Coleman Report
Mom and Daughter Sentenced to a Combined 5.5 Years for $1.7 Million EIDL Fraud – Fraud Friday
May 10, 2024 Delaney SextonContributing Editor Mom and Daughter Sentenced to a Combined 5.5 Years for $1.7 Million EIDL Fraud – Fraud Friday Andrea Ayers was a former Code Enforcement Officer for the City of Mount Vernon Police Department, and she is the mother of Alicia Ayers. After carrying out an EIDL fraud scheme, both…
Read More64% of Small Business Owners Will Apply for Financing in the Next 12 Months Says TD Bank
May 9, 2024 Delaney SextonContributing Editor 64% of Small Business Owners Will Apply for Financing in the Next 12 Months Says TD Bank “One of the most important relationships business owners can develop is with their bank,” Amy Dinkar-Patel, Head of Small Business & Commercial Distribution, notes. “The right customer-banking relationship fosters trust, unlocks tailored…
Read MoreOregon Small Businesses: Five Fast Facts
May 9, 2024 Delaney SextonContributing Editor Oregon Small Businesses: Five Fast Facts Source:SBA Office of Advocacy 2023 Oregon Small Business Profile
Read MoreSpotting Borrower Fraud and Reporting to SBA’s OIG, as Required by Law – A Coleman Webinar 6/20
SBA Lender Loan Fraud Reporting Obligations A Coleman WebinarDate & Time: Thursday, June 20, 2024 at 2:00 p.m. Eastern(Includes Recording & E-Certification) SBA use of the word “must” is a requirement. Not a suggestion. Says SBA in SOP 5057 3 , “All SBA officials, Lenders, Borrowers contractors and others must report any known or suspected…
Read MoreBanks Continued to Tighten Credit Standards and Terms in the First Quarter
May 8, 2024 Delaney SextonContributing Editor Banks Continued to Tighten Credit Standards and Terms in the First Quarter The April 2024 Senior Loan Officer Opinion Survey released this week found that banks tended to have tighter standards and weaker demand for commercial and industrial (C&I) loans to businesses of all sizes in the first quarter.…
Read MoreOklahoma Small Businesses: Five Fast Facts
May 8, 2024 Delaney SextonContributing Editor Oklahoma Small Businesses: Five Fast Facts Source:SBA Office of Advocacy 2023 Oklahoma Small Business Profile
Read MoreColeman’s Certified SBA Loan Broker Training
Coleman’s Certified SBA Loan Broker Training – Updated Effective May 1, 2024 Check out a clip from the course, where Bob Coleman interviews Chris Hurn, Founder and CEO of Fountainhead: Courses Have Started! The SBA loan broker is a key player in matching Main Street borrowers with SBA 7(a) and 504 lenders. However, SBA is…
Read MoreAlmost $20 Billion is Approved in FY24 Under 7(a) and 504 Loan Programs
May 7, 2024 Delaney SextonContributing Editor Almost $20 Billion is Approved in FY24 Under 7(a) and 504 Loan Programs So far in fiscal year 2024, the number of approved 7(a) loans is 38,658. Small dollar loans make up a majority of approved loans since 56.2% of 7(a) loans are $150,000 or less. Almost $16.2 billion…
Read MoreOhio Small Businesses: Five Fast Facts
May 7, 2024 Delaney SextonContributing Editor Ohio Small Businesses: Five Fast Facts Source:SBA Office of Advocacy 2023 Ohio Small Business Profile
Read MoreHotels See Declines in Occupancy and Revenue Per Available Room
May 6, 2024 Delaney SextonContributing Editor Hotels See Declines in Occupancy and Revenue Per Available Room In March, hotels saw some declines, particularly in occupancy and revenue per available room (RevPAR): Looking at more recent data, RevPAR fell during the last week of April after three positive weeks. From April 21 to April 27, RevPAR…
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