Coleman Report

July 23, 2020 By Bob JudgeEditor, CPR Report CPR Report: Actual SBA 7(a) Prepays Decrease In June, total prepays, including paid excess principal (ACPR), came in at 5.13%, a 58% decrease from last month’s reading of 12.13%. After correcting for the excess principal being released from the MRF, pool prepays (CCPR) came in at 4.46%,…

New SBA COVID Guidelines in Underwriting the 7(a) and 504 Construction Loan Home Speakers Agenda Registration Learn SBA-compliance requirements for underwriting and documenting your borrowers’ SBA construction loans and protect your SBA guaranty. 75-minutes of Online Training for your staff A Coleman Webinar Date: Wednesday, August 5, 2020 Time: 2:00 p.m. Eastern Download a Registration…

July 23, 2020  By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Matthew A. Robinson, Pedro Bryant, Lee Elmslie, and Mike Taylor Matthew A. Robinson Joins First Bank of the Lake as  Senior Sales Specialist Matthew A. Robinson has joined First Bank of the Lake’s Clearwater, Florida Small Business Administration…

July 22, 2020 By Caity WituckiContributing Editor, C-Suite Wednesday C-Suite Wednesday – SBA Funds Over $518 Billion in PPP Loans On July 17, 2020, the House of Representatives Committee on Small Business held a hearing with Steven Mnuchin, the United States Secretary of the Treasury, and Jovita Carranza, Administrator of the Small Business Administration, to…

July 21, 2020 By Caity WituckiContributing Editor, Hot Topic Tuesday Hot Topic Tuesday — House Committee Discusses PPP Forgiveness On Friday, July 17, 2020, the House Committee on Small Business held a hearing entitled “Oversight of the Small Business Administration and Department of Treasury Pandemic Programs.” At the hearing, SBA Administrator, Jovita Carranza, and Treasury…

July 20, 2020 By: Caity WituckiContributing Editor, Main Street Monday Main Street Monday – Small Business Optimism Improves in Anticipation of Better Economic Outlook According to a recent study conducted by NFIB, small business owner optimism increased by 6.2 points in June to 100.6. Notably, the study found that owners anticipate improving sales as the…

July 17, 2020 By Caity WituckiContributing Editor, Fraud Friday Fraud Friday — Utah Trucking Company Owner Faces Multiple Fraud Charges The owner of Frisbu Trucking, Hubert Ivan Ugarte, is now facing multiple fraud charges for lying on a PPP loan application about his other pending federal criminal charges.  On October 24, 2019, a federal grand…

July 16, 2020  By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — First Internet Bank, Joseph I. Weiner, and Robert G. Russell Jr.  First Internet Bank Welcomes Four New SBA BDOs Last week, First Internet Bank announced that its SBA Lending team has added four new Senior Business Development Officers.…

July 15, 2020 By: Caity WituckiContributing Editor, C-Suite Wednesday C-Suite Wednesday – Coronavirus Impact Report on SBA Lending Activity and Operations According to the latest polls conducted during the Coleman Report Live daily show, most lenders feel that the SBA and Treasury have done a good (38%) or fair (32%) job at implementing PPP. However,…

July 14, 2020 By Caity WituckiContributing Editor, Hot Topic Tuesday Hot Topic Tuesday — What Happens when a PPP Recipient Goes Out of Business? Although over 172,786 jobs have been retained as a direct result of PPP, some small businesses have still had to close their doors permanently. According to Yelp’s most recent Economic Impact…