SBA Hot Topic Tuesday: 7(a) and 504 Fees Effective October 1, 2016

SBA Hot Topic Tuesday: 7(a) and 504 Fees Effective October 1, 2016 By Bob Coleman Editor, SBA Hot Topic Tuesday For 7(a) loans greater than $150,000 (except certain loans to veterans) approved in FY17 The annual service fee will be increased to 0.546% (54.6 basis points) of the guaranteed portion of the outstanding balance of…

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Coleman Report Special Edition — SBA 504 Processing Update

September 16, 2016 By Bob Coleman Editor, Coleman Report Coleman Report Special Edition — SBA 504 Processing Update The frustration of the industry with the Sacramento Loan Processing Center going off the grid for the past several weeks is also off the grid. The industry is angry. Period. 90% don’t believe everything is working as…

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Fraud Friday — Fake Heisman Trophy Secured $100,000 Loan

September 16, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — Fake Heisman Trophy Secured $100,000 Loan Lenders duped with fraudulent collateral by borrowers is not new. Some fake financial statements and AR borrowing bases. Some fake car titles. Some fake cow herd counts. And one enterprising fraudster faked a Heisman trophy. Prosecutors say…

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SBA Hot Topic Tuesday — What is Happening in Sacramento?

September 13, 2016 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — What is Happening in Sacramento? With loan processing outages at the SBA 504 loan processing center. I don’t know. So I ask. SBA tells me, “SLPC server issues have been resolved. CDC submissions are being received and processed in…

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Main Street Monday — SBA 7(a) Secondary Market Quotes

September 12, 2016 By Bob Coleman Editor, Main Street Monday SBA 7(a) Secondary Market Quotes as of September 6, 2016 Maturity Spread Price Weekly % Change Monthly % Change 8 Years P + 2.75 109.000 +0.114% -0.321% 10 Years P + 2.75 112.750 +0.177% -0.487% 15 Years P + 2.75 113.250 +0.110% +0.044% 20 Years…

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SBA Hot Topic Tuesday — Inspector General Denys $850,000 SBA 7(a) Guaranty

SBA Hot Topic Tuesday — Inspector General Denys $850,000 SBA 7(a) Guaranty By Bob Coleman Editor, SBA Hot Topic Tuesday A $1.6 million SBA 7(a) approved by Newtek Small Business Finance was audited by the Inspector General and the guaranty was denied. Under it’s high-dollar/early-default review program — loans over $500,000 defaulting within 18 months…

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Coleman’s Movers and Shakers — Leticia Scearce Named Senior Vice President of Grandpoint Bank

September 1, 2016 By Bob Coleman Editor, Coleman’s Movers and Shakers Coleman’s Movers and Shakers — Leticia Scearce Named Senior Vice President of Grandpoint Bank “Government guaranteed lending is an increasingly important component of our lending program,” says David J. Ross, executive vice president & chief credit officer of Arizona and California-based Grandpoint Bank. “If…

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C-Suite Wednesday — SBA 7(a) Secondary Market Quotes

August 31, 2016 By Bob Coleman Editor, C-Suite Wednesday Tomorrow is the last day to register for the 9th Annual SBA Secondary Market Summit early-bird price of $995. Join this high-level gathering of public and private stakeholders to review strategies for capitalizing on emerging opportunities and avoiding new threats and pitfalls. 9th Annual SBA Secondary…

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