Coleman Report

August 3, 2017 By Bob Coleman Editor, Coleman Movers and Shakers Coleman Movers & Shakers — ReadyCap Lending Adds Christy Lester and Rick McMannl ReadyCap Lending Adds Christy Lester as Senior Vice President for SoCal “Getting Christy on board is a big deal. She is a proven leader and an industry elite top producer,” says…

August 2, 2017 By Bob Coleman Editor, C-Suite Wednesday C-Suite Wednesday — California Small Biz Lender Operations in Jeopardy — Insufficient Capital and Excessive Travel Costs Cited After a highly-critical audit by the state of California in April, SAFE-BIDCO has received a letter from a state agency to prepare a self-liquidation plan. SAFE-BIDCO is a…

July 28, 2017 By Bob Coleman Editor, Fraud Friday Fraud Friday — Former Bank Vice President Pleads Guilty to Employment Tax Conspiracy Once a small business falls behind on its IRS payroll tax obligations the debt multiplies quickly with interest and added penalties. And, criminal penalties apply to owners and anyone with signing authority on…

July 26, 2017 By Bob Coleman Editor, C-Suite Wednesday C-Suite Wednesday — Senate Restores USDA B&I Lending Authority On June 30, I reported the House appropriated funding for rural Main Street that had been cut in the FY18 Budget. Last week, the Senate followed the House lead to restore funding to the USDA B&I Loan…

July 24, 2017 By Bob Coleman Editor, Main Street Monday Main Street Monday — Bank of America Goes Mobile with Small Biz Lending App Will the app compete with FinTech lenders who market immediate approvals and next-day funding? “No.” Sharon Miller, head of Small Business Banking at Bank of America told me. “We use the…

July 21, 2017 Fraud Friday — SBA Borrower Pleads Guilty for Siphoning Loan Proceeds for Personal Use By Bob Coleman Editor, Fraud Friday John Cheng signed SBA Form 4 certifying BNB Hana Bank proceeds of a $3.75 million loan from BNB Hana Bank would be used to open a restaurant in Skilllman, New Jersey. Cheng’s…

August 8, 2017 Are you making decisions off of impartial data? Could you improve your analysis of borrower risk by leveraging more types of data? In this latest Moody’s Analytics article, Dr. Douglas Dywer discusses how to increase the accuracy of probability of default (PD) calculations for both small firms and medium-sized enterprises by considering…

July 20, 2017 Coleman’s Movers & Shakers — Kim Named 1st Security Bank SBA Sr VP By Bob Coleman Editor, Coleman’s Movers & Shakers 1st Security Bank announces that C. Han Kim has joined the Bank as Senior Vice President and SBA Division Manager “We are thrilled to have the opportunity to add an SBA…

July 18, 2017 CPR Report: 7(a) Prepays Stay Above 9% By Bob Judge Editor, CPR Report In May, prepays fell by 5%, but stayed above CPR 9% for a second month in a row, coming in at CPR 9.06%. An decrease in both defaults (CDR) and voluntary prepayments (CRR) led to the fall in the…

July 17, 2017 By Bob Coleman Editor, Main Street Monday Main Street Monday — Small Biz Owners have a 70% Approval Rating Says Gallup. Americans have as much confidence in small business owners as the military in its June poll. Here’s the list of of those that have a great deal or quite a lot…