Coleman Report

Preparing the SBA Loan Credit Memo — New SOP and COVID Underwriting Guidance Home Speakers Agenda Registration Ensure You Comply with the New SOP 5010 6 Effective October 1 — 75 minutes of Online Training for your staff Date: Wednesday, September 16, 2020 Time: 2:00 p.m. Eastern Download a Registration Form SBA’s new SOP 5010…

September 14, 2020 By: Caity RoachContributing Editor, Main Street Monday Main Street Monday – 88% of Small Businesses Have Exhausted Their PPP Funds According to a new survey conducted by Goldman Sachs, 88% of the small business owners say they have already exhausted their federal funding and 32% have now been forced to lay off…

September 11, 2020  By Caity RoachContributing Editor, Fraud Friday Fraud Friday – Financial Services Provider Defrauds Credit Union for $45 Per Month Former financial services provider, Rene Roy, will serve one day in federal prison and two years on probation for providing inaccurate and falsified documents to Belco Community Credit Union in order to get…

September 10, 2020  By Caity RoachContributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers —  Tony Vahsholtz, Angela M. Machado, and Melissa Butler  Vahsholtz to Head New SBA Department at Bank of Idaho “SBA lending has always been a passion of mine, and I’ve been doing it since 1998,” says Tony Vahsholtz, head of…

September 9, 2020 By Caity RoachContributing Editor, C-Suite Wednesday C-Suite Wednesday –  SBA Lenders Do Not Expect Congress to Pass a Coronavirus Stimulus Bill This Week Although the Senate returned from their summer recess on September 8th, SBA lenders are beginning to expect a stimulus package may not be approved until later this month. According…

September 8, 2020 By Caity Roach Contributing Editor, Hot Topic Tuesday Hot Topic Tuesday — SBA Hosts Webinar on PPP Forgiveness On September 3, 2020, SBA and U.S. Treasury staff hosted an “Ask the Regulators” session entitled Basics of PPP Loan Forgiveness and the SBA PPP Loan Forgiveness Platform. During the video presentation, Bill Briggs, Ginger…

September 4, 2020  By Caity Roach (née Witucki)Contributing Editor, Fraud Friday Fraud Friday—Bank Officer Commits Fraud to Fund TV Shopping Habit Former bank officer, Annette Marie Granic, has been found guilty of defrauding nearly $130,000 from her employer, Credit Union Australia, and using the majority of those funds to purchase products advertised on television shopping…

September 3, 2020  By Caity RoachContributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Joseph R. Flumian, Lana Fidelscaia, and Seacoast Commerce Bank Joseph R. Flumian joins First Bank of the Lake as Government Guaranteed Lending Healthcare BDO “Joe is a dynamic and knowledgeable lender with years’ of experience. He brings proven success…

September 2, 2020 By: Caity Roach Contributing Editor, C-Suite Wednesday C-Suite Wednesday — 55% of Lenders Report an Increase in Demand for 7(a) Loans According to the latest polls conducted during the Coleman Report Live daily show, over 55% of  SBA lenders say the demand for 7(a) loans is currently increasing and 31% say that the…

September 1, 2020 By: Caity (née Witucki)Contributing Editor, Hot Topic Tuesday Hot Topic Tuesday – SBA Releases SOP 50 10 6 The SBA has released the 6th version of its standard operating procedures (SOP 50 10 6) along with a summary of some of the significant procedural updates.  This update to the SOP provides additional…