Coleman Report

March 19, 2020Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Frank Gallagher, NEDCO, and Windsor Advantage Frank Gallagher Joins First Bank of the Lake’s SBA Lending Team as BDO Frank Gallagher recently joined First Bank of the Lake’s SBA Lending team as Senior Vice President, Business Development Officer; Franchise Sales Manager. In Gallagher’s…

March 18, 2020 By: Caity WituckiContributing Editor BREAKING NEWS – Proposed Small Business Emergency Stimulus Package Exceeds $300 Billion White House officials have announced plans to devote increased funding towards helping small businesses. This recovery effort is included in the $1 trillion stimulus package Treasury Secretary Steven Mnuchin announced in response to the coronavirus outbreak.…

March 18, 2020 Affiliation Based on Economic Dependence Clarification – SBA Information Notice 5000-20007 By Bob Coleman Editor, Coleman Report SBA Information Notice 5000-20007 Effective March 17, 2020 On February 10, 2020, SBA published an interim final rule on Express Loan Programs and Affiliation Standards. (85 FR 7622) The interim final rule becomes effective on…

March 18, 2020 By: Caity Witucki Contributing Editor MultiFunding Business Loan Advisors Launch Coronavirus Support MultiFunding Business Loan Advisors recently launched a CoronaVirus Support thread for SBA lenders and borrowers to get the latest information about SBA disaster loans. The thread includes options for community members to ask questions, share information or write a short…

March 18, 2020 By: Caity WituckiContributing Editor, C-Suite Wednesday C-Suite Wednesday – SBA Lenders Enter Uncharted Territory With COVID-19 Disaster Loans Last week, the President instructed Congress to increase SBA funding by an additional $50 billion so that the Agency could provide capital and liquidity to small businesses affected by the Coronavirus. However, A Congressional…

March 17, 2020 By: Caity Witucki Contributing Editor BREAKING NEWS – White House Announces $250 Billion Small Business Stimulus Package This morning, U.S. Treasury Secretary, Steven Mnuchin, announced the Administration’s plans to introduce a $850 billion stimulus package in response to the coronavirus outbreak. $500 billion of the White House proposal would come from the…

March 17, 2020 By: Caity Witucki Contributing Editor Senator Marco Rubio Discusses COVID-19 Relief Bill Appearing this morning in an interview on “Fox & Friends” with hosts Steve Doocy, Ainsley Earhardt, and Brian Kilmeade, Senator Marco Rubio discussed the proposed COVID-19 relief bill that was presented by House Small Business Committee Chairwoman, Nydia M. Velázquez…

March 17, 2019 By Caity WituckiContributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday —Chairman Rubio Introduces Bill to Help Small Businesses Impacted by Coronavirus Last week, U.S. Senator Marco Rubio, Chairman of the Senate Committee on Small Business and Entrepreneurship, introduced a targeted proposal to open up the SBA’s 7(a) loan program to…

March 16, 2020 Main Street Monday — Ohio and Illinois Close all Restaurants By Bob Coleman Editor, Coleman Report And the hits keep on coming. In a major blow to Main Street, Ohio and Illinois have closed all restaurants and bars. “I’m aware that this will impact many, many good workers. I can’t tell you…

Best Practices for SBA Lending Department Managers of Remote Employees — A Coleman Webinar Home Speakers Agenda Registration 75-minutes of Online Training for your staff A Coleman Webinar DATE: Friday, March 27, 2020 Time: 2:00 p.m. Eastern Download a Registration Form So, the challenge for SBA department managers and the C-Suite is to track productivity of…