Coleman Report

January 4, 2021 Caity RoachEditor Main Street Monday — Top Small Business Trends for 2021 For small businesses, 2020 was one of the most challenging years in history. However, changing socioeconomic conditions brought about by the coronavirus pandemic paved the way for numerous opportunities for business growth in 2021. Here are a few business trends…

December 31, 2020 Caity RoachEditor Coleman Movers & Shakers — Michael Barrera, Ryan Fox, and Fong Nguyen Michael Barrera Named SBA District Director for Northern Florida “Economic prosperity for entrepreneurs is critical for our local communities and our nation’s economy,” says Michael Barrera. “I look forward to working with all of our resource partners in…

December 20, 2020 Caity RoachEditor C-Suite Wednesday — OIG Issues Recommendations For the Next Round of PPP Last weekend, the President signed the $900 billion coronavirus economic aid bill which passed in both the House of Representatives (359-53) and the Senate (92-6) on December 21, 2020. The legislation, the Consolidated Appropriations Act of 2021, includes…

December 29, 2020 Caity RoachEditor Hot Topic Tuesday — Dates You Need to Know for PPP 3.0 In addition to allowing particularly impacted businesses to obtain a second draw PPP loan, The Consolidated Appropriations Act of 2021, makes several changes to PPP, EIDL, 7(a), and 504 deadlines.  Here are the dates you should know before…

December 28, 2020 Caity RoachEditor Main Street Monday — Key Provisions in the New Economic Recovery Act Sunday night the President signed the $900 billion coronavirus economic aid bill which passed in both the House of Representatives (359-53) and the Senate (92-6) on December 21, 2020. The legislation, the Consolidated Appropriations Act, 2021, includes over…

PPP Loan Forgiveness and Calculating the 1st and 2nd Draws Final Guidance Analysis of Final Rules Issued by SBA 13 CFR Parts 113, 120 and 121 (82 pages Released January 7, 2021) 13 CFR Parts 120 and 121 (42 pages Released January 7, 2021) SBA Forms Released January 11, 2021 Home Speakers Agenda Registration What you…

December 23, 2020 Caity Roach Editor C-Suite Wednesday— Small Business Lending Activity on a Bumpy Road to Recovery While small business lending activity rose moderately in October (1.7% M/M), preliminary November data collected by PayNet suggests a bumpy road ahead for Main Street as COVID-19 cases rise once again. Although overall unemployment claims continue to…

December 22, 2020 By Bob Coleman Editor Top Ten Things We Know as of Today. SBA 7(a) Guaranty to be raised to 90% PPP Forgiveness will be a one-page certification by borrower for loans less than $150,000 EIDL advances of $10,000 will NOT be recouped in PPP forgiveness No tax implications to PPP borrowers on…

December 22, 2020 Caity Roach Editor Hot Topic Tuesday – SBA Update from 504 Lenders Connect Conference  Last week, at the 504 Lenders Connect Quarterly Conference, a panel of SBA staff members provided an update on recent agency notices and upcoming procedural changes. Here is a summary of the key topics discussed at the conference:…

December 21, 2020 Caity RoachEditor Main Street Monday — Americans Are Starting New Businesses at Record Pace 2020 saw a large spike in new business applications. New figures from a study by LendingTree indicate that in the first 13 weeks of the year, an average of nearly 74,000 businesses applied for employer identification numbers (EINs)…