Coleman Report
Governor Michelle Bowman Talks Supporting Small Businesses at a Conference
February 12, 2024 Delaney SextonContributing Editor Governor Michelle Bowman of Federal Reserve Board of Governors Talks Supporting Small Businesses at DC Conference “Of course, in order to create jobs, small businesses need access to sufficient amounts of affordable credit and capital to form, grow, and succeed. Otherwise, they may underperform, not reaching their growth potential…
Read MoreBroward Sheriff’s Office Lieutenant Charged for PPP Fraud – Fraud Friday
February 9, 2024 Delaney SextonContributing Editor Broward Sheriff’s Office Lieutenant Charged for PPP Fraud – Fraud Friday In the first update about the Broward County Sheriff’s Office since October 2023, a former lieutenant is being charged with two counts of wire fraud in connection to $167,000 in PPP loans. To recap, 17 employees of the…
Read MoreHouse Small Business Committee Passes 9 Bipartisan Bills For Consideration In The House
February 8, 2024 Delaney SextonContributing Editor House Small Business Committee Sends Nine Bipartisan Bills to the House “Today’s markup shows that this Committee is committed to producing commonsense, bipartisan legislation,” says Chairman Williams. “The nine bills we marked up and reported favorably out of the Committee address the various needs of Main Street, hold our agencies accountable…
Read MoreBankers Expect Higher Loan Demand and Deteriorating Credit Quality in 2024
February 7, 2024 Delaney SextonContributing Editor Fed Says Bankers See Higher Small Business Loan Demand and Increased Delinquencies in 2024 Many bankers predict a decline in credit quality for commercial loans to small businesses in 2024. According to the Federal Reserve, small businesses are defined as those with annual sales below $50 million. Looking ahead,…
Read MoreMomentus Securities Granted Exclusive SBA 7(a) Pool Assembler Status to Provide Enhanced Business Support
February 6, 2024 Delaney SextonContributing Editor Momentus Securities Receives SBA 7(a) Pool Assembler Status “This is an opportunity to provide enhanced secondary market liquidity to mission-driven lenders that primarily serve business owners working in underserved communities,” says Jaime Aldama, Head of Capital Markets for Momentus Securities, part of the Momentus Capital branded family of organizations.…
Read MoreLive Oak Bank Tops Wyoming SBA 7(a) Lender FY23 List
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 5 $9,700,000 $1,940,000 2 Newtek Small Business Finance, Inc. (NY) 2 $5,350,000 $2,675,000 3 Exos Small Business Lending LLC (CO) 1 $5,000,000 $5,000,000 4 Wells Fargo Bank, National Association (SD) 2 $4,765,000 $2,382,500 5 Byline Bank (IL) 1 $4,462,500 $4,462,500…
Read MoreThe Huntington National Bank is West Virginia’s Top SBA 7(a) Lender for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 The Huntington National Bank (OH) 79 $13,363,000 $169,152 2 GBank (NV) 2 $6,100,000 $3,050,000 3 Live Oak Banking Company (NC) 3 $3,800,000 $1,266,667 4 Community Trust Bank, Inc. (KY) 6 $3,168,300 $528,050 5 WesBanco Bank, Inc. (WV) 1 $3,000,000 $3,000,000 6 Millennium Bank (IL) 1…
Read MoreNew Addition: Carolyn Skog Takes Charge As Senior Regional Account Manager In Stone Bank’s SBA Division
February 5, 2024 Delaney SextonContributing Editor Carolyn Skog Joins Stone Bank SBA Division as Senior Regional Account Manager Carolyn Skog has joined the SBA Division of Stone Bank as a Senior Regional Account Manager according to Vincent “Vinny” Muratore, President of the division. Skog has an undergraduate degree from Texas Tech and was formerly a…
Read MoreHarvest Grows Stronger: Meet The Dynamic New Additions to the Business Development Team – Alex Archer and Tony Ochoa
February 5, 2024 Delaney SextonContributing Editor Harvest Grows Stronger: Meet The Dynamic New Additions to the Business Development Team – Alex Archer and Tony Ochoa Alex Archer Joins as Harvest as SVP, Business Development Officer Alex Archer brings to Harvest over 15 years of proven success in the financial industry. His journey began in retail…
Read MoreCatering Business Owner Indicted For Defrauding PPP, EIDL, & RRF – Fraud Friday
February 2, 2024 Delaney SextonContributing Editor Fraud Friday – Catering Business Owner Indicted For Defrauding PPP, EIDL, & RRF The U.S. Attorney’s Office charged the owner of a California catering company with one count of bank fraud, three counts of wire fraud, and two counts of money laundering. Dory Lindsay Ford is being indicted for…
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