Coleman Report

June 7, 2021 Caity RoachEditor Main Street Monday — QuickBooks Data Reveals the Financial Impact of COVID-19 on Small Businesses “From bowling alleys to dentists, and from coast to coast, no small business was immune to the challenging circumstances that COVID-19 presented this year,” says Alex Chriss, Executive Vice President at Intuit QuickBooks. “Despite these…

June 4, 2021 Caity RoachEditor Fraud Friday — Law Firm Bookkeeper Pleads Guilty to Stealing $1.7M from Employer San Antonio private law firm, Shelton & Valadez, is the most recent victim of a popular bookkeeper fraud scheme that often results in a loss of millions of dollars and sometimes permanent closure of the business.  In…

June 3, 2021 Caity RoachEditor Coleman Movers & Shakers – Warren Baas, Matthew S. Huling, and Eduard Radzinsky Warren Baas Joins First Business Bank as VP of Small Business Lending “Warren is a great addition to our team,” says Marty Ferguson, Managing Director of SBA Lending at First Business Bank. “He’s very passionate about helping…

June 2, 2021 Caity RoachEditor C-Suite Wednesday – SBA 7(a) Lending Activity Continues to Outpace 2019 and 2020 Throughout 2020 and early 2021 traditional SBA 7(a) lending slumped as borrowers opted for Paycheck Protection Program (PPP) loans. However, according to the SBA’s most recent lending reports, 2021 7(a) lending activity by dollar amount has surpassed…

June 1, 2021 Caity RoachEditor SBA Hot Topic Tuesday — SBA OIG Receives Record-Setting Number of Hotline Complaints “Since March 2020, our focus has been on providing oversight of SBA’s pandemic response efforts to combat program fraud, ensuring these programs are being efficiently and effectively managed.” says SBA Inspector General, Hannibal ‘Mike’ Ware in his…

May 28, 2021 Caity RoachEditor Fraud Friday — Bank Executive Pleads Guilty to Scheme That Implicates Giants Baseball Team Owner Last week, Former Sterling Bank & Trust executive, YiHou “Fanny” Han, pleaded guilty to originating at least 1,288 fraudulent residential mortgage loans through the bank’s low-documentation Advantage Loan Program. The plea deal gives federal investigators…

May 27, 2021 Caity RoachEditor Coleman Movers & Shakers  –  Warren Baas, Michael Donato, and Lindsey Hagerty Warren Baas Joins First Business Bank as Vice President of SBA Lending “Warren is a great addition to our team,” says Marty Ferguson, Managing Director of SBA Lending at First Business Bank. “He’s very passionate about helping small-and…

May 26, 2021 Caity RoachEditor C-Suite Wednesday –  SBA Updates the 7(a) Lender Oversight Fee Schedule Last week, the SBA issued an updated fee schedule for FY 2021. Effective immediately until  September 30, 2021, the annual fee for lender oversight will be $127.96 (for SBA supervised lenders) and $133.14 (for federally regulated 7(a) lenders). The…

May 25, 2021 Caity RoachEditor SBA Hot Topic Tuesday – Small Business Job Openings Remain at Record High “Small business owners are seeing a growth in sales but are stunted by not having enough workers,” says NFIB Chief Economist, Bill Dunkelberg. “Finding qualified employees remains the biggest challenge for small businesses and is slowing economic…

May 24, 2021 Caity RoachEditor Main Street Monday – 60% of Small Business Owners Expect Their Revenue to Increase This Year Bank of America’s 2021 Small Business Owner Report released earlier this month indicates that U.S. small business owners have started to recover from an unprecedented year of challenges brought on by the coronavirus pandemic.…