Coleman Report

February 14, 2020 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday – Montana Broker Found Guilty in Multimillion-Dollar Fraud Scheme Last week, Sean Finn, a former Montana loan broker was found guilty in Nevada District Court for his involvement in a multi-million dollar fraud scheme. According to the evidence presented at trial, Finn conspired…

February 13, 2020 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Jerry Price, Bobby Goff, and Jim Morris Jerry J. Price, Jr. joins First Bank of the Lake Jerry J. Price, Jr. has joined First Bank of the Lake’s SBA lending team as Vice President, SBA Healthcare Business Development…

February 12, 2020 By Caity Witucki Contributing Editor, C-Suite Wednesday C-Suite Wednesday — SBA 7(a) Secondary Market Heat Map for FY 2019 The SBA has been tracking secondary market 7(a) initial sales over the past 5 years and following the secondary market’s patterns carefully. On January 8, 2020 at the Secondary Market Summit, the SBA…

February 11, 2020 By Caity Witucki Contributing Editor, Hot Topic Tuesday Hot Topic Tuesday — SBA 25% Budget to Decrease in 2021 Says Administration Yesterday, the White House released the Budget of the United States Government for Fiscal Year 2021. The budget requests $739 million in budget authority for 2021, a $243 million (25%) decrease…

Credit Elsewhere, Personal Resource Test, Affiliation, Loan Fees — A Coleman Webinar Home Speakers Agenda Registration 75-minutes of Online Training for your staff A Coleman Webinar Date: Wednesday, September 23, 2020 Time: 2:00 p.m. Eastern Download a Registration Form SBA released number of rules on credit elsewhere, personal resource test, and affiliation definitions and loan…

February 10, 2020 By: Caity Witucki Contributing Editor, Main Street Monday Main Street Monday – Small Business Owner Optimism Dips but Remails Strong According to the Wells Fargo/Gallup Small Business Index, small business owner optimism softened slightly in Q1 of FY 2020. However, Small business owners remain upbeat about their companies’ outlook and many report…

February 7, 2020 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday – Business Owner Pleads Guilty to $ 26 Million Dollar Fraud Scheme On January 30, 2020, Russell Grundy, a former Aurora, Missouri, business owner pleaded guilty in federal court to a series of multi-million dollar fraud schemes. The allegations brought against Grundy include…

February 6, 2020 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Marcq Sung, Mark Donovan, and Bruce R. Marks Marcq Sung Joins Community Reinvestment Fund Community Reinvestment Fund (CRF) has hired Marcq Sung to be its director of program strategy and development. Sung brings nearly 15 years of experience…

February 5, 2020 By Caity Witucki Contributing Editor, C-Suite Tips Wednesday C-Suite Tips – Lending Institutions are Taking Advantage of the New USMCA On January 29th, President Donald Trump signed the United States-Mexico-Canada Agreement (USMCA) and lending institutions are already seeing the benefits. Although Canadian Prime Minister, Justin Trudeau has yet to sign the agreement,…

2020 Collateral Requirements for SBA 7(a) Loans Under $350,000 and Over $350,000 Home Speakers Agenda Registration Learn SBA collateral requirements for underwriting and documenting your borrowers’ SBA loans and protect your SBA guaranty. 75-minutes of Online Training for your staff A Coleman Webinar Date: Thursday, March 19, 2020 Time: 2:00 p.m. Eastern Download a Registration…