Coleman Report

August 8, 2022 Delaney SextonContributing Editor Main Street Monday – PPP and COVID-19 EIDL Fraud can be Prosecuted Until 2031-2032 “In June of this year, the chief prosecutor told Congress that it was essential, essential, to extend the statute of limitations for American pandemic fraud to ten years to make sure fraudsters can’t run out…

August 5, 2022 Delaney SextonContributing Editor Fraud Friday – Bank Executive Vice President Pleads Guilty to Conspiracy to Defraud his Bank “Today’s plea sends a clear message that bank executives who commit fraud and deliberately deceive regulators will be brought to justice for their actions. I commend our agent and their federal law enforcement partners…

August 4, 2022 Delaney SextonContributing Editor BREAKING NEWS – SBA Raises Maximum Variable Interest Rate to Prime +3 for Loans over $350,000 Effective August 1, 2022 Variable Maximum Interest Rates for SBA 7(a) Loans $50,000 and Less –Prime + 6.5 $50,001 to $250,000 — Prime + 6.0 $250, 001 to $350,000 — Prime + 4.5…

August 4, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – Gary Siddens, Mihir Patel, Amer Khamis, and Craig Byers Gary Siddens Joins American Momentum Bank’s Expanding SBA Team as VP, BDO “Gary has a strong and tenured background in financial services and a well-established network in the market,” says Patrick Fenech, Senior Vice President,…

August 3, 2022 Delaney SextonContributing Editor C-Suite Wednesday – Yelp Says Growth in Consumer Spending is Slowing with Inflation “If the last few years have demonstrated anything it’s the resilience of local businesses, people and communities in the U.S. and across the world. When given the opportunity communities have come together to support and uplift…

A Coleman WebinarDate: Wednesday, August 3, 2022Time: 2:00 p.m. EasternDownload a Registration Form a 75-minute webinar that lets staff earn e-certification Almost two years in the making, SBA has adopted a rule that removes or revises various regulations governing the agency’s business loan programs that are obsolete, unnecessary, ineffective, or burdensome. In response to a…

August 2, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – New Maximum Fixed Rates for 7(a) Guaranteed Loans Effective on the first day of August, SBA published a notice for a regulatory rule that announces the maximum allowable fixed interest rates for 7(a) guaranteed loans. The final rule “removed or revised various regulations governing…

August 1, 2022 Delaney SextonContributing Editor Main Street Monday – Connecticut Launches a New Small Business Loan Fund “We’re thrilled to launch the Connecticut Small Business Boost Fund, a new collaboration with private sector partners and investors that will provide companies and nonprofits the working capital they need to grow and thrive,” Governor Lamont says.…

A Coleman WebinarDate: Wednesday, August 3, 2022Time: 2:00 p.m. EasternDownload a Registration Form a 75-minute webinar that lets staff earn e-certification Almost two years in the making, SBA has adopted a rule that removes or revises various regulations governing the agency’s business loan programs that are obsolete, unnecessary, ineffective, or burdensome. In response to a…

July 29, 2022 Delaney SextonContributing Editor Fraud Friday – Guilty in $25 Million IRS and PPP Fraud with 9 Professional Athletes From April 2020 through December 2021, Seir Havana along with his co-conspirators used the company Mana Tax to apply for PPP loans on behalf of small businesses, shell companies, and business entities controlled by…