US Citizenship Documentation

March 18, 2025 Bob ColemanFounder & Publisher SBA Hot Topic Tuesday — US Citizenship Documentation by Lance SextonPhoenix Lender Services In response to the SBA policy updates to comply with Executive Order 14159 regarding citizenship requirements for obtaining 7(a) and 504 loans following is a best practice you may wish to use. Basics: An applicant…

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B of A Says Main Street Use of Credit Cards for Financing Decreasing 

March 17, 2025 Bob ColemanFounder & Publisher Main Street Monday — B of A Says Main Street Use of Credit Cards for Financing Decreasing  “However, in our view, pressure on credit card usage might ease as credit availability improves and interest rates fall. Additionally, loan payment growth, after being largely negative the past year, is…

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Michigan CPA Pleads Guilty for 226 SBA PPP Loan Fraud Applications

March 14, 2025 Bob ColemanFounder & Publisher Fraud Friday — Michigan CPA Pleads Guilty for 226 SBA PPP Loan Fraud Applications Matthew Parker, a licensed CPA from Detroit, Michigan, conspired to defraud lenders of over $14 million in PPP COVID-19 relief loans and plead guilty to one count of loan fraud. Matthew recruited hundreds of…

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SBA Announces Made in America Initiative

March 11, 2025 Bob ColemanFounder & Publisher SBA Hot Topic Tuesday — SBA Announces Made in America Initiative “The great American comeback starts with restoring American industry,” says SBA Administrator Kelly Loeffler.  “With the Made in America Manufacturing Initiative, we’re slashing red tape, expanding access to capital, and fueling a manufacturing resurgence that will create…

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SBA’s New Citizenship Requirements for SBA 7(a) and 504 Loans

March 10, 2025 Bob ColemanFounder & Publisher Main Street Monday — SBA’s New Citizenship Requirements for SBA 7(a) and 504 Loans The first lender policy notice signed by Administrator Kelly Loeffler eliminates the ability of a foreign investor to own up to 49% of a small business and receive SBA financing. The only acceptable borrowers…

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SBA and COVID-19 Loan Fraud 

March 7, 2025 Bob ColemanFounder & Publisher SBA and COVID-19 Loan Fraud  SBA Administrator Kelly Loeffler’s First Day Memo emphasized “cracking down” on loan  fraud: “SBA’s loan programs should be a powerful tool for empowering small business formation and delivering critical aid to disaster victims.  “The prior Administration left these programs with unaddressed fraud –…

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First Internet Bank Promotes David Bybee; Brian Burke, SBA District Director AQ (Adalberto Quijada) and USDA’s Tammy Laizure Retire 

March 6, 2025 Bob ColemanFounder & Publisher Movers & Shakers Thursday — First Internet Bank Promotes David Bybee; Brian Burke, SBA District Director AQ (Adalberto Quijada) and USDA’s Tammy Laizure Retire   First Internet Bank promotes David Bybee to lead SBA lending operations First Internet Bank has promoted David Bybee to Senior Vice President of Government…

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