Coleman Report
Small Business Credit Card Debt is Rising Says B of A
More small businesses appear to have been using credit cards as a source of financing this year, with an increasing portion of balances carrying interest as financial pressures build. The average Bank of America small business credit card balance rose throughout the year, but the degree of increase varies across business revenue tiers. For those…
Read MoreBancFirst is Oklahoma’s Top SBA 7(a) Lender in FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 BancFirst (OK) 82 $38,213,500 $466,018 2 Live Oak Banking Company (NC) 16 $19,130,000 $1,195,625 3 Newtek Small Business Finance, Inc. (NY) 7 $15,066,000 $2,152,286 4 Arvest Bank (AR) 37 $8,643,800 $233,616 5 Security Bank (OK) 13 $8,345,000 $641,923 6 Readycap Lending, LLC (NJ) 9 $7,688,500…
Read MoreAlternative Lenders Number One Source of Small Business Credit
Says Bank of American Institute in its December 2023 small business newsletter. With the rapid increase of interest rates and regional US bank failures earlier in the year, there has been a meaningful tightening of credit conditions. As shown by the Senior Loan Officer Opinion Survey (SLOOS), the net percentage of surveyed banks that were…
Read MoreThe Huntington National Bank #1 Ohio SBA 7(a) Lender — Complete State Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 The Huntington National Bank (OH) 2,341 $327,153,600 $139,750 2 First Commonwealth Bank (PA) 55 $49,709,900 $903,816 3 Live Oak Banking Company (NC) 41 $48,890,200 $1,192,444 4 KeyBank National Association (OH) 169 $41,430,600 $245,151 5 Fifth Third Bank (OH) 48 $26,993,000 $562,354 6 Home Loan Investment…
Read MoreSmall Business Loan Volume, Delinquencies, Defaults all Increasing Says Paynet
Equifax’ small business loan data company Paynet October report predicts a further deterioration of small business lending credit loan portfolios. SBLI — Small Business Lending Index Tracks the number of new loans and leasers that are issued to small businesses in the past 30 days SBDI — Small Business Delinquency Index Tracks commercial debt that…
Read MoreMain Street Monday Link – 12/18/2023
Microsoft Teams Link YouTube Link Host: Bob Coleman Co-Host: Lance Sexton Monday Guest: John Reosti, American Banker
Read MoreTD Bank Tops New York SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 TD Bank, National Association (DE) 1,080 $128,775,800 $119,237 2 Manufacturers and Traders Trust Company (NY) 727 $90,909,300 $125,047 3 FinWise Bank (UT) 63 $68,230,000 $1,083,016 4 Live Oak Banking Company (NC) 42 $58,236,600 $1,386,586 5 JPMorgan Chase Bank, National Association (OH) 279 $54,296,400 $194,611 6…
Read MoreFraud Friday – Cattle Farmer Pleads Guilty to USDA, SBA, & Bankruptcy Fraud
December 15, 2023 Delaney SextonContributing Editor Fraud Friday – Cattle Farmer Pleads Guilty to USDA, SBA, & Bankruptcy Fraud An Iowa custom cattle farmer pled guilty to one count of theft of livestock, one count of wire fraud, and one count of false bankruptcy declaration. These are the details of his numerous crimes: Michael Wayne…
Read MoreZions Bank, US Bank Top Nevada SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Zions Bank, A Division of (UT) 45 $23,192,100 $515,380 2 Enterprise Bank & Trust (MO) 12 $22,053,000 $1,837,750 3 City National Bank (CA) 8 $21,789,500 $2,723,688 4 America First FCU (UT) 15 $20,542,700 $1,369,513 5 Newtek Small Business Finance, Inc. (NY) 29 $19,496,500 $672,293 6…
Read MoreSBA Loan 504 Defaults and Prepayments At All-Time Lows
Government Loan Solutions’ Bob Judge has updated his SBA 504 prepayment chart that contains excellent historical data for you stat nerds. Dating back to 1988, the chart shows SBA 504 loan prepayments are at all-time loans. This includes defaults as well prepayments from refinancing or sale of the property. Chat codes: CPR = Prepayment Rate…
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