New California Small Business Loan Match Backed by the State of California
May 13, 2024 Delaney SextonContributing Editor New California Small Business Loan Match Backed by the State of California California Small Business Loan Match is a new no-cost lender-match tool that eases the process of finding trusted loans for California entrepreneurs. The tool provided by IBank’s Small Business Finance Center gathers dozens of lenders, most of…
Read MorePennsylvania Small Businesses: Five Fast Facts
May 13, 2024 Delaney SextonContributing Editor Pennsylvania Small Businesses: Five Fast Facts Source:SBA Office of Advocacy 2023 Pennsylvania Small Business Profile
Read MoreMom and Daughter Sentenced to a Combined 5.5 Years for $1.7 Million EIDL Fraud – Fraud Friday
May 10, 2024 Delaney SextonContributing Editor Mom and Daughter Sentenced to a Combined 5.5 Years for $1.7 Million EIDL Fraud – Fraud Friday Andrea Ayers was a former Code Enforcement Officer for the City of Mount Vernon Police Department, and she is the mother of Alicia Ayers. After carrying out an EIDL fraud scheme, both…
Read More64% of Small Business Owners Will Apply for Financing in the Next 12 Months Says TD Bank
May 9, 2024 Delaney SextonContributing Editor 64% of Small Business Owners Will Apply for Financing in the Next 12 Months Says TD Bank “One of the most important relationships business owners can develop is with their bank,” Amy Dinkar-Patel, Head of Small Business & Commercial Distribution, notes. “The right customer-banking relationship fosters trust, unlocks tailored…
Read MoreOregon Small Businesses: Five Fast Facts
May 9, 2024 Delaney SextonContributing Editor Oregon Small Businesses: Five Fast Facts Source:SBA Office of Advocacy 2023 Oregon Small Business Profile
Read MoreSpotting Borrower Fraud and Reporting to SBA’s OIG, as Required by Law – A Coleman Webinar 6/20
SBA Lender Loan Fraud Reporting Obligations A Coleman WebinarDate & Time: Thursday, June 20, 2024 at 2:00 p.m. Eastern(Includes Recording & E-Certification) SBA use of the word “must” is a requirement. Not a suggestion. Says SBA in SOP 5057 3 , “All SBA officials, Lenders, Borrowers contractors and others must report any known or suspected…
Read MoreBanks Continued to Tighten Credit Standards and Terms in the First Quarter
May 8, 2024 Delaney SextonContributing Editor Banks Continued to Tighten Credit Standards and Terms in the First Quarter The April 2024 Senior Loan Officer Opinion Survey released this week found that banks tended to have tighter standards and weaker demand for commercial and industrial (C&I) loans to businesses of all sizes in the first quarter.…
Read MoreOklahoma Small Businesses: Five Fast Facts
May 8, 2024 Delaney SextonContributing Editor Oklahoma Small Businesses: Five Fast Facts Source:SBA Office of Advocacy 2023 Oklahoma Small Business Profile
Read MoreColeman’s Certified SBA Loan Broker Training
Coleman’s Certified SBA Loan Broker Training – Includes Semi-Monthly Zoom Calls & 8 Weeks of Online Training Check out a clip from the course, where Bob Coleman interviews Chris Hurn, Founder and CEO of Fountainhead: Courses Have Started! The SBA loan broker is a key player in matching Main Street borrowers with SBA 7(a) and…
Read MoreAlmost $20 Billion is Approved in FY24 Under 7(a) and 504 Loan Programs
May 7, 2024 Delaney SextonContributing Editor Almost $20 Billion is Approved in FY24 Under 7(a) and 504 Loan Programs So far in fiscal year 2024, the number of approved 7(a) loans is 38,658. Small dollar loans make up a majority of approved loans since 56.2% of 7(a) loans are $150,000 or less. Almost $16.2 billion…
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