Coleman Report

Coleman’s PPP Forgiveness Lender’s GuideOne Time Annual Fee: $489 Download an Order Form This 95 page guide reflects all Congressional, U.S. Treasury, and SBA guidelines on PPP loan forgiveness. It Includes infographics on the PPP forgiveness process, a timeline of PPP forgiveness related events, an overview of the three different PPP forgiveness applications, summaries of…

December 3, 2020 Caity RoachEditor Coleman Movers & Shakers —  DeeDee McIntyre, James Stolt, and Dan Timm Heritage Southeast Bank Hires DeeDee McIntyre as Senior SBA and USDA Lender “DeeDee has a deep knowledge of SBA loans and standard operating procedures as well as a thorough banking and lending background,” says Leonard Moreland, CEO of…

December 2, 2020 Caity Roach Editor C-Suite Wednesday — SBA OIG Highlights Opportunities to Improve Section 1112 Debt Relief Payment Controls On December 1, 2020, the SBA OIG released a report on the CARES Act Section 1112 debt relief payments provided to 7(a) borrowers. The review found that SBA effectively ensured more than 224,000 borrowers…

December 1, 2020 Caity Roach Contributing Editor Hot Topic Tuesday — Half of Small Business Say They Need Additional Funding in the Next 12 Months The Paycheck Protection program (PPP) provided over $525 billion to 5 million small businesses across the United States. However, since the program ended nearly four months ago, the need for…

November 30, 2020 Caity RoachContributing Editor Main Street Monday — 27% of Small Business Owners Expect Better Business Conditions in the Next Six Months According to NFIB’s Small Business Economic Trends quarterly report, small business optimism in October remained unchanged from September, a historically high reading. Small businesses also indicated a historically high level of…

November 25, 2020 Caity Roach Editor C-Suite Wednesday — SBA PPP Loan Forgiveness Decisions Reach $38 Billion According to the PPP webpage, the SBA has approved 5.2 million PPP loans worth over $525 billion. However, data released November 22, 2020, suggests that the SBA has only made forgiveness decisions on 7% of the total number…

November 24, 2020 Caity Roach Editor Hot Topic Tuesday — Small Businesses Shift Focus to State Economic Relief As congressional negotiations surrounding another round of PPP remain stalled, some states have begun introducing their own small business loan programs to ensure local businesses have access to the funding they need to recover and keep local…

November 23, 2020 Caity RoachEditor Main Street Monday — Survey Finds Micro Businesses have been Disproportionately Affected by COVID-19 Businesses owned and operated by a single person, often called “micro-businesses” or “solo-preneurs,” are more likely to close compared to other small businesses that have at least one or more employees, says Facebook’s most recent State…

November 20, 2020 By Caity WituckiEditor, Fraud Friday Fraud Friday – Bank Executive Sentenced to Five Years in Prison for  Role in Construction Fraud Scheme Troy Gregory, a former senior lending officer and executive at University National Bank, has been found guilty of making false statements to twenty-six Kansas banks in order to convince them…