Coleman Report

March 27, 2020  By Caity WituckiContributing Editor, Fraud Friday Fraud Friday – Luxury Car Dealer Charged in $2.6 Million Loan Fraud Ring Last week, the California Department of Insurance (CDI) took Yeghishe Msryan, into custody after he was arrested in Poland and extradited back to Los Angeles for his alleged involvement in an organized fraud…

March 26, 2020  By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Rhonda Pointon, Brent Donnelly, and Webster Bank Rhonda Pointon Becomes President and CEO of NADCO On Tuesday, NADCO introduced Rhonda Pointon as its new President and CEO. Pointon has served in the SBA lending industry for over 30…

March 25, 2020  By Caity Witucki Contributing Editor BREAKING NEWS — Senate Passes CARES Act Unanimously The U.S. Senate voted unanimously on Wednesday night to approve S.3548, the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The bill was introduced last week by senator Mitch McConnell and includes nearly $300 billion in SBA 7(a) loan…

March 25, 2020  By Caity Witucki Contributing Editor BREAKING NEWS — Trump Says he is Prepared to Sign the CARES Act “Immediately” During a White House briefing Wednesday evening, President Trump announced that he is prepared to sign the CARES Act immediately.  “Democrats and Republicans in the Senate are very close to passing the emergency…

SBA Lending and the $2 Trillion Stimulus Package — What it Means for SBA Lenders Home Speakers Agenda Registration SBA Lending and the $2 Trillion Stimulus Package — What it Means for SBA Lenders 75 minutes of Online Training for your staff A Coleman Webinar Date: Wednesday, April 1, 2020 Time: 2:00 p.m. Eastern Download…

March 25, 2020 By: Caity WituckiContributing Editor, C-Suite Wednesday C-Suite Wednesday – Senate is Close to Passing $2 Trillion Coronavirus Aid Package Treasury Secretary, Steven Mnuchin, and Senate Minority Leader, Chuck Schumer, say they are “very close” to an agreement on the nearly $2 trillion coronavirus economic rescue package, raising the possibility of a Senate…

March 24, 2020 By Caity WituckiContributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Guidance on Deferments for 504 Loans for Businesses Adversely Affected by COVID-19 SBA issued Information Notice 5000-20008 on March 20, 2020, to strongly encourages its lending partners to offer deferment relief to borrowers that have been adversely affected by…

March 23, 2020 By: Caity WituckiContributing Editor, Main Street Monday Main Street Monday – Chinese Small Businesses Slowly Recover from COVID-19  Small businesses are slowly reopening in China as the deadly outbreak of the novel coronavirus declines. Recent estimates from Wu Haishan, the Vice President of WeBank in China, suggests that Chinese businesses outside of…

March 20, 2020 By Caity WituckiContributing Editor, Fraud Friday  Fraud Friday – Disagreement During Bank Fraud Scheme Results in Murder   Atlanta resident, Brejon Nabors, will spend the rest of his life behind bars after being convicted for murdering his partner in a bank fraud scheme. According to the Fulton County District Attorney’s office, Brejon Nabors…

March 19, 2020 By: Caity WituckiContributing Editor BREAKING NEWS: Senate Proposes Keeping Workers Paid and Employed Act — $300 Billion in 7(a) Loans, Increases 7(a) Limits to $10 Million, $1 Million Express Thursday afternoon, the Senate introduced another emergency stimulus package to aid small businesses impacted by the ongoing coronavirus outbreak. The proposed stimulus package,…