Coleman Report Update

Expanding the number of SBLC licenses to 17, SBA has chosen the three with mission-driven underserved market niches — Native American, Rural and Low-Income communities. (A Small Business Lending Company License allows a non-depository lender to fund SBA 7(a) loans nationwide.) McKinley Alaska Growth Capital, is an Alaska-based BIDCO and Native CDFI that has provided…

RANK Lender # Loans $ Amount Average Loan Size 1 Wilmington Savings Fund Society, FSB (DE) 14 $12,794,000 $913,857 2 Manufacturers and Traders Trust Company (NY) 49 $9,743,000 $198,837 3 Hanover Community Bank (NY) 1 $5,000,000 $5,000,000 4 Firstrust Savings Bank (PA) 2 $4,800,000 $2,400,000 5 Fulton Bank, National Association (PA) 4 $4,387,500 $1,096,875 6…

RANK Lender # Loans $ Amount Average Loan Size 1 Manufacturers and Traders Trust Company (NY) 32 $8,310,000 $259,688 2 Truist Bank (NC) 1 $4,646,200 $4,646,200 3 Newtek Small Business Finance, Inc. (NY) 4 $4,160,000 $1,040,000 4 First Financial Bank (AR) 1 $4,000,000 $4,000,000 5 Industrial Bank (DC) 3 $3,650,000 $1,216,667 6 Berkshire Bank (MA)…

Implementation of the CFPB Small Business Lending Rule has been stopped by a Texas Federal District Court. The CFPB wants lenders to collect data about small business loan applicants and borrowers similar to consumer mortgage loans — specifically race and geographic area. To ensure lenders are not engaging in discriminating lending practices. Reports National Law…

RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 58 $93,750,500 $1,616,388 2 The Huntington National Bank (OH) 227 $54,302,600 $239,219 3 Hanmi Bank (CA) 37 $33,107,000 $894,784 4 CrossFirst Bank (KS) 29 $33,006,500 $1,138,155 5 Midwest Regional Bank (MO) 15 $32,386,000 $2,159,067 6 Wells Fargo Bank, National Association…

With more than $177 million in loans for fiscal year 2023, South Carolina headquartered United Community is one of SBA’s largest lenders. “Small companies generate 1.5 million jobs a year and account for nearly 65% of new jobs in America,” says Rich Bradshaw, President and Chief Banking Officer for United. “Entrepreneurs are vital to our…

What is the Community Advantage Loan Program? Maximum Loan is $350,000 Guaranty — 85% for loans up to $150,000, 75% for loans greater than $150,000, and 90% for International Trade loans Who can be a CA lender? The following types of organizations are eligible to become CA lenders: Lender portfolio requirements Lenders in the CA…

Download a PDF Copy of the SOP 5010 7.1 here Summary of Changes SECTION A: CORE REQUIREMENTS FOR ALL 7(A) AND 504 LOANS The chapters listed below have received updated titles. Chapter 1: Primary Applicant Eligibility Requirements Validated by SBA’s Risk Mitigation Framework Chapter 2: Credit Not Available Elsewhere, Special Transaction Structures, & Other Primary…