Coleman Report

January 26, 2016 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — 23% Say CDCs aren’t Prudent Economic Developers, 66% Say No to Limiting Executive Compensation Thank you to the 79 who responded to the Coleman poll about SBA’s request for industry input to further clarify certified development company “economic development…

January 25, 2016 by Ben T. Nicholson President of Fortis Business Advisors Main Street Monday — Exiting a Business? Selling the Business vs. Selling the Inventory Every business owner ultimately contemplates getting out of his/her business, either voluntarily or involuntarily. The owner may be seeking a new challenge, exhausted, addressing a downturn or bankruptcy, or…

January 22, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — Borrower Gets 6 Months Home Confinement for Lying to an SBA Lender The fraud by Justin Johnson and his wife consists of two parts. The couple was nailed when Penny Johnson answered “no” on line 16 of SBA Form 1919, “Will more than…

January 21, 2016 By Bob Coleman Editor, Coleman’s Movers and Shakers Coleman Movers & Shakers — Mark Abell Joins NBH Bank as SBA Division Director Mark Abell Joins NBH Bank as SBA Division Director “We are truly excited to have Mark lead our SBA team. This addition emphasizes our continued focus on growing relationships with…

January 20, 2016 By Bob Coleman Editor, C-Suite Wednesday C-Suite Wednesday — Poll: How should SBA Regulate CDC Economic Development Activity? Yesterday, I ran the notice of SBA’s intention to better define a CDC’s economic development commitment. The key issue is the tradeoff between how much cash reserves the CDC should hold, and how much…

January 19, 2016 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — SBA to Define CDC Economic Development Activities One of the fallouts of SBA’s seizure of Frank Dinsmore’s EDF Resource Capital was the eye popping compensation earned by several CDC executive directors. Two earned more than $1 million in our…

January 15, 2016 By Bob Coleman Editor, Fraud Friday Fraud Friday — Bank VP Gets 39 Months for Playing Robin Hood This bizarre fraud case results in a small business lending bank vice president being sent to jail for 39 months, for creating fictitious loans, and disbursing them to his borrowers. He didn’t pocket a…

January 14, 2016 By Bob Coleman Editor, Coleman’s Movers and Shakers Coleman Movers & Shakers Susan Kite promoted to Senior Vice President and Managing Director of SBA Lending at Signature Bank “I am thrilled with the promotion and remain passionate about helping small businesses succeed,” Susan Kite says. “I have great respect for small business…

January 13, 2015 By Bob Coleman Editor, C-Suite Wednesday C Suite Wednesday — 46% of Largest Banks Make No SBA 7(a) Loans In Florida, reports the the South Florida Business Journal. Coleman Report readers know I love stats. So, I wanted to get more behind the numbers of SBA 7(a) loan activity. I believe a…

January 12, 2016 by Walter McLaughlin Contributor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — Matchmaking SBA Style Referrals from District Office personnel. SCORE counseling and workshops. SBA-backed Small Business Development Centers. Thanks to the diligence displayed by all three sources, it’s clear that marketing has always been high on the SBA’s list of…