Coleman Movers and Shakers Thursday

February 11, 2016

By Bob Coleman
Editor, Coleman’s Movers and Shakers

Coleman Movers and Shakers Thursday

Western Pennsylvania Event Scheduled for May 23 & 24

Writes Dave Miller, “After 20 consecutive years of Quality Circle at Seven Springs Mountain Resort in March, our Western Pennsylvania Association of SBA Guaranteed Lenders board has decided to shake things up this year, and make a number of changes to our annual small business lending conference and training event. Please see the attached ‘Save the Date’ flyer for this year’s conference which will be held on Monday and Tuesday, May 23rd and 24th at Nemacolin Woodlands Resort in Farmington, PA www.nemacolin.com. More details will be forthcoming but please put this on your calendars now and check the WPASGL website at www.wpasgl.org for updates shortly.”

California Bank of Commerce Gets PLP

“We are delighted to receive this designation after forming our SBA division three months ago,” says Chris Morin, EVP and South Bay President for California Bank of Commerce. “It is a testament to the experience and knowledge of our SBA Lending Division.”

“California Bank of Commerce is pleased and honored to be named an SBA Preferred Lender,” says Winston Bandong Sr., Senior Vice President and Manager of the Bank’s SBA Lending Division.

The SBA Lending Division is located in Fremont and is building a team of SBA lenders to service a broad geographic territory.

“Earning this designation and building our SBA division reflects California Bank of Commerce’s dedication to helping the entire business community, financing growth from young to mature companies throughout our communities,”

Live Oak Bank Launches eLending Initiative

“eLending uses Live Oak Portal technology to eliminate paper and streamline the lending experience. Our loan amounts range from $75k to $350k, but more importantly the loan will be on terms that won’t eat through the business’ cash flow,” says Neil Underwood, President, Live Oak Bank.

“We plan to compete with bank and non-bank lenders with a completely transparent lending experience. Customers can expect to get a loan decision within 48 hours of a completed application, with a dedicated eLender to work with along the way. As a bank, we have the advantage of a lower cost of funds than non-bank lenders, which we pass on to our customers giving them a lower monthly payment,” continues Underwood.

With Live Oak Portal, customers can upload all loan documentation, fill out online forms and electronically sign all documents. While Portal enables a streamlined, efficient process for borrowers, the credit decisions remain with the eLending team.

The eLending team is currently expanding to support the launch of multiple white-label lending programs with industry partners. Jason Lumpkin, a senior loan officer within Live Oak’s Emerging Markets division, has been tasked with leading the eLending team. Lumpkin joined Live Oak in 2011 and has served in multiple capacities within the company, from portfolio management and servicing to loan origination and new vertical business development.

“Jason has been instrumental in building out new verticals for Live Oak. He has a solid foundation for how Live Oak does business and will be able to help us scale so we can continue to support small business growth nationwide,” says Greg Thompson, COO, Live Oak Bank.

“Live Oak will continue to provide loans up to $5 million in vertical, and all customers can now take advantage of the technology-driven loan origination process. eLending allows us to provide small loan financing for less complex needs. The same Portal technology significantly improves the customer experience for our larger loans that are inherently more complicated,” says Thompson.

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Calendar

CDC Oversight Symposium, March 3-4, San Diego

2016 Southeastern Small Business Lenders Conference, March 6-8, Hilton Head

The Franchise Times Finance & Growth Conference, March 14-16, Las Vegas

NAGGL SBA Lending Technical Conference, May 2-4, St. Louis

NADCO Spring Summit, May 22-25, Arlington, VA

Western Pennsylvania, May 23-24, Nemacolin Woodlands Resort, PA

America East, August 24-26, Philadelphia

America’s SBDC, September 19-22, Orlando

FLAGGL 2016, September 21-23, Orlando

NAGGL Annual Meeting, October 31-November 2, Scottsdale

NADCO Annual Meeting, November 7-10, San Francisco