Coleman Report

“I am extremely grateful for my colleagues’ support for my legislation to implement a common sense requirement to protect the integrity of SBA lending programs,” says Chairman Roger Williams.  “No one who has been convicted of defrauding the pandemic lending programs should ever be given the opportunity to access future financial assistance programs.  “There’s much…

RANK Lender # Loans $ Amount Average Loan Size 1 Aspire Bank (ND) 5 $4,848,900 $969,780 2 Alerus Financial, National Association (ND) 4 $4,092,800 $1,023,200 3 Choice Financial Group (ND) 9 $3,263,000 $362,556 4 First International Bank & Trust (ND) 3 $3,011,200 $1,003,733 5 Bremer Bank, National Association (MN) 3 $1,900,900 $633,633 6 Home Loan…

This requires a change to the SOP that will take some time. So, before implementation SBA is offering waivers on a loan-by loan basis. From Ginger Rogers of SBA’s Office of Financial Assistance Linda and I will waive the lease requirement on a loan-by-loan basis. The SBA Lender’s email should provide enough information to identify…

RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 96 $126,244,000 $1,315,042 2 GBank (NV) 17 $51,976,200 $3,057,424 3 Pinnacle Bank (SC) 36 $32,516,200 $903,228 4 Bank of Oak Ridge (NC) 36 $30,815,900 $855,997 5 Dogwood State Bank (NC) 39 $29,185,500 $748,346 6 The Huntington National Bank (OH) 115…

The November 22nd alert says the IRS has identified ongoing fraud and scams related to the ERC that have resulted in 323 investigations involving more than $2.8 billion of potentially fraudulent ERC claims. These fraudulent claims have disrupted the IRS’s ERC claim review process and created a significant backlog and caused delays in the processing…

RANK Lender # Loans $ Amount Average Loan Size 1 The Yellowstone Bank (MT) 10 $6,125,600 $612,560 2 Readycap Lending, LLC (NJ) 6 $5,451,500 $908,583 3 Lendistry SBLC, LLC (CA) 2 $5,380,000 $2,690,000 4 Stone Bank (AR) 1 $4,842,000 $4,842,000 5 Hanover Community Bank (NY) 1 $3,335,000 $3,335,000 6 Enterprise Bank & Trust (MO) 1…

“We look forward to Matt joining the Milestone Bank SBA team,” says Guy Gibson, Executive Vice President.of Salt Lake City-based Milestone Bank. “His expertise and passion will undoubtedly take us to new heights, and we can’t wait to see what incredible milestones we’ll achieve together.” Matt says, “There is no greater feeling in the banking…

Here is the Microsoft Teams Invite for today’s Show at 1 pm Eastern You may also access out Youtube Live Stream at 1 pm Eastern Guests: John Reosti, American Banker Lance Sexton, Fountainhead Commercial Capital