Coleman Report

December 8, 2020 Caity Roach Editor Hot Topic Tuesday — SBA OIG Says Managing Stimulus is the Greatest Challenge Facing SBA “This semiannual period has been like no other in the history of SBA,” says SBA Inspector General, Hannibal ‘Mike’ Ware in the Fall 2020 Semiannual Report to Congress. “The focus of our work has…

December 7, 2020 Caity RoachContributing Editor Coleman’s 2020 SBA Lender Professional Awards — Dorothy M. Thomas Named Main Street Lender of the Year Congratulations to Dorothy M. Thomas, Coleman’s 2020 SBA Main Street Lender of the Year. “Dorothy has had a positive impact in her profession,” says Frank Gallegos, Executive Director at Cen Cal Business…

December 7, 2020 Caity RoachEditor Main Street Monday — Small Business Revenue is 31% Lower Than It Was at the Beginning of the Year Last Thursday, the National Association of Professional Employer Organizations (NAPEO) released its quarterly Small Business Snapshot, which shows that daily revenue among small businesses is 31% lower than it was when…

December 4, 2020 Caity RoachEditor Fraud Friday — Crown Bank CEO Sentenced to a Year in Prison for Defrauding Investors The former CEO of Minneapolis-based Crown Bank, Peter Dahl, has been sentenced to a year and a day in federal prison for using bank customer accounts to cover his own personal debts and abusing his…

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…