Coleman Report

October 30, 2015 By Bob Coleman Editor, Fraud Friday Fraud Friday — 78 Months for $3 Million Bank Director Fraud A former community bank director and majority shareholder of two community banks is going to jail for bank fraud. Richard Gregg will serve 78 months in prison for collateral conversion and bankruptcy fraud. In February…

By Robert Judge CEO, Government Loan Solutions Editor, CPR Report Needed Changes to Ensure SBA 7(a) Secondary Market Pool Vitality The key to sustainable pooling that utilizes a Social Security Fund type of architecture is for the SBA is to do whatever they can to encourage pooling and, to a lesser extent, lowering the WAC…

C-Suite Wednesday — CREED Act of 2015 Will Help U.S. Small Business Owners Succeed October 28, 2015 By Alex Cohen CEO Liberty SBF Last April, two Senators Jeanne Shaheen (D-N.H.) and Johnny Isakson (R-Ga.) introduced the CREED Act of 2015 (S. 966) into the Senate, a bill that would reinstate the SBA 504 Loan Refinancing…

October 27, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — What is a Fair % of 7(a) Secondary Market Premiums to Pay SBA BDO’s? From the Survey. First, thanks to the 100 plus who answered the survey. The surprising result is 13% say SBA prohibits lender-employed BDOs to participate…

October 26, 2015 By Bob Coleman Editor, Main Street Monday Main Street Monday — PayNet Combines Big Data with Big Experience William Phelan is one of the nation’s leading experts on small business credit trends and is president and co-founder of PayNet, Inc. As President, Mr. Phelan has grown PayNet into a firm with the…

October 22, 2015 By Bob Coleman Editor, Fraud Friday Fraud Friday — Nik Patel’s Partner Sued for $4.5 Million from USDA B&I Loan Fraud On Monday, the court ordered receiver attempting to recover assets in the alleged Nik Patel fraud, filed a civil complaint against Timothy Fisher to recover $4.5 million. The money was paid…

October 22, 2015 By Bob Coleman Editor, Movers and Shakers Coleman’s Movers and Shakers David Bell Named Senior Vice President of Business Development for American Business Lending “David’s career history shows he is an accomplished loan originator for SBA 7(a) loans and has extensive experience especially in originating SBA-franchise related loans,” says Texas-based ABL CEO…

October 21, 2015 By Bob Coleman Editor, C-Suite Wednesday C-Suite Wednesday — What Percentage of SBA 7(a) Secondary Market Premiums Should the BDO Receive? I received this question and am turning it over to the industry in the form of a poll. Please take a minute and I’ll publish the results next week. Take the…

October 20, 2015 By Walter McLaughlin Contributor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday — 10 Underwriting Tips for SBA Change of Ownership Loans First of a two part series With the economy on the rebound and roughly 10,000 baby boomers retiring every day in the United States, it’s no surprise that change of…

October 19, 2015 By Bob Coleman Editor, Main Street Monday Main Street Monday — My Five Takeaways from a Small Business Alternative Lending Conference “Alternative” small business lenders, or, “Marketplace” lenders, or “FinTech” lenders, or “Online” Lenders. Who knows what to call whom? That is takeaway number one from my experience at LEND360 small business…