Coleman Report

December 16, 2024 Delaney SextonContributing Editor Senator Ernst Introduced a Bill That Would Move 30% of SBA Employees Across the Country The “Returning SBA to Main Street Act” would relocate SBA employees assigned to SBA headquarters in Washington D.C. to other offices in regions around the United States. Senator Joni Ernst’s goal is to promote…

December 13, 2024 Delaney SextonContributing Editor Sober Home Owner Used EIDL On Wine, Caviar, a Wedding, and More – Fraud Friday The founder of several sober homes, Daniel Cleggett, has decided to plead guilty after being accused of four separate fraud schemes including EIDL fraud. At the center of his fraud schemes was A Vision…

December 12, 2024 Delaney SextonContributing Editor Stone Bank SBA Division Names Kathy Horelica Business Development Officer Stone Bank announced that Kathy Horelica has joined the bank’s SBA Division as a Vice President and Business Development Officer, according to Vinny Muratore, president of the division.  Horelica is a 25-year veteran of the financial services industry and…

December 12, 2024 Delaney SextonContributing Editor United Federal Credit Union Strengthens Small Business Loan Program with Highly Experienced SBA Lending Team “Bringing on this talented SBA lending team marks an exciting milestone for United Federal Credit Union,” says Renee Johnson, United’s Chief Commercial Officer. “Their expertise, professionalism, and dedication will not only boost our support…

December 11, 2024 Delaney SextonContributing Editor Small Business Optimism Boosted 11 Points in November According to NFIB For the first time in almost three years, small business optimism finally jumped above the NFIB 50-year average and reached 101.7 points. Not only that, nine out of ten measurements the NFIB uses to measure optimism also rose.…

December 10, 2024 Delaney SextonContributing Editor SBA Publishes Procedural Updates, Effective Immediately On Monday, SBA published a procedural notice with a variety of updates for the 7(a) and 504 programs. The changes primarily focus on the SOP 50 10 7.1, but there are changes to look out for that apply to the SOP 50 55.…

December 9, 2024 Bob ColemanFounder & Publisher Former Georgia US Senator Kelly Loeffler has been nominated by President-Elect Trump to be the new head of the Small Business Administration Kelly was chosen by Governor Brian Kemp in 2020 to fill the seat of Senator Johnny Isakson, a great Main Street advocate who retired for health…

December 6, 2024 Delaney SextonContributing Editor An Arkansas Man Will Spend 16 Years in Prison for $16 Million EIDL Fraud – Fraud Friday Yesterday, Tyler Keith Andrews was handed down a lengthy sentence for fraudulently applying for COVID-19 EIDLs and helping others apply for funding. District Judge Thomas O. Rice sentenced Andrews to a year…

December 5, 2024 Bob ColemanFounder & Publisher Movers & Shakers Thursday — Needham Bank Names Jonah Bowman VP, Small Business Production Manager “Jonah’s lending experience and skills in developing efficient processes will be a great help as we enhance our lending capabilities,” says Brian, Senior Vice President, Director of Middle Market. “His ability to streamline…

December 3, 2024 Bob ColemanFounder & Publisher Community Advantage Loans Increased to $500,000, Make Program Permanent Says White House From Friday’s Nov 29 press releases, “Today, the SBA is announcing an increase of the maximum loan amount backed by their Community Advantage Small Business Lending Companies (CA SBLCs) from $350,000 to $500,000 for active lenders…