Maryland SSBCI Funds 27 Businesses – 1,300 Jobs in FY23 

Maryland’s SSBCI has committed more than $33 million to 27 applicants operating in historically underserved communities. Launched in August 2022, SSBCI created a partnership between three state agencies to administer up to $198 million in federal relief to small businesses.  The state’s SSBCI investment has leveraged an additional $190 million in  private capital.. “I’m grateful…

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Arizona SBA 7(a) Lenders Ranking for FY 2023

RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 41 $74,710,000 $1,822,195 2 Celtic Bank Corporation (UT) 32 $32,604,400 $1,018,888 3 St. Louis Bank (MO) 14 $26,154,000 $1,868,143 4 MidFirst Bank (OK) 22 $25,129,800 $1,142,264 5 Bell Bank (ND) 29 $24,468,600 $843,745 6 The Huntington National Bank (OH) 75…

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Arkansas SBA 7(a) Lender Ranking for FY 2023

RANK Lender # Loans $ Amount Average Loan Size 1 First Financial Bank (AR) 27 $35,579,800 $1,317,770 2 First Service Bank (AR) 21 $18,685,800 $889,800 3 Live Oak Banking Company (NC) 6 $13,790,800 $2,298,467 4 Arvest Bank (AR) 43 $12,216,000 $284,093 5 Arkansas Capital Corporation (AR) 25 $11,870,700 $474,828 6 Readycap Lending, LLC (NJ) 5…

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SBA Grants 143 Community Advantage Lenders SBLC License

What is the Community Advantage Loan Program? Maximum Loan is $350,000 Guaranty — 85% for loans up to $150,000, 75% for loans greater than $150,000, and 90% for International Trade loans Who can be a CA lender? The following types of organizations are eligible to become CA lenders: Lender portfolio requirements Lenders in the CA…

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The 50+ Technical Corrections You Must Know in the New SOP 5010 7.1 (Webinar 11/8)

A Coleman WebinarWednesday, November 8, 20232:00 pm Eastern 75-minute training with e-certificationRegister Your Entire Staff for One Fee Online Here The Technical Corrections Issued by SBA Join award winning webinar instructor Lance Sexton as he walks you through the important changes you and your staff need to know in this newly released SOP. Coleman Report…

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SBA 5010 7.1 Effective November 15, 2023

Download a PDF Copy of the SOP 5010 7.1 here Summary of Changes SECTION A: CORE REQUIREMENTS FOR ALL 7(A) AND 504 LOANS The chapters listed below have received updated titles. Chapter 1: Primary Applicant Eligibility Requirements Validated by SBA’s Risk Mitigation Framework Chapter 2: Credit Not Available Elsewhere, Special Transaction Structures, & Other Primary…

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Alabama SBA 7(a) Lender Ranking for FY 2023

RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 22 $35,021,500 $1,591,886 2 Synovus Bank (GA) 9 $20,736,400 $2,304,044 3 Newtek Small Business Finance, Inc. (NY) 12 $16,912,500 $1,409,375 4 Berkshire Bank (MA) 4 $11,063,400 $2,765,850 5 Readycap Lending, LLC (NJ) 11 $10,613,100 $964,827 6 SouthPoint Bank (AL) 8…

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Former Florida State Rep Jailed 4 Months for EIDL Loan Fraud

Joe Harding of Williston, Florida, was sentenced  for wire fraud, money laundering, and making false statements in the name of a dormant business. Joe was elected and took office November 8, 2022. He resigned 30 days later when indicted for loan fraud.  Joe obtained $150,000, made  a payment to his credit card, and transferred money…

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