Coleman Report

February 18, 2021 Caity RoachEditor Coleman Movers & Shakers – Renèe Bender, Margaret Griffin, and Jenni Shover Renèe Bender Joins NADCO as New Vice President of Government Relations Renée Bender joins NADCO from the SBA, where she served as a Senior Advisor in the Office of Rural Affairs and focused on access to capital and…

February 19, 2021 Caity RoachEditor Fraud Friday – Bookkeepers Embezzle Over $1 Million From Small Business Clients “People need to know who these people really are,” says George Lambos, the owner of a small business restaurant that was defrauded by Patricia Lindau and her husband, Kjell Lindau.  “It’s sickening,” Lambos says of the situation. He…

February 17, 2021 Caity RoachEditor C-Suite Wednesday – Establishing Loan Maturities for Section 1112 Debt Relief Payments Last Friday, the SBA issued a Procedural Notice which provides guidance on establishing maturities of new 7(a) loans eligible to receive debt relief payments under Section 1112 of the CARES Act.  For each new 7(a) loan approved beginning…

February 15, 2021 Caity RoachEditor Main Street Monday – House Committee Approves $25 Billion Restaurant Grant Program “As we approach the one-year mark of pandemic-related dining restrictions, we know that virtually every restaurant in every community has been impacted,” says Tom Bené, President and CEO of the National Restaurant Association. “The year ahead will be…

February 16, 2021 Caity RoachEditor SBA Hot Topic Tuesday – SBA Revises the Procedures for Addressing PPP Hold Codes When a Lender submits a PPP second draw loan application, the SBA will run the application data through a validation process. That validation process may return a Hold Code or Error Message that requires input from…

February 12, 2021 Caity RoachEditor Fraud Friday – Bank CEO Hides Nearly $1 Billion in Fraudulent Loans from Regulators “Today’s indictment sends a clear message that bank executives who engage in fraud that impacts the safety and soundness of financial institutions will be held accountable for their actions,” says the Acting Special Agent for the…

February 11, 2021 Caity RoachEditor Coleman Mover & Shakers – Maria Randall, Greg Young, and Wyndie Dwyer Maria Randall Joins First Business Bank as Vice President of SBA Lending “We’re thrilled to welcome Maria to our team here at First Business Bank,” says Marty Ferguson, Managing Director of SBA Lending. “Her personalized approach will be…

February 10, 2021 Caity RoachEditor C-Suite Wednesday – NADCO’s Recommendations for the New Administration’s First 100 days On January 25, 2021, the National Association of Development Companies (NADCO) released a white paper listing the trade organization’s top priorities and recommendations for the Biden-Harris Administration’s first 100 days.  In the white paper, NADCO encourages the new Administration to…

February 9, 2021 Caity Roach Editor SBA Hot Topic Tuesday – How to Resolve  PPP Hold Codes According to a recent poll conducted during the Coleman Report Live daily show, most (72%) PPP lenders still do not know how to resolve a hold on a First Draw PPP loan. As a result, 85% of PPP…

February 8, 2021 Caity RoachEditor Main Street Monday – Over Half of Small Businesses Surveyed Say 2020 Revenues Were Down More Than 25% According to the Federal Reserve’s latest Small Business Credit Survey, The vast majority of small businesses (95%) were impacted by the pandemic. 26% of the small businesses impacted closed temporarily, 56% reduced…