SBA Breaking Barriers with New Rule Easing Restrictions on Criminal History
January 31, 2024 Delaney SextonContributing Editor SBA Administrator Isabel Guzman announced a new SBA rule change that would improve entrepreneurship opportunities for formerly incarcerated individuals who served their sentence, including those on parole and probation. Administrator Guzman was joined by Vice President Kamala Harris and Congressional Black Caucus Chairman Steven Horsford when making this announcement.…
Read MoreTake Coleman’s 2024 Compensation Survey for Valuable Compensation Data
Click on your department below to complete Colemans 2024 SBA department compensation survey. The survey will close on February 15, 2024. The report will be released by March 30, 2024. SBA Loan Department Manager Survey SBA Loan Sales Manager Survey SBA Business Development Officer Survey SBA 7(a) Loan Underwriter Survey SBA 7(a) Loan Packager Survey SBA 7(a) Loan Closer Survey SBA 7(a) Loan…
Read MoreSmall Business New Hires Increased More than 10% Between 2019 and 2021
SBA’s Office of Advocacy focused on the influx of hiring that businesses saw between 2019 and 2021 in their recent research, but they also acknowledged the labor shortages small and large businesses alike faced during this period. From the third quarter of 2019 to the third quarter of 2021, businesses across the country saw an…
Read More80% of Small Business Borrowers Point to Interest Rates as Their Top Problem when Accessing Credit
“Small business owners have been navigating higher interest rates since the Federal Reserve started hiking in March 2022, but have been increasingly affected by higher rates over the last six months. NFIB again asked about business owners’ financing activities and their experience in accessing credit. The health of the financial system is essential to small…
Read MoreColeman Report Live! January 29, 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 CCGuests: Delaney Sexton, Editor, Coleman Report
Read MoreWhistleblower Case Ends In Dismissal Of 2 PPP Loans – Fraud Friday
January 26, 2024 Delaney SextonContributing Editor Fraud Friday – Whistleblower False Claims Act Lawsuit Dismissed for Two PPP Loans Former employees at ManPow, LLC, accused the real estate company of obtaining PPP loans and loan forgiveness through false statements and certifications. They claimed the company falsely reported payroll expenses and the number of employees in…
Read MoreThe Top 30 SBA 7(a) Loan Exceptions Found in 2023 — Webinar Wednesday, June 12 @ 2PM EST
Mistakes Lenders Need to Avoid that Jeopardize the SBA 7(a) Loan Guaranty Attend the Live Webinar EventWednesday, June 12, 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…
Read MoreOld National Bank and US Bank are the Top Wisconsin SBA 7(a) Lenders for FY23
RANK Lender # Loans $ Amount Average Loan Size 1 Old National Bank (IN) 31 $31,966,300 $1,031,171 2 Byline Bank (IL) 24 $28,088,000 $1,170,333 3 Nicolet National Bank (WI) 28 $19,090,600 $681,807 4 Citizens Community Federal National Association (WI) 27 $18,945,000 $701,667 5 Hiawatha National Bank (WI) 45 $18,849,400 $418,876 6 Live Oak Banking Company…
Read MoreAmerican Momentum Bank Expands Western US Footprint with Vic Calonder Appointment as Senior Vice President
“Vic has more than 20 years of banking experience along with a background in restaurant ownership and entrepreneurship,” says Patrick Fenech, senior vice president and managing director of SBA lending for American Momentum Bank. “His experience resonates with small business owners and brings added value to clients navigating the SBA loan process. We’re thrilled to…
Read MoreAmerican Momentum Bank Enters Denver Market with Key SBA Lending Hire
Vic Calonder joins the bank as senior vice president, SBA business development officer III, as SBA Lending Division continues national expansion DENVER, CO (Jan. 23, 2024)— American Momentum Bank has entered the Denver market with its latest hire. Experienced SBA lending professional Vic Calonder joins the bank as senior vice president, SBA business development officer…
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