Coleman Report
Fraud Friday – TikTok Influencer Pleads Guilty After Being Caught with 79 Fraudulent Loan Applications
June 9, 2023 Delaney SextonContributing Editor Fraud Friday – TikTok Influencer Pleads Guilty After Being Caught with 79 Fraudulent Loan Applications A former social media influencer, Denish Sahadevan, entered a guilty plea for defrauding the SBA out of more than $1.2 million in PPP and EIDL loans. He is scheduled to be sentenced in September…
Read MoreColeman Report – California Commercial Real Estate Markets Struggling Amidst Migration
June 8, 2023 Delaney SextonContributing Editor Coleman Report – California Commercial Real Estate Markets Struggling Amidst Migration During the Navigating Uncharted Waters: CRE Lending in the Midst of Market Disruption webinar, the speakers were asked: It was mentioned LA and San Francisco were the two worst CRE markets in the country. Are there any markets…
Read MoreC-Suite Wednesday – Small Business Lending and Delinquencies Are Climbing
June 7, 2023 Delaney SextonContributing Editor C-Suite Wednesday – Small Business Lending and Delinquencies Are Climbing “In March, the Equifax Small Business Lending Index increased to its highest point in almost two years, defying the broader slowdown taking hold in the U.S. economy. Main Street has always found ways to adapt to ever-changing economic conditions,…
Read MoreSBA Hot Topic Tuesday – Banks are Better Prepared for the Rise in Defaults & Delinquencies
June 6, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Banks are Better Prepared for the Rise in Defaults & Delinquencies Yesterday on Coleman Report Live!, the panelists talked about the current state of banking and what trends bankers are forecasting for bank loan portfolios. Here is what they had to say about commercial…
Read MoreMain Street Monday – Join the CRE Lending in the Midst of Market Disruption Webinar Tomorrow
June 5, 2023 Delaney SextonContributing Editor Main Street Monday – Join the CRE Lending in the Midst of Market Disruption Webinar Tomorrow In the most chaotic months in banking since the Global Financial Crisis, the failures of SVB, Signature, and First Republic sent shockwaves through the financial markets. Regulators are turning their attention to CRE…
Read MoreNavigating Uncharted Waters: CRE Lending in the Midst of Market Disruption
In the most chaotic months in banking since the Global Financial Crisis, the failures of SVB, Signature, and First Republic sent shockwaves through the financial markets. Regulators are turning their attention to CRE loans, which are disproportionately being made by smaller and mid-size banks. The Financial Stability Report from the Federal Reserve opined that “the…
Read MoreFraud Friday – SBA Employee Jailed for $11 Million Fraud
June 2, 2023 Delaney SextonContributing Editor Fraud Friday – SBA Employee Jailed for $11 Million Fraud A former SBA employee, Lakeith Faulkner, admitted his guilt in an $11 million EIDL fraud scheme in December of 2022. Using his role at the SBA, he helped borrowers with the submission of fraudulent EIDL applications. In return, he…
Read MoreThis Just In — SBA Announces a New Loan Servicing SOP 5057 3
Some of the August 1, 2023 changes that are important to lenders in the new SOP 50 57 3 include: The requirement for lenders to include an assignment of the 7(a) Loan Documents to SBA in the Wrap-up Report they submit. The need for prior SBA approval to sell a 7(a) Loan Note for less…
Read MoreColeman Movers & Shakers – Kelley Cheney, Robert Porter, Riley Williams, and Anthony Ter-Gevondyan
June 1, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Kelley Cheney, Robert Porter, Riley Williams, and Anthony Ter-Gevondyan Plumas Bank Promotes Three Top-Producing Team Members in SBA Lending Group “Both Kelley and Bob have been valuable members of the Plumas Bank SBA team for fifteen years and we are thrilled to announce their…
Read MoreC–Suite Wednesday — Mistakes Learned to Avoid Repeating in PPP 3.0
May 31, 2023 Bob ColemanPublisher With some calling the underwriting changes in SBA’s 7(a) loan program in the new SOP, PPP 3.0, I thought it would be appropriate to recap the Inspector General’s findings. The March 2023 white paper reports on the performance of the 7(a) loan program during the pandemic and addresses potential risks…
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