Coleman Report
Coleman Thursday’s Movers and Shakers
October 2, 2014 By Bob Coleman Editor, Coleman Report Miguel Gonzalez Retires of SBA Houston District Director Read this nice interview of Miguel. Miguel tells the BizJournal, “We’re actually one of the bright spots in the country. Not only have we gotten 25 new lenders to sign up for our programs, but also five new…
Read MoreMain Street Wednesday – Franchise Loans Perform Better than Mom & Pop
October 1, 2014 By Bob Coleman Editor, Coleman Report I am speaking at the Boefly Franchise Lending Spotlight Conference today in Philadelphia. The event brings together lenders and franchisors. Some of the franchisors featured today are Hardee’s, Intercontintal Hotel Brands, Servicemaster, Meineke and Maaco. As you may know, I love stats, so here are some…
Read MoreSBA Hot Topic Tuesday – SOP 5010 (G) Effective Today
September 30, 2014 By Bob Coleman Editor, Coleman Report The majority of the changes became effective April 21, 2014. SBA has posted two versions of the SOP on the website. SBA SOP Notice 5000-1321: Issuance of SOP 50 10 5(G) – Lender and Development Company Loan Programs The first version highlights those areas that have…
Read MoreMug Shot Monday – Loan Broker Charged in $3 Million Advanced Fee Scheme
September 29, 2014 By Bob Coleman Editor, Coleman Report Over 20 small businesses were ripped off by a Connecticut loan broker alleges the feds. Todays perp, who already has spent 41 months in jail for bank fraud and money laundering, originally used the address of an abandoned building in Dayton Ohio to transact his business.…
Read MoreFraud Friday – FDIC Sues Former Bank of Commonwealth Officials
September 26, 2014 By Bob Coleman Editor, Coleman Report On the eve of the three year deadline to file, the FDIC filed an $11 million lawsuit against former Bank of Commonwealth executives for negligent banking practices. Says the Virginian-Pilot; “The FDIC has lost more than $300 million as a result of the bank’s failure. “The…
Read MoreColeman Thursday’s Movers and Shakers
September 25, 2014 By Bob Coleman Editor, Coleman Report U.S. Bank Names Beth Solomon Director of Global Corporate Trust Services Government Practice U.S. Bank has named Beth Solomon Director of the U.S. Bank Global Corporate Trust Services Government Practice based in Washington, D.C. Solomon was previously chief executive of the National Association of Development Companies,…
Read MoreMain Street Wednesday – Congress Fully Funds SBA Through September 30
September 24, 2014 By Bob Coleman Editor, Coleman Report No lending holiday is on the horizon this year as Congress has bumped SBA 7(a) funding levels to a record $18.5 billion for the balance of FY 2014 and for FY 2015. Our friend Kent Hoover writes, “As of Sept. 5, more than $17.3 billion in…
Read MoreCPR Report: The Greatest Secondary Market Chart Ever
September 23, 2014 By Bob Judge Editor, CPR Report The geeks among you are going to love this chart. Over the past few months, we are always being asked the biggest question in the secondary market: What will happen when rates rise? While we don’t have a crystal ball, looking into the past would seem…
Read MoreMug Shot Monday – Why Let the Facts Get in the Way of a Good Loan Application?
September 22, 2014 By Bob Coleman Editor, Coleman Report Thought Selim Zherka says the feds. According to his Indictment, from November 2005 through 2008, Zherka obtained loans totaling more than $146 million in loans from three banks – North Fork Bank (now Capital One), Sovereign Bank (now Santander), and Signature Bank – for the purchase…
Read MoreFraud Friday – Community Banker gets Five Years for Loan Fraud
September 19, 2014 By Bob Coleman Editor, Coleman Reporot He started out as an intern for the 109 year-old First State Bank, and rose to the level of vice president of commercial lending. 34 year-old Jackie Cantley remained in the West Virginia community he grew up in, got a BA at Marshall University and then…
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