Coleman Report

August 29, 2017 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Financing the Change of Ownership in an EPC SBA’s last week published Federal Register notice contains a cleanup of language and clarification of rules. Most are minor changes. However, SBA will now allow SBA financing for change of ownership…

August 25, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Mark Feathers Apologizes, Asks Court for Release from Jail On Monday, August 28th, Judge Howard Lloyd will determine if Mark Feathers should be released from county jail on bail. Incarcerated since his bail was revoked last March, Mark’s new court-appointed attorney argues Mark…

August 24, 2017 Coleman Movers & Shakers — Hay, Huber & Haut Appointed to New Roles Live Oak Bank Adds Shannon Hay as Loan Officer, Continues Growth with Accounting and Tax Firms “Shannon’s experience helping accounting and tax firms grow and achieve ownership is unmatched,” says Kay Anderson, General Manager of Emerging Markets at Live…

August 22, 2017 SBA Hot Topic Tuesday: Fees for 7(a) Loans Made to Veteran Owned Small Businesses Effective October 1, 2017 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Information Notice 5000-1955 Veteran-owned Small Businesses Upfront Guaranty Fees in FY2018 $125,000 or less: zero SBA Express Loans: zero SBA Veterans Advantage (non-SBA Express Loans)…

August 18, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Bank VP Steals Small Biz Borrower Identities to Make Himself Loans Kirk Russel Marsh, 39, forged the signatures of senior bank officers to approve over $1.25 million in fraudulent loans to small businesses. While employed as a vice president at Virginia-based Fulton Bank,…

August 17, 2017 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — Jason Moxness Joins Core Bank CEO John Sorrell says “As we look at the big picture and at our strategic future, we know we want to expand our presence in the Midwest. We wanted to find the right opportunity…

August 16, 2017 By Bob Coleman Editor, Coleman Report Special SBA Hot Topic Wednesday Edition — 2018 7(a), 504 Fees and SBA One Training Update SBA 7(a) and 504 Fees Effective October 1, 2017SBA 7(a) Loans with maturity of over 12 months: Up to $125,000 – 0%; $125,001 – $150,000 – 2.0%; (Lender is authorized…

August 14, 2017 By Bob Coleman Editor, Main Street Monday Main Street Monday — Free State Small Biz Stats from SBA The Office of Advocacy’s Small Business Profiles are an annual analysis of each state’s small business activities. Each profile gathers the latest information from key federal data-gathering agencies to provide a snapshot of small…

August 11, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Two Years in Jail for Bank VP who Approved Loans with Faked Docs “Joseph Tobin, a former vice president at PBI bank, was sentenced to prison for taking part in a bank fraud scheme while the bank was in TARP,” says Christy Goldsmith…

August 10, 2017 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — Stephen Quinn Appointed President of PCFS Solutions “I am honored to be chosen by Bob Cota and the PCFS Board of Directors as the next leader of this innovative and pioneering business,” says Quinn. “I look forward to working…