Coleman Report
Main Street Monday — National Small Business Week Kicks Off Today
May 4, 2015 By Bob Coleman Editor, Main Street Monday The ‘Dream Big, Start Small’ tour may be coming to a city near you. Administrator Maria Contreras-Sweet will travel during the week to events in Miami, Los Angeles, San Antonio, New York and Washington, D.C. The lineup? Today — Miami (12:30 pm to 4:30 pm)…
Read MoreFraud Friday — Bank President, Commercial Loan Officer Indicted for Money Laundering
May 1, 2015 By Bob Coleman Editor, Fraud Friday The feds allege bankers at Plains State Bank in Plains, Kansas failed to report on the suspicious cash deposits of a small business, even as millions of dollars flowed through the couple’s account. In a 37-count indictment, the following defendants are charged: George Enns, 69, and…
Read MoreFeedback Friday — The SBA Loan Broker Discussion, Mark Feathers to Sue SBA and the SBLC List
May 1, 2015 By Bob Coleman Editor, Feedback Friday Several lenders said they were shocked about Pacific Mercantile Bank’s decision to end accepting SBA loans from loan brokers and laying off their 15-person SBA loan department. Two lenders said that was forcing them to rethink their strategy of accepting loan broker referrals for SBA loans.…
Read MoreColeman Small Business Lending Calendar — FLAGGL Announces Session Topics
April 30, 2015 By Bob Coleman Editor, Small Business Lending Calendar Don’t miss your opportunity to hear from some of the industry’s sharpest and most experienced professionals representing national, regional and community banks, credit unions and certified development companies. Not to mention the BEST networking opportunity in Florida for SBA lenders! Every hot topic will…
Read MoreColeman Online Small Business Lending Report — Lamenting the Online Small-Business Lending Bubble
April 30, 2015 Guest Post by Ami Kassar President & Founder MultiFunding Have you ever lied awake in the middle of the night as an entrepreneur and wondered…. Am I missing the boat and doing something wrong? That’s how I have felt lately as I’ve watched the emergence of the online small-business financing space. It…
Read MoreColeman’s Movers and Shakers
April 29, 2015 By Bob Coleman Editor, Movers and Shakers Gary Taylor Named President and COO of Newtek Barry Sloane, President, Chairman and Chief Executive Officer of Newtek Business Services Corp. says, “We are pleased to announce the addition of such a seasoned executive as Gary Taylor to our senior management team as President and…
Read MoreColeman C-Suite Small Business Lending Report — Pacific Mercantile Bank Exits SBA Lending
April 29, 2015 By Bob Coleman Editor, C-Suite Small Business Lending Report The Southern California-based lender approved 52 SBA 7(a) loans for $178 million last year. They won’t be approving many more. Rejecting the transactional nature of SBA loans, the bank fired 15 employees from their SBA department in March. Says President & CEO Steve…
Read MoreSBA Hot Topic Tuesday — East West Bank Named SBA 2015 Export Lender of the Year
April 28, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday ‘East West Bank is a proactive lender that has recognized the benefits of offering a spectrum of SBA export loan guarantees to meet the financing needs of small business exporters in multiple states. That is why it gives me great pleasure to recognize the…
Read MoreSBA Stats Tuesday — SBA 7(a) Prepays Fall Below 7%
April 28, 2015 By Bob Judge, Editor, The CPR Report In February, prepays drop back below 7% caused by a double digit decrease in both voluntary prepayments and defaults. Overall prepayments fell by 27% to 6.48%. Defaults remain below 2% for 18 months in a row. Looking at the largest sector, we saw the 20+year…
Read MoreMug Shot Monday — SBA Borrower Pleads Guilty for $1.7 Million Fraudulent (Photoshopped Docs) Biz Aq Loan
April 27, 2015 By Bob Coleman Editor, Mug Shot Monday In 2009, Stewart Harris applied for $1.7 million SBA loan to purchase a commercial glass company. To secure the loan, Harris submitted a loan application and purported tax returns in which he falsely represented the social security number of another individual. He also submitted photoshopped…
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