Coleman Report

March 16, 2020 Main Street Monday — Ohio and Illinois Close all Restaurants By Bob Coleman Editor, Coleman Report And the hits keep on coming. In a major blow to Main Street, Ohio and Illinois have closed all restaurants and bars. “I’m aware that this will impact many, many good workers. I can’t tell you…

Best Practices for SBA Lending Department Managers of Remote Employees — A Coleman Webinar Home Speakers Agenda Registration 75-minutes of Online Training for your staff A Coleman Webinar DATE: Friday, March 27, 2020 Time: 2:00 p.m. Eastern Download a Registration Form So, the challenge for SBA department managers and the C-Suite is to track productivity of…

March 13, 2020 Trump Says SBA Stacked with Money to Help Small Businesses By Bob Coleman Editor, Coleman Report President Trump announced Friday the Small Business Administration is “stacked” with money to help small businesses during the Coronavirus outbreak. A national emergency has been declared, freeing up additional federal funding. President Trump announced earlier this…

March 13, 2020 By Caity Witucki Contributing Editor FY 2020 Updated Fee Schedule for SBA Oversight of 7(a) Lenders Thursday night, the SBA released a notice announcing the FY 2020 updated fee schedule for SBA oversight of 7(a) lenders. The following fees are in effect as of March 11, 2020: The annual fee for monitoring,…

March 13, 2020 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday – Art Seller Uses Fake Paintings as Collateral in $6 Million Fraud Scheme Philip Righter, A West Hollywood resident, pleaded guilty Tuesday to federal criminal charges surrounding the sale of bogus art which he claimed was created by artists such as Jean-Michel Basquiat,…

March 12, 2020  By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Pam Scott, Stephen Meade, and American Momentum Bank  Pam Scott Joins Harvest as BDO Last week, Pam Scott joined Harvest SBF as their newest BDO.  Scott has over 30 years of experience in SBA and commercial real estate…

March 11, 2020 By: Caity Witucki Contributing Editor, C-Suite Wednesday C-Suite Wednesday – The Impact of Blockchain Technology on Small Business Lending Institutions On March 4, 2020 the House Committee on Small Business held a hearing to explore how blockchain technology could be used to support small business growth and modernize SBA lending. “I know…

March 11, 2020 By: Caity Witucki Contributing Editor BREAKING NEWS – President Trump Instructs Congress to Increase SBA Funding in Response to Coronavirus Outbreak Wednesday night, President Donald Trump addressed the nation in response to the Coronavirus epidemic. In the address, President Trump announced that he was canceling all US travel from Europe for the…

March 10, 2020 By: Mary Miller & Caity Witucki Contributing Editors, Hot Topic Tuesday Hot Topic Tuesday – Legislation Passes for SBA COVID-19 Emergency Funding Last Friday the Coronavirus Preparedness and Response Supplemental Appropriations Act (H.R. 6074) was signed by the President and became law. The legislation provides $8.3 billion in new funding to support…