Main Street Monday — Over 275 Illinois State Employees Committed PPP Loan Fraud
December 2, 2024 Bob ColemanFounder & Publisher Main Street Monday — Over 275 Illinois State Employees Committed PPP Loan Fraud The PPP loan fraud investigation by the state of Illinois continues to grow, with now more than 275 employees accused of fraud. Employees lied about being self-employed and provided false information about their income to…
Read MoreBlueacorn Founders Indicted for Facilitating PPP Fraud & Illegal Kickbacks – Fraud Friday
November 29, 2024 Delaney SextonContributing Editor Blueacorn Founders Indicted for Facilitating PPP Fraud & Illegal Kickbacks – Fraud Friday Two years after a scathing congressional report, the Department of Justice handed down charges to Blueacorn founders Nathan Reis and former ABC news anchor Stephanie Hockridge. They have pleaded not guilty to five counts of fraud…
Read MoreColeman Onsite SBA Loan Credit Policy Workshop
Construct Your Unique, Compliant SBA Loan Credit Policy Now!One-Day Event in March 2025 For SBA 7(a) and 504 Lenders and CDCs March 2025Location TBD Early Bird $1295 (paid by 1/29/24)Regular Registration $1395At the Door Registration (2/?/25) $1495 Join Coleman’s Award-Winning SBA National Training Team in February 2025! Are you ready to strengthen your SBA loan…
Read MoreNADCO Honors Mountain America as #1 SBA 7(a) Credit Union for FY 2024
November 26, 2024 Bob ColemanFounder & Publisher SBA Hot Topic Tuesday — NADCO Honors Mountain America as #1 SBA 7(a) Credit Union for FY 2024 “Supporting small businesses is a true honor for us as they play a crucial role in enriching our communities,” says Michael Griffiths, Senior Vice President of Business Lending at Mountain…
Read MoreMastering SBA Fee Collection Certified Online Training
Certified Online Training1 Hour of Content Split Into 5 ModulesLed by Lance Sexton Strike the balance between leaving money on the table but being fair to your borrower. What the SBA SOP Allows you to Collect; Documentation Loan Packaging and Closing Fees Tips In today’s competitive lending landscape, prudently maximizing your revenue streams is crucial.…
Read MoreMain Street Monday — Differences in Small Bank vs Large Bank Small Business Lending Data Collection
November 25, 2024 Bob ColemanFounder & Publisher Main Street Monday — Differences in Small Bank vs Large Bank Small Business Lending Data Collection From the FDIC October 2024 Small Business Lending Survey – See HERE While banks use various methods to assess small businesses, small and large banks are believed to have distinct advantages in…
Read MoreMan Indicted for Using His Deceased Business Partner’s Identity for Fraud Scheme – Fraud Friday
November 22, 2024 Delaney SextonContributing Editor Man Indicted for Using His Deceased Business Partner’s Identity for Fraud Scheme – Fraud Friday Stephen Gurba was charged with five counts of wire fraud, false statements, and aggravated identity theft after he submitted EIDL applications containing the information of his former business partner. He will have to forfeit…
Read MoreMovers & Shakers Thursday: Patrick Mizzell, Brian Oatsvalle
November 21, 2024 Bob ColemanFounder & Publisher Movers & Shakers Thursday: Patrick Mizzell, Brian Oatsvalle Patrick Mizzell Named President of United Community’s SBA Division ”Throughout his time here, Patrick has developed into an exceptional leader, and I am excited for him to embrace this new opportunity,” says Rich Bradshaw, president and chief banking officer for…
Read MoreSBA Issues PPP FAQs
November 20, 2024 Bob ColemanFounder & Publisher SBA Issues PPP FAQs The 8-page documentation is attached. A key point of emphasis is that lenders who still need to submit guarantee purchase requests are now under a 30-day deadline imposed by SBA to submit documentation when requested. The FAQs answer the following questions: 1. What is…
Read More90% of Small Banks Meet with Small Business Loan Applicants — Versus 40% for Large Banks
November 19, 2024 Bob ColemanFounder & Publisher 90% of Small Banks Meet with Small Business Loan Applicants — Versus 40% for Large Banks Among the largest banks the practice of decision makers meeting with applicants is fairly rare — less than 25% of the time. However, 95% of banks with less than $500 million in…
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