Coleman Report

January 31, 2020 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday – Former Chief Lending Office Admits to Making False Statements to the SBA James Bortolotti, a former chief lending officer at First Choice Bank in New Jersy, has admitted to improperly securing a $3.75 million federal guarantee on a loan by making false…

January 30, 2020 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Tucker Herring, NEDCO, and Coleman 2019 SBA Lender Professional Award Winners Tucker Herring Joins Ready Capital Tucker Herring recently joined Ready Capital, a national SBA PLP lender, who is ranked #16 in the country with over $250 million…

Congratulations on being named a Coleman SBA Professional Lender of the Year for 2020! You and a plus-one are cordially invited to attend a free lunch in your honor to receive your award on Wednesday, April 15th at one of the many fine restaurants at the Palazzo Tower in Las Vegas. The event will begin…

Coleman 2020 Death Valley Jeep Trip When: Tuesday, April 14, 2020 Time: 7:00am – 7:00pm Pacific Limited to Ten Vehicles Cost: Free Vehicle Rental: Approx. $250 Bob and Joseph Coleman will be hosting a 4 wheel drive tour of Death Valley on Tuesday, April 14th. There is no charge for the outing, but you will…

January 29, 2020 By Bob Coleman Editor, Coleman Report Participate in Coleman’s 2020 SBA Department Compensation Survey and Receive a Free Report! Coleman’s 2020 SBA Department Compensation Survey Coleman’s annual SBA industry compensation report will include all SBA lending professional job descriptions: SBA Loan Department Manager SBA Loan Sales Manager SBA Business Development Officer SBA…

January 29, 2020 By Caity Witucki Contributing Editor, C-Suite Wednesday C-Suite Wednesday – Corporate Governance Rule Changes that Affect CDCs During the SBA Office of Financial Assistance Connect Call on Tuesday, January 14th, OFA team member, Rosemarie Drake, introduced the Corporate Governance Rule changes that went into effect on January 3, 2020. This rule streamlines…

Coleman’s 2020 SBA Lending Awards Congratulations again to the Coleman 2020 SBA Lending Award Winners! Coleman 2020 Main Street Lenders of the Year John Kropf Growth Capital Corporation Tareasa Harrell Signature Bank of Georgia Coleman 2020 Woman Lender of the Year Merri Adams CDC Small Business Finance SBA 504 Lender of the Year Tim Souther…

January 28, 2020 By Caity Witucki Contributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday – SBA’s OIG Identifies Material Deficiencies in 21 Defaulted Loans (Part 2) The SBA’s Office of Credit Risk Management (OCRM) is responsible for the oversight of SBA’s lending partners and their loan portfolios. However, a recent audit report revealed…

January 27, 2020 By Mary Miller Contributing Editor, Main Street Monday Main Street Monday – Mentoring Services Help Small Businesses Succeed January is National Mentoring Month. The expertise of a mentor is invaluable for a successful launch. According to recent statistics, 87% of entrepreneurs who take advantage of SBA mentoring services are still in business…

January 24, 2020 By Bob JudgeEditor, CPR Report CPR Report: Actual 7(a) Prepays Back Above 18% In November, total prepays, including paid excess principal (ACPR), came in at 18.40%, a 7% increase from last month’s reading of 17.25%. After correcting for the excess principal being released from the MRF, pool prepays (CCPR) came in at…