Coleman Report
Nik Patel’s Fraud Continues – Wife Pleaded Guilty for Her Role in a Loan Fraud Scheme
June 17, 2024 Delaney SextonContributing Editor Nik Patel’s Fraud Continues – Wife Pleaded Guilty for Her Role in a Loan Fraud Scheme Nikesh Patel carried out two fraud schemes where he created fictitious loans and used fraudulent means to have them guaranteed by the USDA or made them appear to be guaranteed by the USDA.…
Read MoreSBA 7(a) Lending Stats by Business Age
June 17, 2024 Delaney SextonContributing Editor SBA 7(a) Lending Stats by Business Age For fiscal year 2024, these are the lending statistics by loan size as of June 16, 2024:
Read MoreHow to Underwrite the SBA Business Acquisition Loan — Webinar 7/17
How to Underwrite the SBA Business Acquisition LoanAre you Maximizing Lending in this Profitable Niche? A Coleman WebinarDate: Wednesday, July 17, 2024Time: 2:00 p.m. Easterna 75-minute webinar that lets staff earn e-certification Ten Thousand Baby Boomers retire every day. And they own 40% of United States Small Businesses. Comprising 24% of SBA loan dollars and…
Read MoreFour HOAs and Country Clubs Paid $5.8 Million to Settle PPP False Claims Act Allegations – Fraud Friday
June 14, 2024 Delaney SextonContributing Editor Four HOAs and Country Clubs Paid $5.8 Million to Settle PPP False Claims Act Allegations – Fraud Friday One individual, Wade Riner, filed several lawsuits under the False Claims Act in August 2022. One lawsuit alone alleged that dozens of Colorado condominiums, homeowners associations, and country clubs knowingly applied for…
Read MoreNavigating the Regulatory Maze: A Comprehensive Guide for Managing the SBA Loan Broker – A Coleman Webinar 7/10
● Your SBA Loan Brokers — Are They Following the Rules?● Lender Responsibility for the Actions of their Referral Sources Attend the Live Webinar EventWednesday, July 10, 20242:00 PM EasternIncludes recording & e-certification Are you a SBA lender struggling to navigate the complex web of regulations and compliance requirements with your loan brokers? Referrals from…
Read MoreReady Capital Announces the Acquisition of Madison One
June 13, 2024 Delaney SextonContributing Editor Ready Capital Announces the Acquisition of Madison One Ready Capital Chief Executive Officer, Thomas Capasse says: “We’re excited to acquire Madison One, a leading USDA loan originator and servicer. The transaction is expected to generate more than $300 million of USDA volume annually, expanding our government-guaranteed small business offerings,…
Read MoreSBA 7(a) Lending Stats by Loan Size
June 13, 2024 Delaney SextonContributing Editor SBA 7(a) Lending Stats by Loan Size For fiscal year 2024, these are the lending statistics by loan size as of June 12, 2024:
Read MoreSmall Businesses’ Share of Total Revenue is Falling Behind
June 12, 2024 Delaney SextonContributing Editor Small Businesses’ Share of Total Revenue is Falling Behind Receipts are defined as “operating revenue for goods produced or distributed or for services provided.” In 1963, small businesses had receipts of $3.26 trillion, making up 56.8% of all receipts. Since then, larger businesses have been able to grow much…
Read MoreSBA 7(a) Lending Stats By Veteran Status
June 12, 2024 Delaney SextonContributing Editor SBA 7(a) Lending Stats By Veteran Status For fiscal year 2024, these are the lending statistics by veteran status as of June 11, 2024:
Read More6% of Small Business Owners Say Financing is their Top Business Concern
June 11, 2024 Delaney SextonContributing Editor 6% of Small Business Owners Say Financing is their Top Business Concern The NFIB Optimism Index rose 0.8 of a point in May, which is the highest reading so far this year. Small business owners’ uncertainty was much stronger this month. The Uncertainty Index increased by 9 points to…
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