Coleman Report

February 26, 2021 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday — Former Bank President Sentenced to 8 Years for Embezzling $11 Million “Criminal conduct that affects the financial health of a small, local lender can send a negative ripple effect throughout the entire community,” says United States Attorney, Nicholas Ganjei. “The Eastern District…

February 25, 2021 Caity RoachEditor Coleman Movers & Shakers – Brian Comiskey, LRM Lender Consultants, Patriot Bank Brian Comiskey Named Chief Credit Officer at SomerCor “Brian has played a pivotal role in growing our loan origination and streamlining our operations,” says Manuel Flores, SomerCor President and CEO. “Brian’s deep knowledge of the SBA 504 program…

February 24, 2021 Caity Roach Editor C-Suite Wednesday – Participate in Coleman’s SBA Department Compensation Survey and Receive a Free Report! Your SBA lending team is invited to participating in Coleman’s 28th annual SBA department compensation survey. Survey results will be bundled and sold along with other essential data needed to support your compensation plan…

SBA Hot Topic Tuesday  – Upcoming Changes to the Paycheck Protection Program The Biden-Harris Administration and the SBA announced yesterday that they will be taking steps to further promote equitable relief for America’s mom-and-pop businesses by revising certain aspects of PPP. Here is what we currently know about the changes: The 14-day Exclusivity Period for…

February 22, 2021 Caity RoachEditor Flash Report  – Biden-Harris Administration and SBA Prioritize the Smallest of Small Businesses “The SBA is a frontline agency working to create an inclusive economy, focused on reaching women-owned, minority-owned, low- and moderate-income, rural, and other underserved communities in meaningful ways,” says SBA Senior Advisor Michael Roth. “While reported data…

February 22, 2021 Caity RoachEditor Main Street Monday – New York City Restaurants Report  57% Decrease in Employment “We’re nearly a year into the public health and economic crisis that has decimated New York City’s restaurants, bars, and nightlife venues,” says Andrew Rigie, executive director of the NYC Hospitality Alliance. “While the reopening of highly…

February 18, 2021 Caity RoachEditor Coleman Movers & Shakers – Renèe Bender, Margaret Griffin, and Jenni Shover Renèe Bender Joins NADCO as New Vice President of Government Relations Renée Bender joins NADCO from the SBA, where she served as a Senior Advisor in the Office of Rural Affairs and focused on access to capital and…

February 19, 2021 Caity RoachEditor Fraud Friday – Bookkeepers Embezzle Over $1 Million From Small Business Clients “People need to know who these people really are,” says George Lambos, the owner of a small business restaurant that was defrauded by Patricia Lindau and her husband, Kjell Lindau.  “It’s sickening,” Lambos says of the situation. He…

February 17, 2021 Caity RoachEditor C-Suite Wednesday – Establishing Loan Maturities for Section 1112 Debt Relief Payments Last Friday, the SBA issued a Procedural Notice which provides guidance on establishing maturities of new 7(a) loans eligible to receive debt relief payments under Section 1112 of the CARES Act.  For each new 7(a) loan approved beginning…