Florida SBA 7(a) Lender Rankings for FY 2023
RANK Lender # SBA 7(a) Loans Approved $ SBA 7(a) Loans Amount Approved Average Loan Size 1 TD Bank, National Association (DE) 825 $112,752,900 $136,670 2 Newtek Small Business Finance, Inc. (NY) 180 $108,334,500 $601,858 3 Live Oak Banking Company (NC) 71 $104,346,000 $1,469,662 4 BayFirst National Bank (FL) 363 $101,958,300 $280,877 5 The Huntington…
Read MoreBobby Goff Joins Gulf Coast Small Business Lending as Senior Vice President
“Bobby is a fantastic addition to our Gulf Coast Small Business Lending team. Gulf Coast Small Business Lending has been, and remains, bullish about SBA lending. “We look forward to combining Bobby’s extensive SBA experience with our exceptional product delivery as we continue to partner with small businesses across the United States to meet their…
Read MoreFraud Friday – 40+ Broward Sheriff’s Office Employees in the Hot Seat, Accused of PPP Fraud
October 13, 2023 Delaney SextonContributing Editor Fraud Friday – 40+ Broward Sheriff’s Office Employees in the Hot Seat, Accused of PPP Fraud This week, the Broward Sheriff’s Office (BSO) in Florida is under the spotlight after at least 40 employees were indicted for committing PPP fraud. Many of the employees consist of BSO deputies, detention…
Read MorePPP Loan Criminal Gets 42 Months for $500K Fraud, Co-Defendant Guilty of Lying to SBA
“[Tamika Cross] submitted false documents certifying a number of employees and payroll for a business that had neither. She collected PPP loan proceeds based on lies and helped others do likewise,” says IRS Criminal Investigation (CI) Special Agent in Charge Thomas F. Murdock. “We are committed to investigating those who defrauded the government and robbed…
Read MoreNew SBA 504 Debt Refinance Rules as of November 13, 2023
Maximum Loan is $90,000 per Employee Highlights published in the October 12, 2023 Federal Register A loan that is subject to a guarantee by a Federal agency or department may be refinanced under the following conditions and requirements: An existing 504 loan may be refinanced if both the Third Party Loan and the 504 Loan…
Read MoreSailor Gets 18 Months in Jail for $1 Million PPP Loan Fraud
“Mark Haley exploited a worldwide epidemic to enrich himself through fraud,” says U.S. Attorney Darcie N. McElwee. “This was a prolonged and opportunistic scheme motivated by sheer greed that only ended when the program meant to help businesses survive the pandemic itself ended. The Department of Justice and my office will continue to pursue those,…
Read MoreThe Huntington National Bank is the Largest SBA 7(a) by # of Loans in FY 23
$1.3 Billion, 7,300 SBA loans, 6 years in a row “We’ve purposefully taken the opportunity to grow our SBA program within our footprint and nationwide,” says Maggie Ference, Huntington’s SBA Director. “We understand the tremendous impact small businesses have on communities and local economies, and we recognize the importance of our role in supporting these…
Read MoreSBA Cleans Up the Paperwork and Sunsets the Community Advantage Pilot Program – Grants SBLCs to All
SBA Cleans Up the Paperwork and Sunsets the Community Advantage Pilot Program – Grants SBLCs to All After 11 years. SBA closes out the “temporary” community advantage program and makes it permanent. As posted in the Federal Register. It started as a program to expand access to capital for underserved markets after the Great Recession on February 18, 2011.…
Read MoreFraud Friday – OIG Advises Against Ending Collections on EIDLs $100,000 or Less
October 6, 2023 Delaney SextonContributing Editor Fraud Friday – OIG Advises Against Ending Collections on EIDLs $100,000 or Less The Office of Inspector General issued a management advisory highlighting their concerns with the SBA ending active collections on COVID-19 Economic Injury Disaster Loans with an outstanding balance of $100,000 or less. Three major concerns include:…
Read MoreColeman Report – Fiscal Year 2023 Ends With $34 Billion Reaching Small Businesses
October 4, 2023 Delaney SextonContributing Editor Coleman Report – Fiscal Year 2023 Ends With $34 Billion Reaching Small Businesses During fiscal year 2023, more than 63,000 small business loans were approved through the SBA’s most significant programs. Nearly $34 billion was extended to America’s small businesses through the 7(a) loan program and the 504 loan…
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