Coleman Report
How do You Feel about the Proposed SBA 7(a) Oversight Legislation?
May 27, 2016 How do You Feel about the Proposed SBA 7(a) Oversight Legislation? Please answer our quick one minute poll. Results will be published next week. (Poll Closes Tuesday at 3:00pm ET) Submit answers to joseph@colemanreport.com. Do you support the bill as presented? Yes No Assume SBA’s 7(a) oversight fee increase is a fait…
Read MoreBreaking News — Senate Introduces Bill to Lower SBA 7(a) Premium Split from 110 to 108
May 26, 2016 By Bob Coleman Editor, Coleman Report Breaking News — Senate Introduces Bill to Lower SBA 7(a) Premium Split from 110 to 108 In this morning’s hearing, Senate Small Business Chair David Vitter (R-LA) introduced legislation to reduce the SBA 7(a) premium split from 110 to 108 and impose a 3 basis point…
Read MoreC-Suite Wednesday — SBA OIG Continues to Hammer the Agency on Improper SBA 7(a) and 504 Guaranty Payments
May 25, 2016 By Bob Coleman Editor, C-Suite Wednesday C-Suite Wednesday — SBA OIG Continues to Hammer the Agency on Improper SBA 7(a) and 504 Guaranty Payments In its May 13, 2016 report, the SBA Inspector General says SBA continues to make mistakes on SBA 7(a) loan guaranty purchases by not identifying lender documentation errors.…
Read MoreSBA Hot Topic Tuesday — SBA to Accept SBA 504 Apps Beginning June 24th
May 24, 2016 SBA Hot Topic Tuesday — SBA to Accept SBA 504 Apps Beginning June 24th By Bob Coleman Editor, SBA Hot Topic Tuesday Announces SBA Administrator Maria Contreas-Sweet at today’s NADCO conference. 1. The new rules will be published tomorrow in the Federal Register. SBA will begin processing applications this June 24th. 2.…
Read MoreMain Street Monday — Fountainhead Commercial Capital Snags $23 Million Series A Funding
May 23, 2016 By Bob Coleman Editor, Main Street Monday Fountainhead Commercial Capital secures $23 Million for SBA 504 lending. Alternative asset manager Magnetar Capital, through its affiliated funds, invested $23 million in a Series A round of financing, joining an affiliate of 20 Gates Management, an asset management firm based in New York, as…
Read MoreFraud Friday — Loan Broker Pleads Guilty to Bribing SBA Department Manager
May 20, 2016 By Bob Coleman Editor, Fraud Friday Jocelyn J. Brown, a loan broker for the now-defunct San Diego-based La Jolla Bank, has pled guilty to making false statements in relation to an investigation into bribes paid to the bank’s Vice President and SBA lending department manager Amalia Martinez. As part of her guilty…
Read MoreColeman’s Movers and Shakers
May 19, 2016 By Bob Coleman Editor, Movers and Shakers The SBIC Summit: Increased Profit, Improved Regulatory Compliance How to Form, Launch and License a Small Business Investment Company Meet, hear and network with influential banking, SBIC, legal and finance experts as they discuss the attractive incentives for banks and investment managers to embrace the…
Read MoreSBA Hot Topic Tuesday — Top 2015 SBA Hotel Lenders
May 17, 2016 By Bob Coleman Editor, SBA Hot Topic Tuesday For the calendar year 2015: Top Ten 7(a) Lenders by Loan Amount (2015) January 1, 2015 – December 31, 2015 721110 — Hotels (except Casino Hotels) and Motels BBCN Bank — 41 7(a) Loans $77,216,500 (Gross Approval) Pacific Premier Bank — 37 7(a) Loans $74,631,826 (Gross…
Read MoreFraud Friday — Banker, Movie Producer Charged in PhotoShopping $13 Million of Fake Financing Docs to Secure $2.5 Million Loan
May 13, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — Banker, Movie Producer Charged in PhotoShopping $13 Million of Fake Financing Docs to Secure $2.5 Million Loan “Rodney Dunn is charged with using his employment at a TARP bank to defraud lenders in a movie production financing scheme,” says Christy Goldsmith Romero, Special…
Read MoreColeman’s Movers and Shakers
May 12, 2016 Coleman’s Movers and Shakers By Bob Coleman Editor, Coleman’s Movers and Shakers ReadyCap Lending hires Mark Gibson as the new National Sales Manager “We are thrilled to bring such a competent leader on board to spearhead our business growth initiatives,” says John Moshier, president of ReadyCap. “Mark is a proven leader in…
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