Coleman Report
Fraud Friday — Georgia Banker Gets 7 Years for Bank Fraud, Refinancing Non-Performing Loans with an SBA Guaranty
June 10, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — Georgia Banker Gets 7 Years for Bank Fraud, Refinancing Non-Performing Loans with an SBA Guaranty “Today, another TARP banker was sentenced to jail for hiding a bank’s past due loans during the crisis to make the bank appear healthy,” says Christy Goldsmith Romero,…
Read MoreLiberty SBF Secures $75 Million in B Round Capital Raise, Expands Credit Facility Commitments
June 9, 2016 Liberty SBF Secures $75 Million in B Round Capital Raise, Expands Credit Facility Commitments Includes Increase to Credit Facility Led By Capital One Bank; Company Meets Surging Need From Small Business Owners For Commercial Property Financing Liberty SBF (www.LibertySBF.com), the experts in commercial real estate lending, announced today that it has added…
Read MoreSBA Tech Issues Disrupting Main Street Fundings
June 9, 2016 SBA Tech Issues Disrupting Main Street Fundings By Bob Coleman Editor, Coleman Report 90% of the industry says SBA’s recent email and 504 processing issues and are directly impacting their ability to deliver capital to Main Street. With Sacramento off the grid, and lack of certainty if emails are being delivered, lenders…
Read MoreC- Suite Wednesday — SBA 504 Loan Program Update and New Forms
June 8, 2016 By Bob Coleman Editor, C-Suite Wednesday C- Suite Wednesday — SBA 504 Loan Program Update and New Forms Several lenders have reached out to me expressing their frustration of SBA’ s recent email and 504 processing problems. This is obviously a concern given the significant amount of refi applications beginning June 24th.…
Read MoreMandatory SBA CLS Account Recertification
June 7, 2016 By Bob Coleman Editor, SBA Hot Topic Tuesday IMPORTANT: Mandatory SBA CLS Account Recertification starts June 06, 2016 and ends July 11, 2016. The process has been made available electronically from the Security Recertification module. Partner Authorizing Officials will be required to re-certify users’ accounts and access rights. Accounts that are not…
Read MoreMain Street Monday — Harvest Small Business Announces Management Team for 7(a) License Bought from Mark Feathers’ Court-Appointed Receiver.
June 6, 2016 By Bob Coleman Editor, Main Street Monday Main Street Monday — Harvest Small Business Announces Management Team for 7(a) License Bought from Mark Feathers’ Court-Appointed Receiver. Co-Managers Todd Massas and Adam Seery have joined the senior management team at Harvest as Managing Directors, and will jointly oversee sales, originations, and strategic portfolio…
Read MoreColeman’s Movers and Shakers
June 3, 2016 By Bob Coleman Editor, Movers and Shakers Diane Gallion Hired as National Director of Government-Guaranteed Lending at Radius Bank In addition to the Chicago team, Radius has new small-business lending personnel in Pennsylvania, Florida, Colorado and Arizona. “We think the community bank today doesn’t have to be confined to the community it…
Read MoreIndustry Comments Overwhelmingly Slam SBA Oversight Bill
June 2, 2016 By BoB Coleman Editor, Coleman Report Industry Comments Overwhelmingly Slam SBA Oversight Bill Final Survey Results (162 participants) Do you support the bill as presented? Yes — 13% No — 87% Assume SBA’s 7(a) oversight fee increase is a fait accompli to the industry. How should it be paid for? Premium Split…
Read MoreC-Suite Wednesday — SBA OIG Targets Live Oak Bank’s Poultry SBA 7(a) Lending
June 1, 2016 By Bob Coleman Editor, C-Suite Wednesday C-Suite Wednesday — SBA OIG Targets Live Oak Bank’s Poultry SBA 7(a) Lending Live Oak Bank’s SBA niche lending strategy is drawing the attention of SBA’s Inspector General. The bank entered the poultry farm market in 2014 — approving $611 million of loans to 309 farms…
Read MoreSBA Hot Topic Tuesday — 73% of Industry Says Replace SBA 7(a) Premium Split with Portfolio Fee
May 31, 2016 By. Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — 73% of Industry Says Replace SBA 7(a) Premium Split with Portfolio Fee Through 12 p.m. EST today, 119 people have responded to our Friday survey canvassing the industry about its support and thoughts of the pending Small Business Lending…
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