Coleman Report

November 4, 2019 By Mary Miller Contributing Editor, Main Street Monday Main Street Monday – Small Businesses Turn to Online Lending Options Rebounding from the last recession resulted in a longer and more difficult recovery time for small businesses. What helped, according to online lenders, is their automated lending systems and platforms. Last quarter online…

November 1, 2019 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday– Bookkeeper Admits Stealing Over $300K From Physical Therapy Business On September 10, 2019, Heather Nicole Gray, the former bookkeeper for Sutherland Physical Therapy and Sutherland Yoga Studio, pleaded guilty to Bank Fraud. It is estimated that the fraud totaled $321,854. According to the…

October 31, 2019 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Andre R. Bailey, Cindy Santilena, and Kevin Gallagher Harvest Welcomes Andre R. Bailey as SVP for the Southwest Region Andre R. Bailey joins Harvest as the newest SVP and loan officer for the Southwest region. He has over…

October 30, 2019 By Caity Witucki Contributing Editor, SBA C-Suite Tips Wednesday SBA C-Suite Tips Wednesday — Protect Small Businesses From Predatory Lending According to the Sacramento Business Journal, recent data suggests that many of the same predatory financial tactics that plunged households into ruin during the 2008 recession are now being used in small-business…

October 29, 2019 By Caity Witucki Contributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — SBA’s OIG Recommends Improvements for Risk Management and Lender Oversight According to the FY 2019 SBA management report card, the SBA has taken significant action to address the OIG’s previous concerns regarding the oversight of lenders. However, an…

October 28, 2019 By Mary Miller Contributing Editor, Main Street Monday Main Street Monday – Supporting Immigrant Entrepreneurs Benefits Overall Small Business Economic Outlook According to Harvard Business Review, immigrants are two times more likely to become entrepreneurs than native-born U.S. citizens. However, recent SBA statistics indicate that immigrants currently account for only 28% of…

October 25, 2019 By Caity Witucki Contributing Editor, Fraud Daily Fraud Friday– Three Former Worley & Obetz Executives Indicted for Bank Fraud On October 8, 2019, three former executives of Worley & Obetz were indicted for their alleged involvement in a 15 year long fraud scheme. According to the charges, the former CEO of the…

October 24, 2019 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Keith Nigbur, Sheri Brewer, and John Nguyen Harvest Welcomes Keith Nigbur as Newest SVP for the Southwest Region Keith Nigbur has been in the banking and finance industry for 14 years. He has extensive experience in commercial lending,…

Preparing a Flawless SBAExpress Purchase Demand Kit: Don’t Make These Common 5 Mistakes that Delay Guaranty Payments Home Speakers Agenda Registration Date: Wednesday, November 6, 2019 Time: 2:00 p.m. Eastern Download a Registration Form SBA will fulfill its promise of prompt guaranty payments to SBAExpress lenders, but there is a catch. The SBAExpress Purchase Demand…

October 23, 2019 By Lance P. Martin Certified Specialist in Business Bankruptcy Law, Ward and Smith P.A. Contributing Editor, C-Suite Wednesday C-Suite Wednesday – How to Write an Effective SBA Litigation Plan When an SBA loan goes into default, the SBA requires a lender to commence litigation when the lender concludes that (1) defensive action…