Coleman Report
Former President of SouthernTrust Bank Pleads Guilty to Falsifying Records – Fraud Friday
June 28, 2024 Delaney SextonContributing Editor Former President of SouthernTrust Bank Pleads Guilty to Falsifying Records – Fraud Friday “The lack of professional responsibility demonstrated by Steven Cook diminishes the faith consumers place in the banking process,” says FBI Springfield Field Office Acting Special Agent in Charge Shannon Fontenot. “Financial fraud is a serious crime…
Read MoreUnderwriting the SBA 7(a) and 504 Franchise Loan — Webinar 7/31
A Best Practice SBA Lending Guide Post-Franchise DirectoryWebinar Registration Includes Coleman’s “SBA Franchise Eligibility Cheat Sheet” —a go-to reference tool for evaluating borrower franchise agreements and the FDD. A Coleman WebinarDate: Wednesday, July 31, 2024Time: 2:00 p.m. EasternIncludes e-certification & recording Last year’s SBA rule change eliminated the need for lenders to consider control issues…
Read MoreLenders May Use the Newly Updated SBA Form 1919
June 27, 2024 Delaney SextonContributing Editor Lenders May Use the Newly Updated SBA Form 1919 SBA received approval for the edits made to SBA Form 1919 to reflect the Criminal Justice Rule. Question #4 on page 2 of the form was updated: “The new question #4 uses the phrase ‘serving a sentence of imprisonment imposed…
Read MoreSBA 7(a) Lending Stats by Industry
June 27, 2024 Delaney SextonContributing Editor SBA 7(a) Lending Stats by Industry For fiscal year 2024, these are the lending statistics by industry as of June 25, 2024:
Read MoreFirst Bank of the Lake Promotes Carolyn Calafiore to EVP and President of SBA Lending
June 27, 2024 Delaney SextonContributing Editor First Bank of the Lake Promotes Carolyn Calafiore to EVP and President of SBA Lending “Carolyn has been a superstar on the team since she started at the bank. Her dedication and expertise have driven our success, and we are confident she will continue to excel in her new…
Read MoreRepresentative Williams & Senator Ernst are “Pleased” but “Remain Concerned” After Funding Circle’s Announcement
June 26, 2024 Delaney SextonContributing Editor Representative Williams & Senator Ernst are “Pleased” but “Remain Concerned” After Funding Circle’s Announcement Representative Roger Williams and Senator Joni Ernst released a joint statement since the announcement that Funding Circle is voluntarily returning its SBLC license: “As we have been saying from the moment it was announced, Funding…
Read MoreUnited Community Welcomes Jeannie Yoder as SBA Regional Executive
June 26, 2024 Delaney SextonContributing Editor United Community Welcomes Jeannie Yoder as SBA Regional Executive “Throughout Jeannie’s career, she has consistently demonstrated an exceptional aptitude for SBA lending,” says Beth Hallock, president of SBA lending at United. “With a remarkable track record, generating north of $600 million in SBA loan production, she brings invaluable expertise…
Read MoreiBusiness Funding Acquires Funding Circle for $41.8 Million, Will Return SBLC License
June 25, 2024 Delaney SextonContributing Editor iBusiness Funding Acquires Funding Circle for $41.8 Million, Will Return SBLC License Founder and CEO of iBusiness Funding LLC Justin Levy expresses his enthusiasm, saying, “We are thrilled to welcome the exceptional FC USA team to the iBusiness family. FC USA’s mission to be the largest SBA lender for loans under $500,000 aligns with our goal…
Read MoreSBA 7(a) Lending Stats by Business Type
June 25, 2024 Delaney SextonContributing Editor SBA 7(a) Lending Stats by Business Type For fiscal year 2024, these are the lending statistics by business type as of June 24, 2024:
Read MoreArkansas Capital Corporation Names Andrew Harris VP, Business Development Officer
June 25, 2024 Delaney SextonContributing Editor Arkansas Capital Corporation Names Andrew Harris VP, Business Development Officer “As a private, non-profit lending corporation, we are dedicated to empowering entrepreneurs nationwide to meet the individual capital needs of businesses with a commitment to revitalizing communities across the nation,” says Craig Calafati, ACC Executive Vice President and Director…
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