SBA Releases Fiscal Year 2023 Agency Financial Report
The annual Agency Financial Report gives an overview of SBA’s financial and performance data. It is one of two required reports that federal agencies must publish each year. The report is filled with data and trends that the SBA is seeing. During FY23, SBA’s portfolio decreased year over year by 13.9%. The main cause for…
Read MoreClark Street Capital Launches Platform for Lenders to Sell Loans in Two Weeks
Clark Street Capital has launched the “Accelerated BAN,” a new loan sale process which allows lenders to sell loans in as little as two weeks. Designed for single assets or portfolios under $5MM, Accelerated BAN is the fastest process in the industry and designed for situations in which a lender is looking to move assets…
Read MoreFLAGGL Conference 2024 Breakout Topics
From the FLAGGL Board of Directors regarding its September annual conference in Orlando . . . . . What breakout session topics would you most like to see at September’s annual FLAGGL conference? Your opinion counts! Please take 2 minutes to complete this survey: FLAGGL Conference 2024 – Breakout Topic Survey One winner will receive…
Read MoreTeresa Rogers Joins First Business Bank as Vice President – SBA Lending
Wisconsin-based First Business Bank adds Teresa Rogers to its SBA lending staff. Teresa is active with SBA lending programs and serves as Secretary on the Region VIII Board of NAGGL. She holds a Bachelor of Science degree in Economics & Government/Politics from the University of Maryland. A native of the Washington, DC, area, Teresa now…
Read MoreHouse Small Business Committee Holds Hearing on Avenues to Capital Access
“For a business to get off the ground, small business owners must invest their time and financial resources. For most entrepreneurs, this means going to the bank to secure a loan. This capital provides them with the resources needed to compete in the marketplace and contribute to the American economy,” says Chairman Roger Williams. “Unfortunately,…
Read More“Abacus: Small Enough to Jail”
“Abacus: Small Enough to Jail” is a documentary about Abacus Federal Savings Bank, a small community bank in Chinatown, New York. It’s the only U.S. bank criminally charged in connection to the 2008 financial crisis. The film questions if the bank was unfairly targeted due to its small size and community ties and compares it…
Read MoreColeman Report Live! January 26, 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
Read MoreFirst Business Bank Promotes Mike Groth to Vice President, SBA Lending
Mike Groth joined First Business Bank in 2018 as an SBA Portfolio Manager and has more than 15 years of banking experience. Mike grew up in Wisconsin and earned a bachelor’s degree in Economics and an MBA from the University of Wisconsin-Milwaukee. Outside of banking, Mike serves as Scoutmaster for his community’s local Scout Troop…
Read MoreNewtek’s Loan Pools of Unguaranteed Portion of SBA 7(a) Loans Receive Investment Ratings Upgrades
Barry Sloane, Chairman, President and Chief Executive Officer says, “We are pleased that S&P Global Ratings has upgraded their investment-grade ratings on two of the Company’s most seasoned securitizations outstanding. The loans in these securitizations were underwritten prior to COVID-19 and experienced the effects of the pandemic plus the interest rate shocks of 2022 and…
Read MoreReadycap and KeyBank Top Washington SBA 7(a) FY23 Rankings
RANK Lender # Loans $ Amount Average Loan Size 1 Readycap Lending, LLC (NJ) 39 $63,510,900 $1,628,485 2 KeyBank National Association (OH) 161 $50,169,100 $311,609 3 Umpqua Bank (CA) 108 $43,899,400 $406,476 4 Celtic Bank Corporation (UT) 23 $39,309,800 $1,709,122 5 Live Oak Banking Company (NC) 24 $37,990,100 $1,582,921 6 Washington Trust Bank (WA) 60…
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