Coleman Report
Adhere to the “Spirit of the SBA” in Taking Residences for “All Available Collateral”
March 19, 2025 Bob ColemanFounder & Publisher Adhere to the “Spirit of the SBA” in Taking Residences for “All Available Collateral” In a recent Coleman webinar moderated by Leslie Tripp, the Doeren Mayhew portfolio review team discussed SBA 7(a) loan compliance exceptions they had found in lender portfolios. One exception was particularly noteworthy. The lender…
Read MoreUS 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…
Read MoreB 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…
Read MoreMichigan 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…
Read MoreRobert Nelson Retires, Carlos Torres Joins First Internet Bank, Harvest Hires Mark Langdon
March 13, 2025 Bob ColemanFounder & Publisher Robert Nelson Retires, Carlos Torres Jr. Joins First Internet Bank, Harvest Hires Mark Langdon Carlos Torres Jr. Joins First Internet Bank as Vice President, Senior Business Development Officer “The SBA experience Carlos has is an asset to our team and our clients,” says First Internet Bank Vice President,…
Read MoreHouse Small Business SubCommittee Holds a Hearing of the Importance of SBA Staff in the Field
March 12, 2025 Bob ColemanFounder & Publisher House Small Business SubCommittee Holds a Hearing of the Importance of SBA Staff in the Field The following questions were posed to Missouri State SBDC Director Ted Gutierrez (pictured right) about moving staff out of Washington, D.C. to the states and streamlining SBA lending programs: Chairman Alford: Can…
Read MoreSBA 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…
Read MoreSBA’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…
Read MoreSBA 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 –…
Read MoreFirst 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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