Coleman Report

Main Street Monday — Loan Defaults and Delinquencies Hit Ten Year Highs Says Equifax By Bob ColemanPublisher Equifax is known for its consumer reporting, but it also excels in tracking small business loan default statistics. Equifax’s Small Business Lending Index (Loan Supply) has decreased by nearly 4% year-over-year, reflecting tighter lending conditions and subdued demand…

September 16, 2024 Delaney SextonContributing Editor SBA 7(a) Approvals by North Dakota Lenders For fiscal year 2024, these are the lending statistics by North Dakota lenders as of September 15, 2024:

September 13, 2024 Delaney SextonContributing Editor The Government is Accusing 4 People of Carrying Out a $178 Million PPP Fraud Scheme On Monday, an indictment charged four individuals with 23 counts of conspiracy to commit wire fraud, wire fraud, and conspiracy to commit money laundering. It is alleged that they sent at least 1,300 fraudulent…

September 12, 2024 Delaney SextonContributing Editor Grasshopper Welcomes Vince Magpayo as SMB/SBA Digital Loan Specialist “We are excited to have these new team members join Grasshopper, which further strengthens our dedication to innovation and the client experience,” says Chris Tremont, Grasshopper’s Chief Digital Officer. “Each brings unique and valuable expertise, and their leadership will be…

September 12, 2024 Delaney SextonContributing Editor SBA Will No Longer Support “Send This File” at the End of September As of September 15, 2024, SBA’s Office of Capital Access (OCA) will no longer use SendThisFile to securely receive loan documents. Going forward, Box.com should be used to securely transfer documents to the Commercial Loan Servicing…

September 12, 2024 Delaney SextonContributing Editor SBA 7(a) Approvals by North Carolina Lenders For fiscal year 2024, these are the lending statistics by North Carolina lenders as of September 11, 2024:

September 11, 2024 Delaney SextonContributing Editor Applications for New SBLC & Community Advantage SBLC Licenses are Open For SBLC licenses, SBA is accepting applications through October 15th. SBA will award up to three additional licenses during this round. The SBA will consider an applicant’s ability to fill market gaps in lending to underserved communities and…

September 11, 2024 Delaney SextonContributing Editor Nevada is Receiving $4 Million from the State Small Business Credit Initiative (SSBCI) “As Nevada’s economy continues to grow, it’s critical that we support our small businesses and entrepreneurs,” says U.S. Senator Jacky Rosen. “I’m glad to see millions of dollars are coming to our state to help small businesses flourish…

September 11, 2024 Delaney SextonContributing Editor SBA 7(a) Approvals by Montana Lenders For fiscal year 2024, these are the lending statistics by Montana lenders as of September 10, 2024:

September 10, 2024 Delaney SextonContributing Editor Credit Conditions are Stable While Small Business Optimism Fell “The mood on Main Street worsened in August, despite last month’s gains,” says NFIB Chief Economist Bill Dunkelberg about the August Small Business Economic Trends report. “Uncertainty among small business owners continues to rise as expectations for future business conditions worsen.”…