Coleman Report

March 30, 2015 By Bob Coleman Editor, Monday’s Movers and Shakers Midwest Regional Bank in Phoenix Welcomes SBA Banker Lori Abreu Midwest Regional Small Business Lending has added a new Banker to its team of SBA experts. Lori Abreu has joined Midwest Regional Bank as Vice-President, SBA Commercial Lender. Lori has more than 35 years…

By Bob Coleman Editor, Fraud Friday ‘On Monday, Brian Harrison, former vice president and loan officer at TARP recipient Farmers Bank was convicted of bank fraud for fraudulently concealing that the risky loans he had made were delinquent,’ says Christy Romero, Special Inspector General for TARP (SIGTARP). ‘During the financial crisis, thousands of bankers faced…

Just some quick notes from the community . . . . Bob Cowherd of CIT writes that if you Google the profile of our alleged perp on Mug Shot Monday who photoshopped a bank statement for $9 million, a Andre Chenier died in 1794 in the guillotine. Howard Levine chimes in, ‘Andre will have to…

By Bob Coleman Editor , Small Biz Lending Calendar From Lisa McGreevey, President & CEO of the Online Lenders Alliance: I would like to invite your readers to join the members of the Online Lenders Alliance at the OLA Spring Summit to be held April 28-29 in Washington, D.C. During the conference, we will have…

March 26, 2015 By Bob Coleman Editor, Online Small Business Lending Report I start with Kabbage — the online alternative lender that is on track to loan $1 billion to US and UK Main Street this year. Kabbage’s small business loans are short term working capital loans paid back in six months — usually less…

March 25, 2015 By Bob Coleman Editor, Main Street Wednesday It has been a while since I’ve done an international Main Street story, but it’s always informative to understand how other countries view small business’ access to capital. Take China for example. The government has lowered its economic growth target this year to 7 percent.…

March 25, 2015 By Bob Coleman Editor, Coleman C Suite Report If you have a restaurant borrower in Seattle, they will need to raise prices 6.7% next week in order to absorb the impact of the increase in the minimum wage. I am agnostic on the current dust up on whether Seattle restaurants are closing…

March 24, 2015 By Guest Columnist Steven Regan Reed Smith, LLP Steven Regan of Reed Smith is today’s guest columnist. He weighs in with our coverage and also confirms SBA 504 loans are exempt from being classified as High volatility CRE loans by the regulators. As discussed in a prior blog , Basel III regulations…

March 24, 2015 By Bob Coleman Editor, Small Business Stats Tuesday The majority of small business leaders (87%) are optimistic about the year ahead according to a recent Staples’ small business survey. Main Street is focused on results, with the top three small business goals in 2015: increasing revenue (76%), driving profits (70%) and gaining…

March 23, 2015 By Bob Coleman Editor, Mug Shot Monday $100 says the FBI. In 2004, a Andre Chenier applied for a $100,000 revolving line of credit loan from a Texas bank for his company called Teksync Inc. Two years later Andre requested to have the line increased to $2 million. As part of his…