Coleman Report
The Silly Season & SBA Funding
June 23, 2015 By Tom Wallace Editor, SBA Hot Topic Tuesday When I woke up this morning, I was sure it was 2015, yet, there in front me, looming considerably larger than life, were the visages of two people: a Bush and a Clinton; each announcing their candidacy for the Presidency of the United States.…
Read MoreSBA Loan Broker Poll Comments — The Good, The Bad and The Ugly
June 23, 2015 By Bob Coleman Editor, Coleman Report The good loan broker comments outweigh the bad, but the bad and ugly comments are well, bad and ugly. Two issues were raised, which I will follow up at a later date. One lender was criticized on their PARRiS review for paying over a $30,000 fee…
Read MoreMug Shot Monday — Bookkeeper Gets 5 Years for Ripping Off $3 Million, Forcing Company BK
June 22, 2015 By Bob Coleman Editor, Mug Shot Monday One of the consistent fraud signs is being ripped off by long-term employees — both on the lending side, and the small business side. The long-term internal CPA, Irene Brooner helped herself to $2 million of company funds over 11 years, and forged loans docs…
Read MoreMain Street Monday — Credit Approval: Two Groups, One Goal
June 22, 2015 By Tom Wallace Coomentator, Main Street Monday The world press recently carried numerous stories of flooding in Tblisi, including photos of a group of men attempting to herd a hippopotamus back to the zoo. This struck me as a painful metaphor for the credit approval process at the worst. I am not…
Read MoreFraud Friday — Oklahoma Community Bank President Indicted on 15 Fraud Counts
June 19, 2015 By Bob Coleman Editor, Fraud Friday First State Bank of Altus’ Paul Doughty was charged with bank fraud six years after the failure of his family owned bank in 2009. As President and Chairman Doughty’s loan approval limit was capped at $500,000. The feds allege he and a partner were heavily invested…
Read MoreSBA 7(a) Lender Loan Broker Survey Results
By Bob Coleman Editor, Coleman Report The vast majority of the 70 takers from yesterday’s Coleman Report survey say they pay 1% to SBA 7(a) loan brokers for referrals. No one admitted to paying over 2%. And loan brokers are a significant source of SBA loans for a number of institutions. Here are the balance…
Read More22 Break-Out Sessions Announced for 2015 Mid-America Lender’s Conference
June 18, 2015 By Bob Coleman Editor, Small Business Lending Events Calendar The North Texas Association of Government Guaranteed Lenders (NTAGGL) is pleased to be hosting the 21st Annual Mid-America Lender’s Conference (MALC). MALC has grown to be one of the largest regional conferences for SBA hot topics, education, lending updates and networking for mid-America.…
Read MoreMarket Trends Thursday — SBA 7(a) lenders and loan brokers
June 18, 2015 By Bob Coleman Editor, Market Trends Thursday Humbled by the awesome response by the industry regarding the discussion of 100% financing for SBA 7(a) CRE loans, I thought I would turn to the industry’s take on loan brokers. Take the survey here Overall, are you satisfied with your experience with SBA 7(a)…
Read MoreColeman Movers & Shakers
June 17, 2015 By Bob Coleman Editor, Movers & Shakers David Green Joins American Business Lending as Executive Vice President “David will be a very valuable asset to ABL, bringing a wealth of knowledge of the small business industry and SBA”, says ABL CEO Charlie Bell. “His professionalism, knowledge and passion for SBA lending will…
Read MoreBrown is the New Competitor
June 17, 2015 by Bob Coleman Editor, C-Suite Small Business Lending I don’t know why UPS didn’t do this years ago — using their data to credit score small business loans. I have been a UPS customer for 20 years. Think about all the data they have on me. •Monthly shipping costs •Whether I pay…
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