Coleman Report

February 24, 2020 By Mary Miller Contributing Editor, Main Street Monday Main Street Monday – SBA and MBDA Celebrate Black History Month Since February is Black History Month, the Small Business Administration (SBA) and the Minority Business Development Agency (MBDA) have taken the opportunity to celebrate and recognize the contributions of African American small business…

February 20, 2020 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Trae Dorough, Mitch Belton, Rebecca Grant, and Will Tinsley Trae Dorough Named Executive Director of the National Rural Lenders’ Roundtable Trae Dorough, the Coleman Report’s 2018 SBA Rural Lender of the Year, was recently named executive director of…

February 19, 2020 By Caity Witucki Contributing Editor, C-Suite Wednesday CORRECTED: C-Suite Wednesday — SBA’s Annual Performance Report Outlines Lender Compliance Goals for 2020 Corrected Version (2/19/20) Substitutes “Agency” for “SBA Inspector General” To ensure accountability and track progress, the SBA has developed Agency Priority and Performance Goals that are assessed on a quarterly basis.…

February 18, 2020 By Caity Witucki Contributing Editor, Hot Topic Tuesday Hot Topic Tuesday — SBA Loan Delinquency Rates Continue to Steadily Decline On December 30, 2019, the SBA released its annual Financial Report for FY 2019. Among other things, the annual Financial Report provides insight into the SBA’s loan delinquency rates, which are a…

February 14, 2020 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday – Montana Broker Found Guilty in Multimillion-Dollar Fraud Scheme Last week, Sean Finn, a former Montana loan broker was found guilty in Nevada District Court for his involvement in a multi-million dollar fraud scheme. According to the evidence presented at trial, Finn conspired…

February 13, 2020 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Jerry Price, Bobby Goff, and Jim Morris Jerry J. Price, Jr. joins First Bank of the Lake Jerry J. Price, Jr. has joined First Bank of the Lake’s SBA lending team as Vice President, SBA Healthcare Business Development…

February 12, 2020 By Caity Witucki Contributing Editor, C-Suite Wednesday C-Suite Wednesday — SBA 7(a) Secondary Market Heat Map for FY 2019 The SBA has been tracking secondary market 7(a) initial sales over the past 5 years and following the secondary market’s patterns carefully. On January 8, 2020 at the Secondary Market Summit, the SBA…

February 11, 2020 By Caity Witucki Contributing Editor, Hot Topic Tuesday Hot Topic Tuesday — SBA 25% Budget to Decrease in 2021 Says Administration Yesterday, the White House released the Budget of the United States Government for Fiscal Year 2021. The budget requests $739 million in budget authority for 2021, a $243 million (25%) decrease…

Credit Elsewhere, Personal Resource Test, Affiliation, Loan Fees — A Coleman Webinar Home Speakers Agenda Registration 75-minutes of Online Training for your staff A Coleman Webinar Date: Wednesday, September 23, 2020 Time: 2:00 p.m. Eastern Download a Registration Form SBA released number of rules on credit elsewhere, personal resource test, and affiliation definitions and loan…

February 10, 2020 By: Caity Witucki Contributing Editor, Main Street Monday Main Street Monday – Small Business Owner Optimism Dips but Remails Strong According to the Wells Fargo/Gallup Small Business Index, small business owner optimism softened slightly in Q1 of FY 2020. However, Small business owners remain upbeat about their companies’ outlook and many report…