Coleman Report

November 16, 2020 Caity RoachContributing Editor Main Street Monday — 21% of Small Business Owners Anticipate Full Recovery in Less than a Year The inaugural release of American Express’s entrepreneurial spirit index, confirms the resiliency of small business owners during the pandemic. Here are some of the key findings from American Express’s survey of over 1,000…

November 13, 2020 By Caity WituckiContributing Editor Fraud Friday – Community Banker Sentenced to Two Years in Federal Prison A Maryland federal judge has sentenced the former CEO and president of Cecil Bank, Mary Beyer Halsey, to two years in federal prison for fraud related to the purchase of a foreclosed-upon home. In addition, Halsey…

November 12, 2020 Caity RoachContributing Editor Coleman Movers & Shakers— Brent Ciurlino, Jeffrey Peisach, and United Community Bank Brent Ciurlino Joins Blue Foundry Bank  “Brent is a seasoned veteran in the banking industry, and we’re thrilled to draw upon his expertise,” says Blue Foundry Bank CEO and President, James Nesci. “His ability to think strategically,…

November 10, 2020 Caity Roach Contributing Editor Hot Topic Tuesday — Lenders Concerned about the Definition of “Necessity” on New SBA PPP Forms On October 26, 2020, the SBA filed a Federal Register notice seeking approval from the U.S. Office of Management and Budget (OMB) for two new PPP borrower questionnaires intended to determine the…

November 9, 2020 Caity RoachContributing Editor Main Street Monday — Survey Finds Nearly Half of Small Businesses Do Not Plan to Reopen Physical Stores A recent survey conducted by website and marketing solutions provider, Bluehost, asked 500 business owners with fewer than 100 employees how they have adapted to ecommerce and adjusted their future business…

November 6, 2020Caity Roach Contributing EditorFraud Friday — Former Bank of America Manager Pleads Guilty to Embezzling $1.5 Million Former Bank of America client relationship manager, Waqas Ali, pleaded guilty last month to embezzling $1.5 million from one of his clients and using a portion of those funds to purchase a $63,293 Porsche SUV and…

November 3, 2020 Caity RoachContributing Editor Coleman Special Report — Four New SBA Forms Required November 3, 2020 On November 3, 2020, SBA Announced the immediate implementation of the updated SBA Form 1919 (Borrower Information Form), SBA Form 1920 (Lender’s Application for LoanGuaranty), SBA Form 1971 (Religious Eligibility Worksheet), and SBA Form 2237 (7(a) Loan Post…

New SBA Forms 1919, 1920, 1971, 2237 Compliance with SOP 50 10 6 Home Speakers Agenda Registration 75 minutes of Online Training for your staff A Coleman Webinar Date: Tuesday, November 10, 2020 Time: 2:00 p.m. Eastern Download a Registration Form On November 3, 2020, the SBA announced the update and release of SBA Form…

November 5, 2020 Caity RoachContributing Editor Coleman Movers & Shakers — Tony Boddie, Richard Duncan, and NADCO Tony Boddie hired at Merchants Bank of Indiana“We at Merchants are thrilled to have Tony joining our SBA Lending team,” says Jeff Scott, president of SBA Lending for Merchants Bank of Indiana. “Right now, with the challenges posed…

Nominations are now open for outstanding SBA lending professionals in the following categories: PPP lender of the Year (NEW!) Main Street Lender of the Year SBA 7(a) Lender of the Year SBA 504 Lender of the Year Rural SBA or USDA Lender of the Year Mission-Based SBA Lender of the Year SBA Secondary Market Person…