Coleman Report

March 20, 2023 Delaney SextonContributing Editor Main Street Monday – 7(a) Lending Surpasses $10.5 Billion in FY23 In fiscal year 2023, 7(a) lending is the highest it has been since 2018. As of the last day of February, almost $10.4 billion was approved, an increase of more than $2 billion compared to last year. Over…

March 17, 2023 Delaney SextonContributing Editor Fraud Friday – TD Bank Executive Sentenced to 10 Years After Orchestrating a PPP Fraud Scheme Daniel Hernandez, the former Regional Manager of TD Bank who previously overlooked 80 employees and over 20 bank branches, was sentenced after trying to obtain $25 million in PPP loans and EIDLs. The…

March 16, 2023 By Joseph ColemanPresident, Coleman Report CORONADO, CA — SBA Deputy Associate Administrator John Miller announced 7(a) approved dollars in FY2023 ($10.4 B) are back to the levels last seen in FY2018 ($10.5 B) at the America West Small Business Lending Conference in Coronado, CA. 504 lending in FY2023 ($2.6 B) has leveled…

March 16, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Susan Battle, Randall Bowers, Matthew Stewart Sr., and Michael Oppel Hyperion Bank Names Susan Battle as SVP & Director of SBA Lending “Susan has a reputation for working closely with entrepreneurs and other borrowers, no matter their SBA knowledge level or stage of the…

March 15, 2023 Delaney SextonContributing Editor C-Suite Wednesday – Default Rates are Predicted to Rise to 3.6% in 2023 PayNet is forecasting that the loan default rate in 2023 will be 3.6%, an increase of 1.6% from the actual default rates in 2022. Further, they are predicting that this rising trend will continue in 2024…

March 14, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – New Lending is Up 11% From December According to PayNet small business insights, new loan volume was up at the start of 2023, but default rates and delinquency rates were also higher at the beginning of the year. Here are the facts from index…

March 13, 2023 Delaney SextonContributing Editor Main Street Monday – $58 Billion Budget for SBA Programs in Fiscal Year 2024 “Small businesses are the giants of our economy, and the source of our most innovative and important technological, cultural and social advancements,” says Administrator Isabella Casillas Guzman. “Yet, while many entrepreneurs are already rebounding from…

March 10, 2023 Delaney SextonContributing Editor Fraud Friday – Social Media Influencer Pleads Guilty to $1.5 Million COVID Fraud Scheme Danielle Miller flaunted trips in a private jet, a luxury hotel room, driving a Rolls-Royce, a Louis Vuitton bag, and a luxury apartment she rented in Florida to her 34,000 followers. Now she is flaunting…

March 9, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Reece Sanford, Piper Douglas, Cesar Jimenez, Jeff Smith, and Michael Hardtke River City Bank Launches New SBA Division Led by Reece Sanford and Piper Douglas Jamie Tallent, President and CEO of River City Bank shares, “Reece and Piper are highly skilled financial leaders with…

March 8, 2023 Delaney SextonColeman Editor C-Suite Wednesday – Coleman Small Business Lending Index We invite you to take our first Coleman Small Business Lending Index survey! Responses collected from the surveys are anonymous. The data will be used in future reports to inform the SBA industry of small business lender sentiment and trends within…