Coleman Report
Faulty Lender Cash Flow Analysis a Target for SBA 7(a) Loan Guaranty Denials
May 25, 2015 By Bob Coleman Editor, Coleman’s SBA Inspector General Report Coleman’s SBA Inspector General Report Good bye to SBA Stats Tuesday and hello to Coleman’s weekly SBA Inspector General Report. A new weekly column every Tuesday morning devoted to the SBA OIG. For the next couple of reports I am focusing on the…
Read MoreFraud Friday — Borrower Overstates AR on Balance Sheet, Rips off Bank $800k
May 22, 2015 By Bob Coleman Editor, Fraud Friday ‘Steven Moorhouse lied to TARP recipient Old Second National Bank in order obtain more than $1 million in loans for his business, and for his criminal lie, Moorhouse will spend the next 21 months in federal prison,’ says Christy Romero, Special Inspector General for TARP (SIGTARP).…
Read MoreFeedback Friday — SBA Form 159 Signed at Initial Disbursement is Compliant for your Review
May 22, 2015 By Bob Coleman Editor, Feedback Friday A Feedback Friday question to Coleman faculty instructor, Lance Sexton: The Bank is paying a referral fee to the broker but the broker has not signed the 159 compensation form. Do we need this document prior to closing and funding? The broker fee will be paid…
Read MoreColeman Small Business Lending Calendar — Mid America Lender’s Conference 2015
May 21, 2015 By Bob Coleman Editor, Small Business Lending Calendar The 21st Annual Mid-America Lender’s Conference will be held at the Sheraton Dallas Hotel. The Conference will kick off Monday, August 31 at 11:30 with a general session followed by several breakout sessions and then a reception that evening. The specifics are being finalized…
Read MoreColeman C-Suite Small Business Lending Report — Online Small Biz Lenders Float Self-Regulation Proposals
May 21, 2015 by Lisa McGreevy Conference Chair, Lend360 Last week, the American Banker had an extensive story on the possible regulatory headwinds coming to the “alternative” lending space. This article follows on the several others that the American Banker has been writing of late. This is just one more example of what is growing…
Read MoreColeman’s Movers and Shakers
May 20, 2015 By Bob Coleman Editor, Coleman’s Movers and Shakers Maine the base of the newest SBA 7(a) nonbank lender CEI 7(a) Financing LLC (C7a), a wholly-owned subsidiary of Maine-based Coastal Enterprises Inc., has acquired one of the 14 SBA SBLC licenses and is now a direct SBA 7(a) lender. ‘As one of the…
Read MoreSBA Hot Topic Tuesday — Reduction of On Site Reviews
May 19, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday Reduction of on site reviews is what SBA lenders can expect more of says Lance Sexton, former SBA Deputy Director of the Little Rock Commercial Loan Servicing Center. The new SOP 50 10 5(H) changes in SBA monitoring and reviews include the following: SBA…
Read MoreSmall Business Lending Stats Tuesday — 11 Barriers for Main Street Innovation
May 19, 2015 By Bob Coleman Editor, Small Business Lending Stats Tuesday The 11 barriers that exist across the innovation process timeline include: Student debt: The amount of student debt held by graduating students prevents them from pursuing entrepreneurial opportunities. Increased R&D: The amount of funding and support of research and development in the United…
Read MoreMug Shot Monday — Bookkeeper Gets 41 Months, Owner Gets 21 Months for Photoshopped Invoice Scam
May 18, 2015 By Bob Coleman Editor, Mug Shot Monday By Bob Coleman Editor, Mug Shot Monday Shorts Electric provided oilfield and residential electric services in the West Texas oil patch of Odessa, Texas The ‘Friendly West Texas’ Commercial State Bank structured a working capital line for the company and advanced funds based on their…
Read MoreMain Street Monday — Seven years after the ‘Great Recession,’ only 1 in 5 small business owners say they have completely recovered
May 18, 2015 By Bob Coleman Editor, Main Street Monday Says Bank of America in its Spring Small Business Owner Report Small business owners are still working their way toward a full recovery from the ‘Great Recession,’ with only 21 percent reporting a complete recovery and 41 percent saying they have somewhat recovered. Larger-revenue small…
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