Fraud Friday – SBA Express Loan Scheme Leads to Guilty Pleas from 2 Loan Brokers
June 23, 2023 Delaney SextonContributing Editor Fraud Friday – SBA Express Loan Scheme Leads to Guilty Pleas from 2 Loan Brokers Two loan brokers pled guilty to conspiracy to commit bank fraud after defrauding the SBA and a Massachusetts bank. The SBA Express loan scheme they carried out earned the fraudsters $270,000 while the bank…
Read MoreColeman Movers & Shakers – Suria El Bietar, Seth Hallock, and Jason Torres
June 22, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Suria El Bietar, Seth Hallock, and Jason Torres Ameritrust CDC Introduces Suria El Bietar, Vice President of Business Development Suria has been a licensed commercial real estate broker in Washington State and has worked in commercial real estate for the last 25 years. Suria has…
Read MoreC-Suite Wednesday – Small Businesses are Spending More Money in 2023
June 21, 2023 Delaney SextonContributing Editor C-Suite Wednesday – Small Businesses are Spending More Money in 2023 In 2023, the NFIB found that small business spending has been higher compared to their average spending in 2022. When small businesses made capital outlays in the last few months, they have also been spending a greater amount…
Read MoreSBA Hot Topic Tuesday – Bankers are Reporting Tightening Credit Standards and Less Demand
June 20, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Bankers are Reporting Tightening Credit Standards and Less Demand Recently published by the SBA Office of Advocacy, the June 2023 Small Business Economic Bulletin informs that most small business indicators are looking positive. “However, instability in the banking sector and increasing interest rates could…
Read MoreFraud Friday – The Success of Pandemic Relief Outweighs the Fraud
June 16, 2023 Delaney SextonContributing Editor Fraud Friday – The Success of Pandemic Relief Outweighs the Fraud “To state the obvious, it is bad to defraud the government, and it is good that the money is being recovered. But this is simply less notable than the millions of people whose lives were saved and improved…
Read MoreColeman Movers & Shakers – Lee Golden, Paul Jastrzebski, and Five Star Bancorp
June 15, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Lee Golden, Paul Jastrzebski, and Five Star Bancorp Sanibel Captive Community Bank Adds an SBA Lending Unit Led By Lee Golden “For many small business owners, finding the right source of funding can be difficult,” SanCap President and CEO Kyle DeCicco says in the…
Read MoreNew SOP 50 57 3 Released — 7(a) Loan Servicing and Liquidation — 7/22
SOP 50 57 37(a) Loan Servicing and LiquidationEffective August 1, 2023 Coleman WebinarNew SOP 50 57 37(a) Loan Servicing and LiquidationDate: Thursday, June 22, 2023 The new SBA SOP 5057 challenges lenders to new requirements and responsibilities in the first revision to 7(a) servicing and liquidation rules since 2015. Effective August 1, 2023, the SBA…
Read MoreC-Suite Wednesday – How SBA Lenders Can Determine Franchise Eligibility
June 14, 2023 Delaney SextonContributing Editor C-Suite Wednesday – How SBA Lenders Can Determine Franchise Eligibility SBA lenders must obtain the Franchise Disclosure Document (FDD) which contains information about the franchisor and the franchisee system. This includes the franchisor’s background, the costs and fees associated with the franchise, the obligations of the franchisor and franchisee,…
Read MoreFutureproof your Credit Department: Technology that Delivers – Brought to You by Biz2X – Webinar 6/21
Register here: Futureproof your Credit Department: Technology that DeliversWed, Jun 21, 2023 2:00 PM – 3:15 PM EDThttps://global.gotowebinar.com/register/648155099Dial +1 (415) 930-5321Access Code: 687-429-760Audio PIN: Shown after joining the webinarWebinar ID: 648-155-099
Read MoreHot Topic Tuesday – Average Interest Rate for Short-Term Loans Drop in May
June 13, 2023 Delaney SextonContributing Editor Hot Topic Tuesday – Average Interest Rate for Short-Term Loans Drop in May “For small businesses, it is the availability of credit, and not its cost, that is important to owners. Since April 2020, the average loan rate paid by owners has risen from 4% to over 8%, but…
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