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…
Read MoreArizona 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…
Read MoreArkansas 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…
Read MoreSBA 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…
Read MoreThe 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…
Read MoreSBA 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…
Read MoreAlabama 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…
Read MoreFormer Pacific Premier Bank SBA Savvy Execs Startup New California Bank — Icon Business Bank
One of the new banks approved by the FDIC in 2023 has opened its doors. The former president of Security Bank and SR. VP of Pacific Premier Bank has anew gig — President & CEO of newly formed ICON Business Bank. Edward Hwang’s promises ICON Business Bank is a financial institution built around “people” driven…
Read MoreFormer 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…
Read MoreThe 16th Annual SBA Secondary Market Summit; Washington D.C. — Thurs December 7th, 2023
We’re Back! Believe it or not it’s been four years since we last met in DC — December 2019 before all the craziness. Dramatic changes abound, but the old guard remains. Bob Judge will bring his decades of industry knowledge and expert insight to give us a glimpse of what to expect in 2024. Bob…
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