Coleman Report
Main Street Monday — Will Online Small Biz Lenders be able to Disrupt the Marketplace after the Regulators Weigh in?
July 20, 2015 By Bob Coleman Editor, Main Street Monday I’m in New York today to find out. And, given the miserable 90 degree, 60% humidity weather here, I better get some answers for my efforts. This is the second year of the AltLend Summit — an event for innovative, marketplace online small b usiness…
Read MoreColeman’s Movers & Shakers and Small Biz Calendar
July 17, 2015 By Bob Coleman Editor, Movers and Shakers Kenny Patel Named Vice President and CPA of Thomas Financial Group “Due to the complexity and size of our loan projects, $5MM-$20MM, we are thrilled to have a confident, young CPA like Kenny joining our staff,” says Chairman Mike Thomas Atlanta-based Thomas Financial Group is…
Read MoreFraud Friday — SIGTARP Files False Claims Act Clawback from the Grave
July 17, 2015 By Bob Coleman Editor, Fraud Friday In the same week former Attorney General Eric Holder told the Financial Times that record fines on banks were a better solution than “trying to make examples out of people,” TARP’s Special Inspector General continues to indict community bankers from failed institutions from the Great Recession.…
Read MoreA Vocal Few Say No to the Proposed SBA Disaster Guaranteed Loan Program
July 16, 2015 By Bob Coleman Editor, Coleman Report I only got eight votes on my lender survey about the proposed Immediate Disaster Assistance Programs, which right there speaks volumes about the tremendous industry lack of enthusiasm. (By contrast, 247 weighed in on the poll about 100% SBA 7(a) financing.) The proposed program would allow…
Read MoreStart Making Your SBA Lending Holiday Plans in August?
July 15, 2015 By Tom Wallace Contributing Editor Later this Fiscal Year, quite likely sometime in August, the 7(a) Program will come up against “Authorized Program Level”. What does that mean for SBA lending? Budgets in politics are not exactly the same as in finance, and for better or worse, we are a political program,…
Read MoreColeman C-Suite Small Business Lending Report — SBLC, CFBP and IDAP
By Bob Coleman Editor, C-Suite Three stories in today’s alphabet soup edition! ********************************* First, Small Business Capital’s SBLC license is back on the market after BusinessUS’ purchase was nixed by SBA. The Receiver has announced the deadline for the new round of bids is July 27th. ************************************* Robert Villarreal of CDC Small BUsiness Finance disagrees…
Read MoreWould your Institution Embrace an SBA Loan Program that Funded $25,000 Bridge Disaster Loans with a 85% Guaranty?
July 14, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA doesn’t think you would. Congress appropriated $3 million for the Immediate Disaster Assistance Program pilot program back in 2010. But, a scathing GAO report says SBA hasn’t implemented the program five years later for two reasons — technology issues and perceived lender’s reluctance…
Read MoreMain Street Monday — Reg B Coming to Small Business Lending
July 13, 2015 By Bob Coleman Editor, Main Street Monday Friday night I had the pleasure of speaking to VEDC’s Board of Directors and staff at their annual Board retreat about the state of the small business lending industry. VEDC, formally Valley Economic Development in SoCal’s San Fernando Valley, is a nationwide CDFI with offices…
Read MoreFraud Friday — SBA Equity Injection Docs Selling on Craigslist for $95
July 10, 2015 By Bob Coleman Editor, Fraud Friday Next time you verify equity injection from a paper bank statement, be careful. You can buy a bank statement on Craig’s List from a variety of vendors for $95. Or, need a pay stub — only $35. And that includes verification, however that works! A social…
Read MoreHow Rising Interest Rates Affect the SBA Secondary Market
July 8, 2015 By Bob Coleman Editor, Coleman Report Bob Judge is the recognized national expert in the valuation of SBA-related assets and the SBA Secondary Market. Bob Coleman: How do rising interest rates affect premiums? Bob Judge: Basically, rising rates will push borrowers who have floating rate loans into trying to refinancing for fixed…
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