Florida’s Centennial Bank Adds to Loan Loss Reserve, Addresses Payment Deferrals for Hurricane Impacted Customers
Main Street Monday — Florida’s Centennial Bank Adds to Loan Loss Reserve, Addresses Payment Deferrals for Hurricane Impacted CustomersOctober 14, 2024 Centennial Bank SBA 7(a) Rank $ Rank # Gross Loan Approval # Loans Average Loan Size FY 2024 250 347 $16.2 Million 17 $950,006 FY 2023 232 348 $17.2 Million 15 $1,146,667 FY 2022…
Read MoreFormer Southern Pine Credit Union Controller Must Pay $1.2 Million in Restitution to the Credit Union – Fraud Friday
October 11, 2024 Delaney SextonContributing Editor Former Southern Pine Credit Union Controller Must Pay $1.2 Million in Restitution to the Credit Union – Fraud Friday “The criminal behavior in these cases represent the most egregious betrayal of trust by two of this institution’s leaders, resulting in years of ill-gotten gains for the defendants, all while…
Read MoreUnderwriting Collateral for the SBA 7(a) Loan Credit Memo – Webinar 11/6
Guidance of SBA’s “All Available Collateral” vs the “Do What You Do” Rule A Coleman WebinarDate: Wednesday, November 6, 2024Time: 2:00 p.m. EasternIncludes e-certification & recording The SBA Standard Operating Procedure SOP clearly states that your underwriting analysis must demonstrate how the borrower will repay the loan from cash flow, not liquidation of collateral. In…
Read More52 Years in Prison for Nik Patel — Ex-Wife Gets 4+ Years in Last Chapter of Their USDA B&I Loan Fraud
52 Years in Prison for Nik Patel — Ex-Wife Gets 4+ Years in Last Chapter of Their USDA B&I Loan Fraud It appears the Feds have had enough with Nik Patel’s fraudulent loan activities and have come down hard on him, adding 27 years to his existing 25-year prison sentence for his latest $8.5 million…
Read MoreGayle Hoshstrasser Named Florida Sales Manager for First Capital Finance/Florida First Capital
Gayle Hoshstrasser Named Florida Sales Manager for First Capital Finance/Florida First Capital From the Press Release We are excited to announce that Sales Manager Gayle Hoshstrasser will now extend her talent and expertise to the Sunshine State as Florida Sales Manager. With more than 25 years of banking industry experience, Gayle has been an integral…
Read MoreTruliant #1 Credit Union SBA 7(a) Lender for 2024
SBA Hot Topic Tuesday — Truliant #1 Credit Union SBA 7(a) Lender for 2024. SBA Loan Department Staff Truliant Federal Credit Union, Charlotte, North Carolina By Bob Coleman Publisher & Founder Congratulations to Truliant Federal Credit Union, the FY24 #1 originator in the nation of SBA 7(a) loans for credit unions. SBA 7(a) Rank $…
Read MoreAvoid These Top 30 SBA 7(a) Loan Exceptions in FY25! – Webinar Encore 10/25
Mistakes Lenders Need to Avoid that Jeopardize the SBA 7(a) Loan Guaranty A Coleman Webinar Encore PresentationOctober 25, 20242:00 PM Eastern75-minute training with e-certification Juggling the management of your SBA lending department and loan portfolio is challenging and difficult — but rewarding on a number of levels for everyone when a plan is successfully executed.…
Read MoreGetting the SBA Guaranty Paid on the Early Defaulted 7(a) Loan – Webinar Encore 10/24
Preparing the UPP Package when the loan is delinquent in the first 18 months. A Coleman WebinarDate & Time: October 24, 2024 at 2:00PM Eastern(Includes Recording & E-Certification) The Big News out of the April 2024 Mid-America SBA Lenders Conference is the major increase in the number of early defaulted SBA 7(a) loans submitted to…
Read MoreLegal Loan Broker Fees: SBA Form 159 Mandatory Disclosures — Webinar Encore 10/22
Loan Broker Fees Charged to the Borrower Loan Broker Fees Paid by the Lender A Coleman Webinar Encore PresentationTuesday, October 22, 20242:00 PM Eastern75-minute training with e-certification Are you confident SBA loan broker fees and compliance disclosures can withstand scrutiny? Ensuring full compliance with SBA’s rules around loan fees and disclosures for loan brokers and…
Read MoreHow SBA’s Proposed Changes to the Lender Risk Rating System Affect You — Webinar Encore 10/21
SBA’s New Redwood Small Business Credit Score A Coleman Webinar EncoreMonday, October 21, 20242:00 PM Eastern75-minute training with e-certification Hosted by Bob Coleman; Instructed by Brent Ciurlino and Leslie Tripp Impacts of the new SOP 50 56 – Lender Participation Requirements: Are you struggling to stay ahead of the curve in the ever-evolving SBA lending…
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