Coleman Report Update
Illinois SBA 7(a) Lender Rankings for FY 2023
1 Byline Bank (IL) 99 $138,557,000 $1,399,566 2 The Huntington National Bank (OH) 534 $96,116,500 $179,993 3 Millennium Bank (IL) 13 $37,987,700 $2,922,131 4 Live Oak Banking Company (NC) 29 $35,498,500 $1,224,086 5 Village Bank and Trust, National Association (IL) 43 $29,152,400 $677,963 6 Merchants Bank of Indiana (IN) 15 $28,380,200 $1,892,013 7 Newtek Small…
Read MoreICBA Says No to New SBLC Licenses
by Bob Coleman Publisher Don’t count the Independent Community Bankers Association as fans of the three new SBLC licenses. Says President and CEO Rebecca Rainey: “The SBA’s decision to extend new 7(a) Small Business Lending Company licenses risks undermining this vital program and the borrowers who rely on it. “Community bank participation in the 7(a)…
Read MoreNew Hampshire Senator Jeanne Shaheen Chairs Senate Small Business Committee
by Bob ColemanPublisher Senator Shaheen replaces Maryland Senator Ben Cardin who has moved on to head the Foreign Relations Committee. That vacancy occurred when Senator Bob Menedez stepped down following his indictment on a slew of corruption charges. “As a former small business owner, I know that small businesses play a critical role in driving…
Read MoreSBA 7(a) Secondary Market Sale Restrictions in the Event of a 11/18 Government Shutdown
The current Continuing Resolution (CR) extends government spending levels through Friday, November 17, 2023. In the event of a government shutdown due to a lapse in funding after 11:59 PM ET on the 17th, SBA 7(a) Secondary Market sale and pool formation processes will operate under the following parameters: Source: SBA
Read MoreHawaii SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 7 $7,160,000 $1,022,857 2 Central Pacific Bank (HI) 91 $7,070,000 $77,692 3 Newtek Small Business Finance, Inc. (NY) 8 $6,005,000 $750,625 4 Byline Bank (IL) 3 $4,281,000 $1,427,000 5 Commonwealth Business Bank (CA) 1 $3,731,000 $3,731,000 6 PCB Bank (CA)…
Read MoreIowa SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Lincoln Savings Bank (IA) 25 $9,044,100 $361,764 2 Newtek Small Business Finance, Inc. (NY) 8 $6,985,000 $873,125 3 Celtic Bank Corporation (UT) 4 $4,728,000 $1,182,000 4 First Interstate Bank (MT) 4 $4,025,200 $1,006,300 5 TD Bank, National Association (DE) 1 $4,000,000 $4,000,000 6 Live Oak…
Read MoreCFPB Issues New report on State CRA Laws
CFPB analyazes state CRA similar laws to “ensure financial institutions’ lending, services, and investment activities meet the credit needs of their communities.” The report examines the laws of seven states (Connecticut, Illinois, Massachusetts, New York, Rhode Island, Washington, West Virginia) and the District of Columbia, and found that many of those states adopted laws similar…
Read MoreArt of SBA Lending Podcast Interviews Bob Coleman
Ray Drew Interviews Bob Coleman November 2, 2023 on his Art of SBA Lending YouTube Channel.
Read MoreKraig Schwigen Joins American Lending Center To Guide Strategic Development
“Kraig is one of the giants in our industry, especially when it comes to serving EB-5 investors,” says John Shen, president and CEO of American Lending Center (ALC). “He has great experience in all components of the process, from the individual investor to the developers putting their money to work. We’re thrilled and blessed to…
Read MoreGeorgia SBA 7(a) Lender Rankings for FY 2023
1 Live Oak Banking Company (NC) 40 $60,862,000 $1,521,550 2 Metro City Bank (GA) 29 $57,421,000 $1,980,034 3 First IC Bank (GA) 20 $38,871,000 $1,943,550 4 CapStar Bank (TN) 24 $34,330,300 $1,430,429 5 Georgia’s Own Credit Union (GA) 40 $32,952,400 $823,810 6 Colony Bank (GA) 29 $30,042,300 $1,035,941 7 Signature Bank of Georgia (GA) 24…
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