Coleman Report

December 30, 2024 Delaney SextonContributing Editor FDIC Says Small Business Lending Falls By 9% The FDIC’s CRA December 2024 report reveals that small business loans of less than $100,000 decreased by almost 9%. Small rural farm loans experienced a similar decline. The number of loan originations fell by 5.6%, while the dollar amount dropped by…

December 30, 2024 Delaney SextonContributing Editor SBA Will Allow Brokers Access to the Settlement Express Application Programming Interface Beginning December 26, 2024, Secondary Market participants with a broker dealer CAFS role can request access to Settlement Express API in SBA catweb2 testing environment. This enhanced functionality will enable quicker, more efficient communication with SBA systems,…

December 27, 2024 Delaney SextonContributing Editor Bank General Counsel Admitted to Embezzling $7.4 Million From Banks – Fraud Friday After a decade-long embezzlement scheme, James Blose decided to waive his right to be indicted and pled guilty to fraud. From 2013 to January 2022, James Blose served as General Counsel and held high-ranking positions at…

December 26, 2024 Delaney SextonContributing Editor American Momentum Bank Welcomes Nafis Nasim to their SBA Division as VP, BDO “Nafis has more than 10 years of SBA lending experience and is well-versed on the requirements of the small business administration,” says Patrick Fenech, senior vice president and managing director of SBA lending for American Momentum…

December 26, 2024 Delaney SextonContributing Editor Paula Gambino Joins Peapack-Gladstone Bank as SVP, Head of SBA Based in the Bank’s Headquarters in Bedminster, New Jersey, Paula plays a key role in expanding the Bank’s SBA business, dedicated to delivering exceptional, personalized service to both new and existing business clients. With over 25 years of experience…

December 24, 2024 Delaney SextonContributing Editor Four New SBLC Licenses Were Authorized to Support Underserved Communities “For the second time in over 40 years, the Biden-Harris SBA welcomes new lenders with a shared mission of filling capital gaps in underserved communities – the very same communities who are starting businesses at the highest rates in…

December 23, 2024 Delaney SextonContributing Editor Small Businesses Are Positive About Future Business Operations in 2025 “The growing optimism among small business owners since the beginning of the year is a positive sign as we move into 2025 and potentially points to increasing opportunities in the new year,” says Bradd Chignoli, executive vice president and…

December 20, 2024 Delaney SextonContributing Editor Former Bank SVP Sentenced to 16 Months After His Scheme Cost the Bank $1 Million – Fraud Friday From 2013 to 2019, John Padilla served as a senior vice president and commercial loan officer at a BancFirst location in Oklahoma. During his time at the bank, he recruited other…

December 19, 2024 Delaney SextonContributing Editor Lenders Cooperative and Ventures Lending Technologies Announce Merger Lenders Cooperative and Ventures Lending Technologies announced their intent to merge, creating an entity that will deliver best-in-class commercial loan origination and integrated commercial loan servicing capabilities to a wide range of financial institutions. This merger will combine what had been two separate processes…

December 19, 2024 Delaney SextonContributing Editor American Business Bank Announces New Loan Production Office in San Diego, CA “While serving the best clients in Southern California, we knew San Diego was an inevitable and strategic location,” says Leon Blankstein, CEO of ABB. “Our team of highly talented bankers have experience serving the San Diego market…