Coleman Report
Fraud Friday — James Ladio Gets Two Years
November 28, 2014 By Bob Coleman Editor, Coleman Report As we profiled in Mug Shot Monday, a disgraced Deleware community bank CEO would soon find out how much time he would be residing at his new federal pen digs. Special Inspector General Christy Romero announces, “Ladio, former president and chief executive officer of MidCoast Community…
Read MoreMain Street Wednesday – SBA 7(a) Prepays Fall Back Below 8%
November 26, 2014 By Bob Judge Editor, CPR Report In September, prepays fell back below 8% for the fourth time this year, decreasing by 2% from August. As to the cause, we saw an increase in defaults that were more than offset by a decrease in voluntary prepayments. Defaults, which rose by 37%, remained below…
Read MoreSBA Hot Topic Tuesday — #DineSmall on Small Business Saturday Night
November 25, 2014 by Maria Contreras-Sweet, SBA Administrator November 29th is Small Business Saturday – a day circled on the calendar of savvy entrepreneurs across America. Small businesses are the engine of our economy and create two out of three new jobs. Seven in 10 Americans are now aware that the day after Black Friday…
Read MoreMug Shot Monday – Community Bank CEO Blames Personal Financial Woes for Fraud Plea
November 24, 2014 By Bob Coleman Editor, Coleman Report Reports Maureen Milford, The News Journal, “The once-respected Wilmington Trust Co. said his criminal acts resulted from a reckless attempt to “find a way out” of “desperate financial circumstances.” “Faced with mounting professional and personal issues, I made decisions that have, and will, impact me for…
Read MoreFraud Friday — SBA Borrower gets 6 ½ Years for Loan Fraud
November 21, 2014 By Bob Coleman Editor, Coleman Report Southern California SBA loan borrower Donald Goff string of fraudulent gasoline station financing schemes has netted him 6 ½ years in prison. In July, Donald Goff pled guilty to three felony counts—mail fraud, wire fraud and bank fraud—for leading a group of conspirators in a series…
Read MoreColeman Thursday’s Movers and Shakers
November 20, 2014 By Bob Coleman Editor, Coleman Report NAGGL Names Kristen Granchelli As Vice President Of Government Affairs And Public Policy “Kristen’s extensive experience on Capitol Hill will help steer NAGGL’s government engagement and we are pleased she is joining us,” says NAGGL President and CEO Tony Wilkinson. “I am confident her expertise will…
Read MoreMain Street Wednesday — Future Trends for the U.S. Restaurant Industry
November 19, 2014 By Bob Coleman Editor, Coleman Report CIT’s restaurant financing expert Bob Bielinski says the fast casual segment remains the top performer in the restaurant sector, and will continue to lead activity and change. The segment, typified by the likes of Chipotle, Noodles & Company and Zoe’s Kitchen, is providing offerings that are…
Read MoreSBA Hot Topic Tuesday – 21 More Corporations Promise Faster Payments to Main Street
November 18, 2014 By Bob Coleman Editor, Coleman Report Says SBA Administrator Contreras-Sweet, “As the advocate for our nation’s entrepreneurs, I know that supply chain growth is a priority as I work to improve resources for our nation’s economic engines – small businesses. That is why today I am proud to join with the White…
Read MoreMug Shot Monday – Bank Prez Approved Loans to His Own Company
November 17, 2014 By Bob Coleman Editor, Coleman Report That he used to buy real estate from Bank of America in short sales. “(Michael) Davis stands charged in a purported scheme that caused Premier Community Bank, TARP recipient Bank of America, and Beach Community Bank to suffer losses,” says Christy Romero, SIGTARP. “SIGTARP and our…
Read MoreSmall Business Capital’s Mark Feathers Indicted on 29 Counts of Fraud
November 14, 2014 By Bob Coleman Editor, Coleman Report Two and a half years after the SEC seized non-bank SBA lender Small Business Capital, the other shoe has dropped with a 29 count federal indictment filed against Mark Feathers. According to the indictment Feathers is named as the sole defendant in all counts, including 17…
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