Coleman Report
Fraud Friday — Do PPP Fraudsters Go to Jail?
May 14, 2021 By Bob ColemanEditor, Fraud Friday Fraud Friday — Do PPP Fraudsters Go to Jail? Yes. And a lot of it. David Hines gets more than six years in federal prison for fraudulently obtaining $3.9 million in PPP loans. Mr. Hines submitted multiple PPP applications to a PPP-participating lender, claiming to have had…
Read MoreC-Suite Wednesday: FDIC Risk Review of Main Street Lending
By Bob ColemanEditor, C-Suite Wednesday Main Street Recovery Unclear, PPP Loans Lower Delinquencies, Bank Income up ⅓, Credit Boxes Shrink Says Fed While the outlook for small business lending in 2021 is unclear — the recovery for Main Street remains uneven, but is on par with previous recessions, says the FDIC in its just released…
Read MoreSBA Hot Topic Tuesday — CPR Report: Actual SBA 7(a) Prepays Remain Low
SBA Hot Topic Tuesday — CPR Report: Actual SBA 7(a) Prepays Remain Low By Bob JudgeEditor, CPR Report In March, total prepays, including paid excess principal (ACPR), came in at 7.13%, a 27% decrease from last month’s reading of 9.80%. After correcting for the excess principal being released from the MRF, pool prepays (CCPR) came…
Read MoreMain Street Monday – California Small Business Owners Remain Optimistic
May 10, 2021 Caity RoachEditor Main Street Monday – California Small Business Owners Remain Optimistic “California small business owners were hit especially hard and adapted to complex restrictions for longer periods of time than those in other states,” says Todd Hollander, Head of Small Business Banking at Union Bank. “But despite the challenges, many small…
Read MoreFraud Friday – New York Banker Uses Paid Off Loans to Conceal Fraud
May 7, 2021 Caity RoachEditor Fraud Friday – New York Banker Uses Paid Off Loans to Conceal Fraud “Gangadai Azim betrayed her position as a trusted bank employee to defraud the bank and misappropriate client funds for more than a dozen years,” says U.S. Attorney Audrey Strauss. “She allegedly stole more than $1.7 million and…
Read MoreUnforgiven 2.0! Servicing Responsibilities for PPP Loans
Unforgiven 2.0! Now what Happens to that PPP Loan? Includes the new Guidance SBA Procedural Notice 5000-812316 (Released July 15, 2021) Wednesday, August 11, 2021 Time: 2:00pm ETA 75-minute Coleman Webinar with staff e-certification Download a Registration Form This Coleman webinar answers a very opaque question — what to do with unforgiven PPP loans? Lenders,…
Read MoreColeman Movers & Shakers – David Menoian, Brian King, and First Internet Bank
May 6, 2021 Caity RoachEditor Coleman Movers & Shakers – David Menoian, Brian King, and First Internet Bank David Menoian Promoted to Government Guaranteed Lending Business Unit President “I look forward to seeing the group’s growth under David’s helm,” says Crestmark Division President, Christopher Soupal. “He has exhibited solid leadership and a strong aptitude for business…
Read MoreC-Suite Wednesday – SBA 7(a) Lending Activity Surpasses Pre-Pandemic Level
May 5, 2021 Caity RoachEditor C-Suite Wednesday – SBA 7(a) Lending Activity Surpasses Pre-Pandemic Level 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 report, 2021 7(a) lending activity by dollar amount recently surpassed pre-pandemic levels and…
Read MoreThe Paycheck Protection Program General Fund Has Been Exhausted
May 5, 2021 Caity RoachEditor The Paycheck Protection Program General Fund Has Been Exhausted Yesterday, the Small Business Administration informed trade associations that Paycheck Protection Program funding has been exhausted and that the application portal has stopped accepting new applications for loans from most lenders. $6 billion in funding remains available for previously submitted loan…
Read MoreSBA Hot Topic Tuesday — Small Business Lending Activity Improves to Pandemic Era High
May 4, 2021 Caity RoachEditor SBA Hot Topic Tuesday — Small Business Lending Activity Improves to Pandemic Era High According to PayNet’s most recent issue of Strategic Insights, Small business lending activity has reached a pandemic era high and is now 2% higher than the last pre-pandemic reading. Additionally, delinquencies have fallen to their lowest…
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