Coleman Report Update

Clark Street Capital has launched the “Accelerated BAN,” a new loan sale process which allows lenders to sell loans in as little as two weeks. Designed for single assets or portfolios under $5MM, Accelerated BAN is the fastest process in the industry and designed for situations in which a lender is looking to move assets…

From the FLAGGL Board of Directors regarding its September annual conference in Orlando . . . . . What breakout session topics would you most like to see at September’s annual FLAGGL conference? Your opinion counts! Please take 2 minutes to complete this survey:  FLAGGL Conference 2024 – Breakout Topic Survey One winner will receive…

Wisconsin-based First Business Bank adds Teresa Rogers to its SBA lending staff. Teresa is active with SBA lending programs and serves as Secretary on the Region VIII Board of NAGGL. She holds a Bachelor of Science degree in Economics & Government/Politics from the University of Maryland.  A native of the Washington, DC, area, Teresa now…

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Barry Sloane, Chairman, President and Chief Executive Officer says, “We are pleased that S&P Global Ratings has upgraded their investment-grade ratings on two of the Company’s most seasoned securitizations outstanding. The loans in these securitizations were underwritten prior to COVID-19 and experienced the effects of the pandemic plus the interest rate shocks of 2022 and…

RANK Lender # Loans $ Amount Average Loan Size 1 Readycap Lending, LLC (NJ) 39 $63,510,900 $1,628,485 2 KeyBank National Association (OH) 161 $50,169,100 $311,609 3 Umpqua Bank (CA) 108 $43,899,400 $406,476 4 Celtic Bank Corporation (UT) 23 $39,309,800 $1,709,122 5 Live Oak Banking Company (NC) 24 $37,990,100 $1,582,921 6 Washington Trust Bank (WA) 60…

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RANK Lender # Loans $ Amount Average Loan Size 1 Community National Bank (VT) 21 $2,527,500 $120,357 2 Heritage Family FCU (VT) 20 $2,499,800 $124,990 3 TD Bank, National Association (DE) 17 $2,554,000 $150,235 4 New England FCU (VT) 17 $1,272,300 $74,841 5 Manufacturers and Traders Trust Company (NY) 8 $514,900 $64,363 6 Woodsville Guaranty…

The loan will help Cascade Kitchens transform an existing building into an innovative culinary hub. The revitalized space will include a food hall hosting various vendors, a commercial kitchen available for rent and a bar. “GCL is proud to support projects like Cascade Kitchens in South Lake Tahoe, California,” says Jeremy Gilpin, president of GCL.…

The Woodforest National Bank loan allows DreamSpring to provide microloans across 10 shared footprint states: Alabama, Florida, Georgia, Illinois, Louisiana, Mississippi, North Carolina, New York, South Carolina, and Texas. “Our collaboration with Woodforest widens the path for entrepreneurs to access much-needed capital and business resources,” says Anne Haines, President and CEO of DreamSpring. “With Woodforest…