by Bob Coleman Publisher Don’t count the Independent Community Bankers Association as fans of the three new SBLC licenses. Says President and CEO Rebecca Rainey: “The SBA’s decision to extend new 7(a) Small Business Lending Company licenses risks undermining this vital program and the borrowers who rely on it. “Community bank participation in the 7(a)…

by Bob ColemanPublisher Senator Shaheen replaces Maryland Senator Ben Cardin who has moved on to head the Foreign Relations Committee. That vacancy occurred when Senator Bob Menedez stepped down following his indictment on a slew of corruption charges. “As a former small business owner, I know that small businesses play a critical role in driving…

The current Continuing Resolution (CR) extends government spending levels through Friday, November 17, 2023. In the event of a government shutdown due to a lapse in funding after 11:59 PM ET on the 17th, SBA 7(a) Secondary Market sale and pool formation processes will operate under the following parameters: Source: SBA

RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 7 $7,160,000 $1,022,857 2 Central Pacific Bank (HI) 91 $7,070,000 $77,692 3 Newtek Small Business Finance, Inc. (NY) 8 $6,005,000 $750,625 4 Byline Bank (IL) 3 $4,281,000 $1,427,000 5 Commonwealth Business Bank (CA) 1 $3,731,000 $3,731,000 6 PCB Bank (CA)…

RANK Lender # Loans $ Amount Average Loan Size 1 Lincoln Savings Bank (IA) 25 $9,044,100 $361,764 2 Newtek Small Business Finance, Inc. (NY) 8 $6,985,000 $873,125 3 Celtic Bank Corporation (UT) 4 $4,728,000 $1,182,000 4 First Interstate Bank (MT) 4 $4,025,200 $1,006,300 5 TD Bank, National Association (DE) 1 $4,000,000 $4,000,000 6 Live Oak…

CFPB analyazes state CRA similar laws to “ensure financial institutions’ lending, services, and investment activities meet the credit needs of their communities.” The report examines the laws of seven states (Connecticut, Illinois, Massachusetts, New York, Rhode Island, Washington, West Virginia) and the District of Columbia, and found that many of those states adopted laws similar…

Ray Drew Interviews Bob Coleman November 2, 2023 on his Art of SBA Lending YouTube Channel.

“Kraig is one of the giants in our industry, especially when it comes to serving EB-5 investors,” says John Shen, president and CEO of American Lending Center (ALC). “He has great experience in all components of the process, from the individual investor to the developers putting their money to work. We’re thrilled and blessed to…