Coleman Report Update
House Small Biz Committee Questions SBA’s Office of Entrepreneurial Development Spending
Says Chairman Rogers Williams of Texas in yesterday’s hearing. Owning your own small business is one of the most rewarding careers in America. You get to put your time and effort into something that you are passionate about and fulfills a need in the marketplace. We all know that to be a successful small business…
Read MoreKentucky SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 8 $16,700,200 $2,087,525 2 Stock Yards Bank & Trust Company (KY) 42 $16,628,800 $395,924 3 Republic Bank & Trust Company (KY) 32 $13,744,200 $429,506 4 The Huntington National Bank (OH) 63 $13,066,300 $207,402 5 Community Trust Bank, Inc. (KY) 45…
Read MoreSenate Small Business Chair wants $14 Million for SBA’s OIG for COVID-19 Loan Portfolio Oversight
In one of her first actions as Chair of the U.S. Senate Committee on Small Business and Entrepreneurship Jeanne Shaheen wants SBA’s Inspector General to continue and expand its work of identifying and collecting fraudulent PPP and EIDL loans. Shaheen writes, “Unfortunately, many unscrupulous actors viewed our collective commitment to help deserving small businesses as…
Read MoreKansas SBA 7(a) Lender Ranking for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 12 $21,245,000 $1,770,417 2 Emprise Bank (KS) 27 $11,744,800 $434,993 3 First Bank of the Lake (MO) 5 $7,929,600 $1,585,920 4 Equity Bank (KS) 16 $7,889,200 $493,075 5 LendingClub Bank, National Association (IL) 5 $7,830,000 $1,566,000 6 Fidelity Bank, National…
Read MoreIndiana State 7(a) Lenders Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 The Huntington National Bank (OH) 315 $58,025,500 $184,208 2 Live Oak Banking Company (NC) 26 $31,031,000 $1,193,500 3 Old National Bank (IN) 31 $27,342,300 $882,010 4 Centier Bank (IN) 58 $25,197,100 $434,433 5 Merchants Bank of Indiana (IN) 29 $22,570,400 $778,290 6 First Internet Bank…
Read MoreVets Own 2 Million Small Businesses, Employ 5.5 Million
SBA says veterans own 1,955,191 businesses and employ 5,450,860 Americans. Source: SBA Office of Advocacy, November 2023
Read MoreColeman Report Live! Moves to Teams Monday, November 13
Beginning Monday, November 13, you will have two options to view Coleman Report Live! Monday and Friday at 1 pm Eastern at no charge. Additional YouTube videos will be posted every Tuesday, Wednesday and Thursday at 1 pm. We will be able to earn advertising revenue off the YouTube channel once we hit 1,000 subscribers.…
Read MoreMinnesota SBA 7(a) Lender Rankings for 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Frandsen Bank & Trust (MN) 53 $32,125,500 $606,142 2 First Bank & Trust (SD) 24 $32,102,800 $1,337,617 3 BankVista (MN) 97 $30,856,400 $318,107 4 The Huntington National Bank (OH) 144 $28,125,000 $195,313 5 Bremer Bank, National Association (MN) 29 $26,731,600 $921,779 6 U.S. Bank, National…
Read MoreMinnesota’s New $10 Million Small Business Loan Fund Seeks Non-Profit Lending Partners
by Bob ColemanPublisher The Minnesota Expanding Opportunity Fund is Administered by the Department of Employment and Economic Development or DEED DEED’s $10 million Expanding Opportunity Fund will “support entrepreneurs who have struggled to access capital through traditional bank loans. The fund is designed to support historically under-funded small businesses operated by women, people of color,…
Read MoreTMC Financing Promotes Gregg Mitchell, Adds LaKisha Gant
by Bob ColemanPublisher The nation’s largest SBA 504 lender announces key enhancements to its back room. Gregg Mitchell, Executive Vice President of Loan Operations Since joining TMC Financing in April 2020, Gregg has played a pivotal role in driving the company’s exceptional growth, resulting in a doubling of its loan volume. Under Gregg’s leadership, TMC’s…
Read More