May 19, 2023 Delaney SextonContributing Editor Fraud Friday – Former Bank VP Pleads Guilty to $600,000 Loan Fraud and Arson “Richard Pigg not only used his professional position to deceive his victims and defraud the bank that employed him, he also risked the lives and safety of our heroic first responders when he chose to…

May 18, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Mike Sarthou, Merri Adams, and Guy Wenzel Mike Sarthou & Merri Adams Join TMC Financing to Amplify SBA 504 Lending in Southern California  “We are thrilled to welcome Merri and Mike to our Southern California team,” says Barbara Morrison, Founder and President of TMC…

May 17, 2023 Delaney SextonContributing Editor C-Suite Wednesday – The House Committee Part II Hearing on Rule Changes to be Held Today Today, the House Committee on Small Business will hold the second part of their hearing last week: “Taking on More Risk: Examining the SBA’s Changes to the 7(a) Lending Program Part II.” The…

May 16, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Representatives Concerned Over New Underwriting Standards and SBA Oversight Abilities “There are serious concerns that these changes to the program will be detrimental to taxpayers and small businesses alike. If more loans start to default, the fees to the program are going to have…

May 15, 2023 Delaney SextonContributing Editor Main Street Monday – Continuous Climbing Interest Rates Burden Small Businesses “Now, the economy appears to be slowing. That will mean that the Fed will be under pressure to cut rates to stimulate the economy and support employment,” writes Bill Dunkelberg, the NFIB’s Chief Economist. “While savers are happily…

May 12, 2023 Delaney SextonContributing Editor Fraud Friday – Almost 200 Fraudulent Applications Lead to a 2+ Year Prison Sentence “The theft of any amount of taxpayer funds is inexcusable but stealing over $4.8 million dollars from honest, hardworking Americans truly in need of pandemic relief is simply abhorrent,” says U.S. Attorney Jason Coody. A…

Coleman’s 2023 SBA 7(a) Lender Compensation SurveyOur 30th Year! SBA Department ManagerSBA Sales ManagerSBA Business Development OfficerSBA Loan PackagerSBA Loan UnderwriterSBA Loan CloserSBA Loan Servicer/Liquidator $1600 for the 7-Report Bundleor $550 per report Order Online Here This year’s survey includes; ● Average Base Salary● Average Total Compensation● Salary Range● Compensation Range All the Performance Data…

May 11, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Jordan Hallam and Asu Suka SouthState Names Jordan Hallam as Director of Government Guaranteed Lending Jordan Hallam is promoted to director of Government Guaranteed Lending following the retirement of Mark Bryant. Hallam has been with SouthState for more than 11 years and most recently…

The effective date for the new SOP 50 10 7 is August 1, 2023. Download SOP 50 10 7 New Changes Include: Expectations:There will probably be a new 1919 coming out soon to reflect the changes in the SOP.There is no longer a requirement for a SBA loan authorization.Expect to see changes in the near…

May 10, 2023 Delaney SextonContributing Editor FLASH: SBA Publishes Loan Authorization Removal and Affiliation Procedural Notices Ahead of Final Rule Implementation “The Office of Capital Access announces a Procedural Notice on the implementation of SBA’s Final Rule on Affiliation and Lending Criteria for the SBA Business Loan Programs (88 FR 21074, effective May 11, 2023)…