Coleman Report
What are the Lender’s Responsibilities after a Charged-Off Loan is Referred to Treasury?
June 30, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday Coleman faculty instructor Lance Sexton was posed this question last week during his office hour session from his Coleman Certified Liquidation online Training. We have issued the final wrap-up report on a liquidated loan and SBA has referred the loan to Treasury. We have…
Read MoreWhat Keeps You Up at Night?
June 30, 2015 By Bob Coleman Editor, Coleman Report What Keeps You Up at Night? Lately, this phrase seems to be one of the latest buzzwords for executive planning excellence. So, keep this to industry topics please!, tell me what keeps you up at night about your job as a small business lending professional. The…
Read MoreMug Shot Monday — Community Bank CEO, CFO Arrested for Hiding Bad Loans from FDIC
June 29, 2015 By Bob Coleman Editor, Mug Shot Monday Oregon-based Bank of Oswego former CEO Dan Heine and his former CFO Diana Yates were arrested Friday on 27 counts of bank fraud. The indictment alleges the two conspired to bring $1.3 million delinquent loans current, thus hiding a number of bad loans from the…
Read MoreMain Street Monday — Mickey Mouse Chooses SBA 7(a)’s Loan Program over 504
June 29, 2015 By Bob Coleman Editor, Main Street Monday A Coleman Report lighthearted edition. I thought this is worth a chuckle. Thanks to Brian McClendon of Pacific Commerce Bank for the pic in the Disneyland parking garage, Level 7, Row A!
Read MoreFraud Friday — Small Business Lenders must be Consultants While Lending
June 26, 2015 By Bob Coleman Editor, fraud Friday A true story. A fellow publisher friend of mine who is successful in another publishing niche — advising college administrators how to handle microaggressions and sexual assault issues, changed his payroll processing company from ADP to a start-up payroll company in his hometown. They promised the…
Read MoreSBA 7(a) Loan Servicer Compensation is, Well, Depends on Experience.
June 26, 2015 By Bob Coleman Editor, Coleman Report Yesterday I comfortably reported the average SBA 7(a) loan closer compensation is around $50,000. Today, I don’t feel that righteous. The small sample clearly shows the market pays for experience. So, to force me to commit to a number, I’m calling it $35,000 for junior level…
Read MoreFLAGGL 2015 Announces Breakout & General Session Topics
June 25, 2015 By Bob Coleman Editor, Small Business Lending Events Calendar This year’s fourth annual FLAGGL conference will be held September 16th-18th, 2015 at the Gaylord Palms Resort in Kissimmee, Florida. Check out the Breakout & General Session Topics Capital Access: Top brass from the SBA will discuss the Agency’s latest regulatory environment, policy…
Read MoreSBA 7(a) Loan Closer Compensation is $50K Per Year
June 25, 2015 By Bob Coleman Editor, Coleman Report Several weeks ago, I asked for industry feedback about compensation for SBA 7(a) loan packagers, closers and servicers. I stated I had difficulty in the past arriving at an industry standard due to responses being all over the board. The job description of the SBA 7(a)…
Read MoreColeman’s Movers & Shakers
June 24, 2015 By Bob Coleman Editor, Coleman’s Movers & Shakers Paragon Appoints Kerri Morrin Chief Operating Officer of Small Business Capital Group “Kerri’s leadership and extensive background in SBA operations make her a valuable asset to the team,” says Robert Shaw, Chief Executive Officer at Paragon Bank. “In addition to her experience, Kerri demonstrates…
Read MoreReadyCap Securitizes $115 Million of SBA 7(a) Unguaranteed Loans
by Bob Coleman Editor, C-Suite Small Business Lending ReadyCap Lending has completed the securitization and sale of $115 million of the unguaranteed interest of SBA 7(a) small business loans — the first securitization since the recession. The loans were originated by CIT Small Business Lending Capital. ReadyCap acquired the loan portfolio when they purchased the…
Read More