Coleman Report
Coleman’s Monday Movers and Shakers
By Bob Coleman Editor, Monday Movers and Shakers Angela Burton Named SBA Lower Rio Grande Valley District Director I‘ll bring some economic development experience to the table, and I understand our market very well, says Angela. “We have a unique market.” Region VI Administrator Yolanda Garcia Olivarez, adds ’s expertise would be “highly instrumental in…
Read MoreFraud Friday — Stolen Valor and Bank Fraud
By Bob Coleman Editor, Fraud Friday Charles Bailey told Newburyport Five Cent Savings Bank he had served in the Marine Corps in Afghanistan and Iraq for nine years, receiving a Silver Star, a Purple Heart and a Combat Action Ribbon. He lied. He used counterfeit photoshopped military paperwork to convince the bank he was not…
Read MoreSBA is the Sweetheart of Capitol Hill
April 3, 2015 By Bob Coleman Editor, Coleman Report I recently interviewed Kent Hoover, Washington Bureau Chief, The Business Journals and he gave us a great update about what’s going on in Washington concerning the SBA and small business lending. Listen to my 8 minute interview here. Kent Hoover has been Washington bureau chief for…
Read MoreColeman Small Business Lending Calendar — Annual South Central Tennessee Conference Announced
A self serve continental breakfast will be available in the foyer beginning at 8:30 AM Central Time. Lunch will also be served and there will be lots of door prizes for attendees. Speakers will include: Dan Beasley, Tennessee Program Director, USDA Bob Fritzlan, Executive Advisor, FIAG Michelle Shadix,Government Guaranteed Desk of Raymond James Pam Crozier,…
Read MoreOnLine Small Business Lending Report — Small Business Feedback Solicited by CFPB Regarding Payday Lending
April 2, 2015 By Bob Coleman Editor, OnLine Small Business Lending Report One of the stories I am closing following the Consumer Financial Protection Bureau’s interest in with online small business lenders. We know the target consumer payday lenders have on their back from a variety of regulators. To date, regulators are largely ignoring alternative,…
Read MoreMain Street Wednesday — SBA 504 Has a New Secondary Market Player
Bob Coleman: “Hi we are talking with Chris Hurn, Founder & CEO of Fountainhead Commercial Capital. Chris those look like new offices.” Chris Hurn: “They are Bob” Bob Coleman: “FastTrack 504? What is FastTrack 504 and what are you going to accomplish in the marketplace?” Chris Hurn: “Well it’s our new secondary market program. We…
Read MoreColeman C-Suite Small Business Lending Report — Three Triggers for an SBA Inspector General Loan Review
‘We believe that preventing improper payments in the 7(a) guaranty purchase review process continues to be a challenge for the Agency,’ writes SBA’s Inspector General in a just released report. The OIG concludes $1.8 million in SBA guarantees previously paid to lenders on three loans now be denied and refunded to the federal government. ‘Improper…
Read MoreSBA Hot Topic Tuesday — SBA 7(a) Prepays Rise to 8%
by Bob Judge Editor, Coleman & GLS CPR Report In January, SBA 7(a) prepays rose back above 8% as we enter 2015. As to the cause, we witnessed a double-digit increase in voluntary prepayments, reaching a six-year high. Defaults rose by 7%, but remained below 2% for the 17th month in a row. Historically, this…
Read MoreSmall Business Lending Stats Tuesday — The Four Things that Keep Your Borrowers Up at Night
I end up reading a number of small business surveys and most are quite fascinating to those of us who care about the health and attitudes of Main Street. I ran across one article that said the four things that keep Main Street entrepreneurs up at night are: http://www.fastcompany.com/3044400/the-4-things-that-keep-small-business-owners-up-at-night 1) Growing Revenues 2) Hiring New…
Read MoreMug Shot Monday — Former Chief Credit Officer Found Guilty of Bank Fraud for Undervaluing Loan Loss Reserve
By Bob Coleman Editor, Mug Shot Monday The former Chief Credit Officer and Chief Operating Officer of failed Northern California, United Commercial Bank, was convicted of seven counts of bank fraud by a jury last week. Now, 66 year old Ebrahim Shabudin faces hundreds of years in jail , and millions of dollars in fines.…
Read More