Coleman Report

October 24, 2018 By Dominic J Bartolone Contributing Editor, C-Suite Wednesday C-Suite Wednesday — Small Business Loan Truth-in-Lending Disclosures Mandated by California Consumer-style Truth in Lending disclosure is coming to California’s small business lenders for loans less than $500,000. The new law signed by Governor Jerry Brown affects non-bank lenders. Regulated financial institutions, e.g. banks…

October 23, 2018 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Updated SBA Loan Chart SBA has compiled a very good chart summarizing all of its loan programs with updated fees as of October 1. You may download it here.

October 19, 2018 Fraud Friday — Dental Office Manager Indicted for Embezzling Employer of $338,000 By Bob Coleman Editor, Fraud Friday It started with a letter from the IRS accusing Dr. Mehmet Kahvecci of underreporting his dental practice income in 2013 by $100,000. He filed a tax return showing gross income of $1,513,665 but the…

October 18, 2018 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — Steven Doss, Darrick Brown, Robyn Drago, James Steube Steven Doss Joins Union Bank as SBA Sales Manager “At Union Bank, we believe that small businesses are the economic life blood of our communities,” says Kirsten “Didi” Hakes, Managing Director,…

October 17, 2018 By Bob Coleman Editor, C-Suite Wednesday C-Suite Wednesday — SBA FY18 total loan volume reaches more than $30 billion with more than 72,000 approved loans “We are providing tools, resources and access to capital for America’s 30 million small businesses, and our FY18 numbers bear that out,” says SBA Administrator Linda McMahon.…

October 15, 2018 By Mary Miller Contributing Editor, Main Street Monday Main street Monday — Increased Optimism for Women-Owned Businesses Women entrepreneurs are celebrating National Women’s Small Business month this October with an increased optimism about the future of their small businesses. “Every week it seems there is a new survey showing that small business…

October 12, 2018 By Bob Coleman Editor, Fraud Friday Fraud Friday — Wisconsin Green Energy Fraudster Pleads Guilty to Bank Fraud A Wisconsin entrepreneur who conned EB-5 investors, banks and an EDC out of $9 million is heading to jail. Prosecutors want 7 ½ years in exchange for the one bank fraud count guilty plea…

October 11, 2018 By Bob Coleman Editor, SBA Hot Topic Thursday SBA Hot Topic Thursday — Credit Elsewhere and the Personal Resource Test SBA wants to bring back the Personal Resource Test. Eliminated in 2014, the proposed rule is actually not too bad. SBA is proposing to require an injection of cash to reduce the…