Coleman Report
Fraud Friday: Insider Loan Fraud Borrower Sentenced to Three Years in Prison
May 18, 2018 By Bob Coleman Editor, Fraud Friday Fraud Friday: Insider Loan Fraud Borrower Sentenced to Three Years in Prison “Michael Litz was sentenced to three years in federal prison and ordered to pay more than $5 million in restitution for criminally defrauding TARP recipient Excel Bank, a bank that later failed and taxpayers…
Read MoreCPR Report — Actual 7(a) Prepays Crest 15%
May 18, 2018 CPR Report — Actual 7(a) Prepays Crest 15% By Bob Judge Editor, CPR Report In April, total prepays, including paid excess principal (ACPR), came in at 15.47%, a 29% increase from last month’s reading of 11.96%. After correcting for the excess principal being released from the MRF, pool prepays (CCPR) came in…
Read MoreColeman Report Update! — Linda McMahon on Forest Lake Drapery, State of Small Business, SBA New Ad, Paypal Small Business Lending, SBA National Person of the Year
May 18, 2018 By Bob Coleman Editor, Coleman Report Update! Coleman Report Update! — Linda McMahon on Forest Lake Drapery, State of Small Business, SBA New Ad, Paypal Small Business Lending, SBA National Person of the Year Previous Coleman Report Updates!: May 9, 2018 — Coleman Report Update! — SBA Phoenix Award Winner , 3…
Read MoreColeman Movers & Shakers — Zach Renta, Coleman Receives Industry Awards
May 17, 2018 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — Zach Renta, Coleman Receives Industry Awards Zach Renta Promoted to Senior Vice President of Alliance Capital “We are extremely proud of the work and contribution Zach has made to the Birmingham Business Community in just a few short years”,…
Read MoreC-Suite Wednesday — PayPal is a Serious Small Business Lender
May 16, 2018 By Bob Coleman Editor, C-Suite Wednesday C-Suite Wednesday — PayPal is a Serious Small Business Lender Paypal, Amazon and Alibaba pose more of a threat to traditional lenders than the Fintech industry. As Fintech ebbs and flows, these high tech giants are starting to put up some serious small business lending numbers.…
Read MoreCORRECTED: SBA Hot Topic Tuesday — OIG Estimates $28 Million in Improper 7(a) Guaranty Purchases in FY17
May 15, 2018 CORRECTED: SBA Hot Topic Tuesday — OIG Estimates $28 Million in Improper 7(a) Guaranty Purchases in FY17 This corrected version corrects an embarrassing typo highlighted below. By Bob Coleman Editor, SBA Hot Topic Tuesday Last year SBA purchased $661 million in 7(a) guaranties from lenders. OIG estimates 4.3% of purchases were “improper”…
Read MoreMain Street Monday — Main Street Earnings at Historic Highs, 50% Don’t Need Credit
May 14, 2018 By Bob Coleman Editor, Main Street Monday Main Street Monday — Main Street Earnings at Historic Highs, 50% Don’t Need Credit From the April 2018 Small Business Economic Trend Report: CREDIT MARKETS Thirty-two percent reported all credit needs met (up 1 point), and 50 percent said they were not interested in a…
Read MoreFraud Friday — Four Wilmington Trust Bankers Convicted
May 11, 2018 Fraud Friday — Four Wilmington Trust Bankers Convicted By Bob Coleman Editor, Fraud Friday Officials at Wilmington Trust were convicted of fraud, conspiracy, and making false statements to federal regulators as a result of the bank’s practice of “waiving” matured loans from reporting requirements as current for interest, resulting in artificially low…
Read MoreColeman Movers & Shakers — Matthew Cloutier, Eddie Tuvin
May 10, 2018 Coleman Movers & Shakers — Matthew Cloutier, Eddie Tuvin By Bob Coleman Editor, Movers & Shakers Matthew Cloutier joins Countybank as VP, SBA Business Development Officer “We are proud to welcome Matthew to Countybank in a position of leadership,” says Paul Pickhardt, Senior Vice President, SBA Lending Manager at South Carolina-based Countybank.…
Read MoreC-Suite Wednesday — New SBA Logo and Decals Effective May 1
May 9, 2018 C-Suite Wednesday — New SBA Logo and Decals Effective May 1 By Bob Coleman Editor, C-Suite Wednesday 7(a) lenders using SBA logo window decals at their locations will need to replace them with new decals as of May 1st. This change is necessary due to the agency’s recently announced new logo. New…
Read More