Coleman Report

January 25, 2021 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Form 1086 Update and Coleman’s 14th Annual Secondary Market Summit Form 1086 was recently updated by the SBA, and the revised Form 1086 should be used for loan sales by January 31, 2022. Page two of the Secondary Participation Guaranty Agreement now includes the…

January 24, 2022 Delaney SextonContributing Editor Main Street Monday – USDA Announces New $1.4 Billion Government Guaranteed Loan Program for Food Supply Chain Businesses Effective immediately, the U.S. Department of Agriculture is forming a Food Supply Chain Guaranteed Loan Program. The program is intended to expand access to financing for food systems infrastructure and create…

January 21, 2022 Delaney SextonContributing Editor Fraud Friday – Jailed Sonoma Valley Bank Execs’ Prison Sentence Voided The appellate panel of judges claim that the case relied too heavily on the bank officers being responsible for the bank’s collapse. At the time of Sonoma Valley Bank’s closure, the Great Recession was wreaking havoc on the…

January 20, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – Joseph Amato, First Home Bank Lending Team, and Jaron Larson Fountainhead Appoints New Senior Vice President, Joseph Amato “Joe’s strong work ethic and extensive knowledge base will be an invaluable asset to Fountainhead as we build on our past success as the largest nonbank…

January 19, 2022 Bob ColemanPublisher My headline is intriguing — the one I would assign to my reading of a just released think-tank report about the effectiveness of PPP. Now, contrast that with Monday’s Marketwatch take on the same report — Up to three-quarters of the $800 billion PPP flowed to business owners instead of…

January 14, 2021 Delaney SextonContributing Editor Fraud Friday – SBA Bank Loan Officer Pleads Guilty to Kickbacks! Brian Ferris received a $500 kickback for each loan he approved, and in total, he only accumulated $15,000 out of a $285,000 loan fraud scheme. The Massachusetts-based SBA bank lender repeatedly omitted from the Form 1919 that there…

January 13, 2021 Delaney SextonContributing Editor Coleman Movers & Shakers – Kyle DeCicco, David Keleher, and Peapack-Gladstone Bank SBA Team Sanibel Captiva Community Bank Promotes Kyle DeCicco to President “This key promotion gives SanCap Bank a highly energized leader who is committed to driving responsible growth through our second decade of business,” says Craig Albert,…

January 12, 2021 Delaney SextonContributing Editor C-Suite Wednesday – 504 Lending up 65% in Fiscal Year 2022 As of January 7, there are 9,632 7(a) loans that have been approved for more than $4.8 billion. SBA reports that around 70% of the 7(a) loan volume in fiscal year 2022 has been loans under $150,000. In…

January 11, 2022 Delaney SextonContributing Editor Hot Topic Tuesday – Form 159 Q&A Clarifications What is to stop 7(a) lending to unregulated non-bank lenders to erode into the same debacle as we saw with the 2008 mortgage lending crisis? Non-bank lenders are regulated and subjected to frequent reviews and audits from the SBA and other…