Coleman Report

April 17, 2020  By Caity WituckiContributing Editor, Fraud Friday Fraud Friday — Michigan Farmers Headed to Trial Over $68 Million Bank Fraud Charges Melissa and Michael Stamp, the former owners of Stamp Farms in southwestern Michigan, are now headed to trial for allegedly obtaining a $68 million operating loan under false pretenses and committing crop…

Implementation of 7(a) & 504 6-Month Debt Relief Payments Home Speakers Agenda Registration 75 minutes of Online Training for your staff A Coleman Webinar Date: Wednesday, April 29, 2020 Time: 2:00 p.m. Eastern Download a Registration Form SBA Debt Relief to 7(a), 504, and Microloan Borrowers for 6 months To obtain debt relief from the…

April 23, 2020  By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Ross Blanchard, Rowan Sbaiti, Gregg Mitchell, Tom Miller, and SBA Temporary Employees Ross Blanchard to Lead Equipment Appraisal Division at Reliant Business Valuation Ross Blanchard has joined Reliant Business Valuation’s appraisal division as a Senior Machinery and Equipment…

April 16, 2020 BREAKING NEWS — SBA: Paycheck Protection Program (PPP) Loans Will Reach Maximum $350 Billion Authorization “In Near Future” SBA will have no authority to accept PPP loans SBA will have no authority to accept PPP lender applications E-tran will shutdown Lenders will not able to adjust loan amounts within CAFS system SBA…

April 15, 2020 By: Caity WituckiContributing Editor, C-Suite Wednesday C-Suite Wednesday – Federal Banking Agencies Issue Interim Final Rule for PPP Facility Last Thursday, the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (collectively known as the “federal banking agencies”) issued an interim final rule that permits…

April 14, 2020 By: Caity WituckiContributing Editor, Hot Topic Tuesday Hot Topic Tuesday – Rubio Releases Update on PPP Improvements U.S. Senator Marco Rubio, Chairman of the Senate Committee on Small Business and Entrepreneurship, recently released an update on improvements being made to the Paycheck Protection Program (PPP).  “Recent reports indicate that the Paycheck Protection…

April 13, 2020 By: Caity WituckiContributing Editor, Main Street Monday Main Street Monday – Abrupt Turn in Small Business Optimism Ends 39-Month Historic Run Despite growing concerns surrounding the COVID-19 outbreak, small business optimism remained high throughout most of March. According to the National Federation of Independent Business (NFIB), small-business-optimism was just a few points…

April 10, 2020 By Caity WituckiContributing Editor, Fraud Friday  Fraud Friday – Former Outcome Health Executives Indicted for $1 Billion Fraud Scheme Outcome Health’s former executives, Rishi Shah, Shradha Agarwal, Brad Purdy and Ashik Desai are facing criminal charges for their alleged involvement in a $1 billion financial fraud scheme. Two Outcome Health employees have…

April 10, 2020 By: Caity WituckiContributing Editor Senate Blocks $250 Billion PPP Loan Expansion  On Thursday, the Senate blocked efforts to expand the $349 billion small business stimulus lending program by an additional $250 billion.Senate Majority Leader Mitch McConnell tried to approve the measure by a unanimous vote. However, Senator Ben Cardin, objected to the…

Submitting and Funding PPP (Paycheck Protection Program) Loans – Round 2 Funding Home Speakers Agenda Registration What it Means for SBA Lenders 75 minutes of Online Training for your staff A Coleman Webinar Date: Wednesday, April 22, 2020 Time: 2:00 p.m. Eastern Download a Registration Form Paycheck Protection Program Loans The initial $350 billion in…