SBA Publishes Procedural Updates, Effective Immediately
December 10, 2024 Delaney SextonContributing Editor SBA Publishes Procedural Updates, Effective Immediately On Monday, SBA published a procedural notice with a variety of updates for the 7(a) and 504 programs. The changes primarily focus on the SOP 50 10 7.1, but there are changes to look out for that apply to the SOP 50 55.…
Read MoreSBA’s SOP: Master the 2025 7(a) and 504 Loan Program Changes – 12/18
Effective Immediately! A Coleman WebinarDate: Wednesday, December 18, 2024Time: 2:00 p.m. EasternIncludes e-certification & recording A new 14-page procedural notice from the SBA, effective December 6th, introduces several changes to SBA’s underwriting SOP 5010 7.1, as well as the servicing and liquidation of 7(a) and 504 loans. This end-of-year notice contains important policy clarifications for…
Read MoreFormer Georgia US Senator Kelly Loeffler has been nominated by President-Elect Trump to be the new head of the SBA
December 9, 2024 Bob ColemanFounder & Publisher Former Georgia US Senator Kelly Loeffler has been nominated by President-Elect Trump to be the new head of the Small Business Administration Kelly was chosen by Governor Brian Kemp in 2020 to fill the seat of Senator Johnny Isakson, a great Main Street advocate who retired for health…
Read MoreAn Arkansas Man Will Spend 16 Years in Prison for $16 Million EIDL Fraud – Fraud Friday
December 6, 2024 Delaney SextonContributing Editor An Arkansas Man Will Spend 16 Years in Prison for $16 Million EIDL Fraud – Fraud Friday Yesterday, Tyler Keith Andrews was handed down a lengthy sentence for fraudulently applying for COVID-19 EIDLs and helping others apply for funding. District Judge Thomas O. Rice sentenced Andrews to a year…
Read MoreMovers & Shakers Thursday — Needham Bank Names Jonah Bowman VP, Small Business Production Manager
December 5, 2024 Bob ColemanFounder & Publisher Movers & Shakers Thursday — Needham Bank Names Jonah Bowman VP, Small Business Production Manager “Jonah’s lending experience and skills in developing efficient processes will be a great help as we enhance our lending capabilities,” says Brian, Senior Vice President, Director of Middle Market. “His ability to streamline…
Read MoreCommunity Advantage Loans Increased to $500,000, Make Program Permanent Says White House
December 3, 2024 Bob ColemanFounder & Publisher Community Advantage Loans Increased to $500,000, Make Program Permanent Says White House From Friday’s Nov 29 press releases, “Today, the SBA is announcing an increase of the maximum loan amount backed by their Community Advantage Small Business Lending Companies (CA SBLCs) from $350,000 to $500,000 for active lenders…
Read MoreMain Street Monday — Over 275 Illinois State Employees Committed PPP Loan Fraud
December 2, 2024 Bob ColemanFounder & Publisher Main Street Monday — Over 275 Illinois State Employees Committed PPP Loan Fraud The PPP loan fraud investigation by the state of Illinois continues to grow, with now more than 275 employees accused of fraud. Employees lied about being self-employed and provided false information about their income to…
Read MoreBlueacorn Founders Indicted for Facilitating PPP Fraud & Illegal Kickbacks – Fraud Friday
November 29, 2024 Delaney SextonContributing Editor Blueacorn Founders Indicted for Facilitating PPP Fraud & Illegal Kickbacks – Fraud Friday Two years after a scathing congressional report, the Department of Justice handed down charges to Blueacorn founders Nathan Reis and former ABC news anchor Stephanie Hockridge. They have pleaded not guilty to five counts of fraud…
Read MoreColeman Onsite SBA Loan Credit Policy Workshop
Construct Your Unique, Compliant SBA Loan Credit Policy Now!One-Day Event in March 2025 For SBA 7(a) and 504 Lenders and CDCs March 2025Location TBD Early Bird $1295 (paid by 1/29/24)Regular Registration $1395At the Door Registration (2/?/25) $1495 Join Coleman’s Award-Winning SBA National Training Team in February 2025! Are you ready to strengthen your SBA loan…
Read MoreNADCO Honors Mountain America as #1 SBA 7(a) Credit Union for FY 2024
November 26, 2024 Bob ColemanFounder & Publisher SBA Hot Topic Tuesday — NADCO Honors Mountain America as #1 SBA 7(a) Credit Union for FY 2024 “Supporting small businesses is a true honor for us as they play a crucial role in enriching our communities,” says Michael Griffiths, Senior Vice President of Business Lending at Mountain…
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