Coleman Report
Coleman Report Live! Today Friday 12/8 @ 1:00 EST
Youtube Live Streaming Link Microsoft Teams Link Host: Bob Coleman Co-Host: Lance Sexton
Read MoreSBA Loosens Policy of Matching Borrower’s Loan Term with Lease Term
By Bob ColemanColeman Report SBA has changed its policy that the lender MUST obtain a lease to match the loan term. The new wording does not require this length of a lease. Lenders no longer need to obtain this documentation. The exception is unless the loan proceeds are “substantially” used for leasehold improvements and equipment…
Read MoreFraud Friday – A California Homeowners Association Agrees to PPP False Claims Act Settlement
December 8, 2023 Delaney SextonContributing Editor Fraud Friday – A California Homeowners Association Agrees to PPP False Claims Act Settlement A nonprofit homeowners group has recently agreed to pay almost $500,000 in fees and penalties for applying for a PPP loan despite being ineligible. The Rancho Sante Fe Association applied for $1.5 million even though…
Read MoreSBA Published New Procedural Notice on December 6
The SBA has issued a new notice, Procedural Notice 5000-852522, effective from December 6, 2023. This notice introduces changes related to:1. Lease terms2. Equity requirements for for Standard 7(a) loans that finance complete partner buyouts and partial changes of ownership3. 7(a) loans that finance same institution debt4. Loan maturity for for 7(a) loans that finance…
Read MoreNew Hampshire SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 TD Bank, National Association (DE) 109 $10,680,600 $97,987 2 Enterprise Bank and Trust Company (MA) 16 $10,016,100 $626,006 3 Readycap Lending, LLC (NJ) 5 $7,463,300 $1,492,660 4 The Fidelity Bank (NC) 1 $4,450,000 $4,450,000 5 Bangor Savings Bank (ME) 18 $4,262,400 $236,800 6 Primary Bank…
Read MoreFederal Court Upholds California Small Business Disclosure Loan Law
Monday December 4th, Judge R. Gary Klausner granted California’s Department of Financial Protection and Innovation’s Motion for Summary Judgment in a lawsuit challenging the DPFI’s small business financing disclosure regulations. SB 1235 (Glazer) requires lenders to disclose key metrics to small businesses to including the amount of funding provided, APR , finance charge, and payment…
Read MoreCountybank’s Paul Pickhardt Retires
“We are incredibly grateful for how Paul has built and grown our SBA lending department since joining Countybank in May 2017,” says R. Thornwell Dunlap III, President and CEO of Countybank. Ken Harper, Countybank’s Chief Banking Officer, adds, “We appreciate all the ways Paul made our organization better. His enthusiasm and work ethic have been…
Read MoreNorth Carolina CDFI M&F Bank Earns PLP License
“We are thrilled to expand our product offerings for small businesses and entrepreneurs,” says Travis C. Rouse, Chief of Sales and Lending for M&F Bank. “Serving as an SBA preferred lender allows us to quickly execute loans for worthy businesses while still providing the same top-notch service our customers have come to expect. This designation…
Read MoreNebraska SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 First State Bank Nebraska (NE) 33 $15,048,800 $456,024 2 Union Bank and Trust Company (NE) 36 $12,986,700 $360,742 3 Wells Fargo Bank, National Association (SD) 10 $6,133,300 $613,330 4 BMO Bank National Association (WI) 4 $4,423,900 $1,105,975 5 First Internet Bank of Indiana (IN) 3…
Read MoreLink for Coleman Report Live! Monday 12/4 @ 1 pm Eastern
Youtube Live Streaming Link Microsoft Teams Link Host: Bob Coleman Co-Host: Lance Sexton Guests: John Reosti, American Banker Brett Caines, Lumos Data
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