Coleman Report

June 11, 2024 Delaney SextonContributing Editor SBA 7(a) Lending Stats By Gender For fiscal year 2024, these are the lending statistics by gender as of June 9, 2024:

June 11, 2024 Delaney SextonContributing Editor Heritage Bank and Venturus Announce Joint Venture “Venturus has built an innovative, elevated SBA lending experience for entrepreneurs that combines white glove service, expertise and efficiency,” says H. David Wallace, Heritage Bank Chairman and CEO. “The result is an SBA 7a loan application process simpler for the customer and…

June 10, 2024 Delaney SextonContributing Editor Nationally Recognized Team Joins Truliant’s SBA Lending Program Truliant Federal Credit Union announced today a major expansion of its Small Business Administration lending program. Truliant is adding a nationally recognized team of business development officers. The team is headed by Ray Drew, a top-producing SBA 7(a) lender who has…

June 10, 2024 Delaney SextonContributing Editor SBA 7(a) Lending Stats By Race For fiscal year 2024, these are the lending statistics by race as of June 9, 2024:

June 7, 2024 Delaney SextonContributing Editor Broward County Sherriff’s Former Deputy Gets 7 Months for $31K PPP Fraud The 17 Broward Sheriff’s Office employees who were criminally charged for committing PPP fraud have all gone to trial or accepted a plea deal as of this week. Here are the recent updates on the Broward Sheriff’s…

June 6, 2024 Delaney SextonContributing Editor SBA Published the Updated Criminal Justice Rule SBA has published Procedural Notice 5000-857477 implementing the recent Criminal Justice Rule. On April 30, 2024, SBA published the “Criminal Justice Reviews for the SBA Business Loan Programs, Disaster Loan Programs, and Surety Bond Guaranty Program” Final Rule (Rule), 89 FR 34094, which was effective May…

June 6, 2024 Delaney SextonContributing Editor 7(a) Loan Approvals – NAICS 56 So far in fiscal year 2024, SBA has approved 44,878 7(a) loans totaling over $18.9 million. The Administrative and Support and Waste Management and Remediation Services sector makes up roughly 5% of all 7(a) loans and dollar amounts. Here are the 7(a) statistics…

June 5, 2024 Delaney SextonContributing Editor New Business Applications are Above Pre-Pandemic Levels After a spike in new business openings occurred at the start of the pandemic, the high rate of new business applications has endured. For example, the number of business applications received in April 2024 is greater than any year from 2004 to…

June 5, 2024 Delaney SextonContributing Editor Accommodation and Food Services – 7(a) Loan Approvals So far, SBA has approved 44,590 7(a) loans totaling over $18.8 million. These are the 7(a) approvals for the Accommodation and Food Service industry. As of June 4, 2024: