was unsealed during Johnson’s initial court…
Read MoreGulf Coast Small Business Lending Announces Hiring of Steve Colburn and John Genga III
November 22, 2023 Delaney SextonContributing Editor Gulf Coast Small Business Lending Announces Hiring of Steve Colburn and John Genga III “Steve and John are fantastic additions to our Gulf Coast Small Business Lending team. They have many years of experience in the SBA industry, and it is great to have BDOs of their caliber representing…
Read MoreUSDA and SBA Join Forces for Rural Main Street
“Rural small businesses strengthen local economies – creating jobs and serving communities,” says SBA Administrator Isabel Casillas Guzman. “SBA’s partnership with USDA will build upon the Biden-Harris Administration’s commitment to investing in underserved rural Americans and providing the needed resources to help them start and grow their businesses to advance our economy and global competitiveness.”…
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