Coleman Report

SBA Lending and the $2 Trillion Stimulus Package — What it Means for SBA Lenders Home Speakers Agenda Registration SBA Lending and the $2 Trillion Stimulus Package — What it Means for SBA Lenders 75 minutes of Online Training for your staff A Coleman Webinar Date: Wednesday, April 1, 2020 Time: 2:00 p.m. Eastern Download…

March 25, 2020 By: Caity WituckiContributing Editor, C-Suite Wednesday C-Suite Wednesday – Senate is Close to Passing $2 Trillion Coronavirus Aid Package Treasury Secretary, Steven Mnuchin, and Senate Minority Leader, Chuck Schumer, say they are “very close” to an agreement on the nearly $2 trillion coronavirus economic rescue package, raising the possibility of a Senate…

March 24, 2020 By Caity WituckiContributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Guidance on Deferments for 504 Loans for Businesses Adversely Affected by COVID-19 SBA issued Information Notice 5000-20008 on March 20, 2020, to strongly encourages its lending partners to offer deferment relief to borrowers that have been adversely affected by…

March 23, 2020 By: Caity WituckiContributing Editor, Main Street Monday Main Street Monday – Chinese Small Businesses Slowly Recover from COVID-19  Small businesses are slowly reopening in China as the deadly outbreak of the novel coronavirus declines. Recent estimates from Wu Haishan, the Vice President of WeBank in China, suggests that Chinese businesses outside of…

March 20, 2020 By Caity WituckiContributing Editor, Fraud Friday  Fraud Friday – Disagreement During Bank Fraud Scheme Results in Murder   Atlanta resident, Brejon Nabors, will spend the rest of his life behind bars after being convicted for murdering his partner in a bank fraud scheme. According to the Fulton County District Attorney’s office, Brejon Nabors…

March 19, 2020 By: Caity WituckiContributing Editor BREAKING NEWS: Senate Proposes Keeping Workers Paid and Employed Act — $300 Billion in 7(a) Loans, Increases 7(a) Limits to $10 Million, $1 Million Express Thursday afternoon, the Senate introduced another emergency stimulus package to aid small businesses impacted by the ongoing coronavirus outbreak. The proposed stimulus package,…

March 19, 2020Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Frank Gallagher, NEDCO, and Windsor Advantage Frank Gallagher Joins First Bank of the Lake’s SBA Lending Team as BDO Frank Gallagher recently joined First Bank of the Lake’s SBA Lending team as Senior Vice President, Business Development Officer; Franchise Sales Manager. In Gallagher’s…

March 18, 2020 By: Caity WituckiContributing Editor BREAKING NEWS – Proposed Small Business Emergency Stimulus Package Exceeds $300 Billion White House officials have announced plans to devote increased funding towards helping small businesses. This recovery effort is included in the $1 trillion stimulus package Treasury Secretary Steven Mnuchin announced in response to the coronavirus outbreak.…

March 18, 2020 Affiliation Based on Economic Dependence Clarification – SBA Information Notice 5000-20007 By Bob Coleman Editor, Coleman Report SBA Information Notice 5000-20007 Effective March 17, 2020 On February 10, 2020, SBA published an interim final rule on Express Loan Programs and Affiliation Standards. (85 FR 7622) The interim final rule becomes effective on…

March 18, 2020 By: Caity Witucki Contributing Editor MultiFunding Business Loan Advisors Launch Coronavirus Support MultiFunding Business Loan Advisors recently launched a CoronaVirus Support thread for SBA lenders and borrowers to get the latest information about SBA disaster loans. The thread includes options for community members to ask questions, share information or write a short…