Coleman Report
Fraud Friday — Fraud Charges Against More Wilmington Trust Officers
May 8, 2015 By Bob Coleman Editor, Fraud Friday Add the former Chief Credit Officer and Controller to the list of Wilmington Trust bank officers criminally charged in the Delaware bank’s failure. The feds allege that Kevyn Rakowski, and William North omitted approximately $351 million of matured loans 90 days or more past due from…
Read MoreFeedback Friday — SBA Life Insurance Documentation and Landlord waiver
May 8, 2015 By Bob Coleman Editor, Feedback Friday Two questions this week, both from Coleman Certified Training Students for Coleman Faculty Instructor Lance Sexton The first is to Coleman faculty instructor Lance Sexton from his Loan Closing Training. Hi Lance – I do have one other question regarding Life Insurance. We obtain the Policy,…
Read MoreColeman Small Business Lending Calendar — Florida Lender’s SBA Conference Early Bird Expires in One Week
May 7, 2015 By Bob Coleman Editor, Small Business Lending Calendar Only ONE Week Left to receive Early Bird rates FLAGGL 2015 SEPTEMBER 16-18 Early Bird registration expires in ONE WEEK on May 15th Just $299 now until May 15th Price increases to $349 on May 16th Visit the FLAGGL Website for More Details NADCO…
Read MoreColeman Online Small Business Lending Report — SBA the New Alternative, Online Lender?
May 7, 2015 By Bob Coleman Editor, Coleman Online Small Business Lending Report I read daily of the disruption planned by online lenders such as newly minted public companies The Lending Club and OnDeck Capital, and a score of others waiting in the wings in the small business lending space. And now SBA is getting…
Read MoreColeman’s Movers and Shakers
May 6, 2015 By Bob Coleman Editor, Movers and Shakers Rachael Pokuta to Expand TMC Financing’s SoCal Footprint One of the nation’s leading Northern California-based CDCs is heading to Southern California’s Inland Empire. ‘We’re excited to have Rachael on board to cover the Inland Empire region,’ says TMC Executive Vice President Rich Grant. ‘Her energy,…
Read MoreColeman C-Suite Small Business Lending Report — Former Democratic Appointed SBA Administrator Mills Supports Conservatives
May 6, 2015 By Bob Coleman Editor, C-Suite Small Business Lending Report Across the pond. It’s been awhile since I’ve covered UK small business lending schemes, always loved that term. Schemes in the UK are code for government programs to solve a problem. I ran across this article from The Guardian where Karen Mills is…
Read MoreSBA Hot Topic Tuesday — The New SBA (7a) Debt Refinance Rules
May 5, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday The major change in the SBA SOP 5010 (H) released yesterday is debt refinance eligibility. In the new SOP, SBA has simplified the documentation for the applicant and the lender. Debt on the business balance sheet is eligible to be refinanced if it the…
Read MoreSmall Business Lending Stats Tuesday — Thomas USAF Announces its Sixth Fund: USAF 6, LP
May 5, 2015 By Mike Thomas Chairman of USAF Funds I am pleased to announce the formation of our sixth USAF fund USAF 6, LP! Starting with the creation of the interest only SBA strip and stripping, both Merrill Lynch and Bear Stearns SBA loan portfolio in 1987, USAF Funds have purchased and stripped over…
Read MoreColeman SBA News Flash — New SBA SOP 5010 5(H) Released Today
May 4, 2015 By Bob Coleman Editor, Coleman Report SBA released the latest version of SBA’s 5010 today. Note the SOP 5010 5 (H) is effective last Friday. However, since most of the changes are in the streamlining/lender friendly mode this should not negatively impact the vast majority of lenders. Just pay attention to the…
Read MoreMug Shot Monday — 3 ½ Years for Community Bank Special Asset VP
May 4, 2015 By Bob Coleman Editor, Mug Shot Monday After being convicted in January of bank fraud, Rusty Beamon learned today he will spend 3 ½ years in jail. Rusty Beamon was a vice president at Appalachian Community Bank in Georgia and was in charge of the bank’s foreclosed real estate assets. In 2009,…
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