Coleman Report
SBA Hot Topic Tuesday — Managing SBA Loan Service Providers and Loan Brokers a Serious Management Challenge for 2018
January 2, 2018 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Managing SBA Loan Service Providers and Loan Brokers a Serious Management Challenge for 2018 Says SBA’s Inspector General in its FY 2018 annual report to SBA management. Writes the OIG: Increased Risk Introduced by Loan Agents Prior OIG audits…
Read MoreFraud Friday — 12 Years in Jail for Sports Memorabilia Fraudster
December 29, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — 12 Years in Jail for Sports Memorabilia Fraudster Years of charismatic lying to get people, and banks, to part with their money and give it to him finally caught up with 44-year old John Rogers in a Chicago courtroom last week. The judge…
Read MoreColeman’s C-Suite Report– Subway Franchisees Closing Stores Amid Sales Decline
December 27, 2017 Coleman’s C-Suite Report– Subway Franchisees Closing Stores Amid Sales Decline Subway is in trouble says Business Insider’s Kate Taylor. Bloomberg Stats US Stores Closed 2017 — 909, down to 25,835 2016 Sales — down 1.7% Foot Traffic — off 25% in the last five years Reports the New York Post In a…
Read MoreFraud Friday — Mark Feathers Guilty of Fraud
December 22, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Mark Feathers Guilty of Fraud The former owner of one of the 14 non-bank SBA lending licenses pled guilty to one count of mail fraud on Wednesday. The remaining 28 counts of fraud are dismissed by the Feds. Sentencing is scheduled for March…
Read MoreColeman Movers & Shakers — John Shen Accepts Coleman SBA 504 Lender of the Year Award
December 21, 2017 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — John Shen Accepts Coleman SBA 504 Lender of the Year Award Coleman: Congratulations on being named Coleman SBA 504 Lender of the Year! “I am flattered and honored. I know this award is one of the highest honors for…
Read MoreC-Suite Wednesday — The New Tax Bill is Good for Main Street!
December 20, 2017 C-Suite Wednesday — The New Tax Bill is Good for Main Street! By Bob Coleman Editor, C-Suite Wednesday You all know about the bill; here are seven bullet points I’ve culled to help you understand how this affects Main Street, and your small business loan portfolio: 1) The small business 20% deduction…
Read MoreSBA Hot Topic Tuesday — SBA Expands “Credit Available Elsewhere” Guidance
December 19, 2017 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — SBA Expands “Credit Available Elsewhere” Guidance SBA issued a notice yesterday listing a slew of technical corrections for the SBA 5010 (J) that will be effective on January 1. An updated SOP was also issued with the technical corrections.…
Read MoreMain Street Monday — NEW Video Coleman Report Update for December 17, 2017!
December 18, 2017 Main Street Monday — NEW Video Coleman Report Update for December 18, 2017! Check out our revamped vlog. This week’s December 18, 2017 stories for Main Street Lenders: Congressman Sanford Bishop talks about USDA b&i lending. SBA Inspector General Claws Back $5 Million from Lenders The 8 Components of SBA Loan Workout…
Read MoreFraud Friday — Borrower Pleads Guilty to $1.7 Million Fraud
December 15, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Borrower Pleads Guilty to $1.7 Million Fraud A Missouri small businessman sold his business for $2 million. United Community Bank loaned the buyers$1.7 million. The problem is Todd Rood, 46, falsified the financials. He claimed profits of over $500,000. Writes the Western District…
Read MoreColeman Movers & Shakers — Live Oak Bank Announces 16th Lending Vertical — Automotive Care Industry.
December 14, 2017 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — Live Oak Bank Announces 16th Lending Vertical — Automotive Care Industry. “The automotive industry is one of the largest in the U.S., yet owners of auto repair businesses may struggle to find financing options to help them grow or…
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