Bankers Expect Higher Loan Demand and Deteriorating Credit Quality in 2024
February 7, 2024 Delaney SextonContributing Editor Fed Says Bankers See Higher Small Business Loan Demand and Increased Delinquencies in 2024 Many bankers predict a decline in credit quality for commercial loans to small businesses in 2024. According to the Federal Reserve, small businesses are defined as those with annual sales below $50 million. Looking ahead,…
Read MoreMomentus Securities Granted Exclusive SBA 7(a) Pool Assembler Status to Provide Enhanced Business Support
February 6, 2024 Delaney SextonContributing Editor Momentus Securities Receives SBA 7(a) Pool Assembler Status “This is an opportunity to provide enhanced secondary market liquidity to mission-driven lenders that primarily serve business owners working in underserved communities,” says Jaime Aldama, Head of Capital Markets for Momentus Securities, part of the Momentus Capital branded family of organizations.…
Read MoreLive Oak Bank Tops Wyoming SBA 7(a) Lender FY23 List
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 5 $9,700,000 $1,940,000 2 Newtek Small Business Finance, Inc. (NY) 2 $5,350,000 $2,675,000 3 Exos Small Business Lending LLC (CO) 1 $5,000,000 $5,000,000 4 Wells Fargo Bank, National Association (SD) 2 $4,765,000 $2,382,500 5 Byline Bank (IL) 1 $4,462,500 $4,462,500…
Read MoreThe Huntington National Bank is West Virginia’s Top SBA 7(a) Lender for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 The Huntington National Bank (OH) 79 $13,363,000 $169,152 2 GBank (NV) 2 $6,100,000 $3,050,000 3 Live Oak Banking Company (NC) 3 $3,800,000 $1,266,667 4 Community Trust Bank, Inc. (KY) 6 $3,168,300 $528,050 5 WesBanco Bank, Inc. (WV) 1 $3,000,000 $3,000,000 6 Millennium Bank (IL) 1…
Read MoreNew Addition: Carolyn Skog Takes Charge As Senior Regional Account Manager In Stone Bank’s SBA Division
February 5, 2024 Delaney SextonContributing Editor Carolyn Skog Joins Stone Bank SBA Division as Senior Regional Account Manager Carolyn Skog has joined the SBA Division of Stone Bank as a Senior Regional Account Manager according to Vincent “Vinny” Muratore, President of the division. Skog has an undergraduate degree from Texas Tech and was formerly a…
Read MoreHarvest Grows Stronger: Meet The Dynamic New Additions to the Business Development Team – Alex Archer and Tony Ochoa
February 5, 2024 Delaney SextonContributing Editor Harvest Grows Stronger: Meet The Dynamic New Additions to the Business Development Team – Alex Archer and Tony Ochoa Alex Archer Joins as Harvest as SVP, Business Development Officer Alex Archer brings to Harvest over 15 years of proven success in the financial industry. His journey began in retail…
Read MoreColeman Report Live! February 5, 2024 — Main Street Monday @ 1pm EST
Join on MS Teams Watch on YouTube Host: Bob Coleman, Owner/Editor, Coleman ReportCo-Host: Lance Sexton, Contributor, Fountainhead CCGuest: John Reosti, Reporter, American Banker
Read MoreCatering Business Owner Indicted For Defrauding PPP, EIDL, & RRF – Fraud Friday
February 2, 2024 Delaney SextonContributing Editor Fraud Friday – Catering Business Owner Indicted For Defrauding PPP, EIDL, & RRF The U.S. Attorney’s Office charged the owner of a California catering company with one count of bank fraud, three counts of wire fraud, and two counts of money laundering. Dory Lindsay Ford is being indicted for…
Read MoreSBA House Small Business Committee Bill Would Establish Whistleblower Program
February 1, 2024 Delaney SextonContributing Editor “The SBA’s Office of Inspector General estimates that $200 billion dollars in fraud flowed through the pandemic lending programs,” says Chairman Roger Williams. “We must think of innovative ways to help get this money back for the American people, and as a business owner, I know that incentives matter. This legislation…
Read MoreColeman Report Live! February 2, 2024 — Fraud Friday @ 1pm EST
Join on MS Teams Watch on YouTube Host: Bob Coleman, Owner/Editor, Coleman ReportCo-Host: Lance Sexton, Contributor, Fountainhead CCGuests: Delaney Sexton, Editor, Coleman Report
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