May 20, 2021
Coleman Movers & Shakers — Lance Sexton, Brad Abel, and SomerCor
Lance Sexton Joins Fountainhead Commercial Capital
“I am so excited to be part of one of the best and most knowledgeable SBA teams in the industry at Fountainhead Commercial Capital,” says Sexton. “I have admired and respected Fountainhead’s commitment to the small business community across the United States.”
Lance Sexton has over 30 years of experience in originating, servicing, and liquidating SBA Loans. Prior to joining Fountainhead, Sexton served as Deputy Director of the SBA Little Rock Commercial Loan Servicing Center, Senior Vice President of Commercial Lending at Legacy National Bank, and most recently, Executive Vice President of Regional Government Guaranteed Lending at Bank OZK. At Fountainhead, Sexton will oversee the collection of interest and principal payments as well as liquidation of assets for small business loans as Executive Vice President of Servicing and Liquidation.
In addition to his work with Fountainhead, Sexton will continue to provide SBA industry training as a Coleman facility instructor and provide SBA lending news and updates on the Coleman Report Live daily show.
SomerCor Awarded SBA Accredited Lender Program (ALP) Status
Last week, SomerCor, a Chicago-based Certified Development Company (CDC), announced that it had been awarded Accredited Lender Program (ALP) status by the SBA.
“Our ALP designation is a critical milestone for SomerCor and a reflection of the hard work and dedication of our skilled team,” says Manuel Flores, President and CEO of SomerCor. “Exceptional service and a positive customer journey are paramount. I am excited by the new ways we can better serve small businesses and our lending partners.”
With their ALP designation, SomerCor has been granted increased authority to process, close, and service SBA 504 loans. In addition, SomerCor will be able to participate in the new SBA 504 Express Loan program and will have the authority to approve, authorize, close, and service SBA 504 loans of $500,000 or less under program enhancements enacted through federal COVID-19 relief legislation.
Gulf Coast Small Business Lending Welcomes Brad Abel
Brad Abel has joined Gulf Coast Small Business Lending as a Senior Vice President, Business Development Officer located in San Jose, CA.
“We are thrilled to have Brad join our Gulf Coast Small Business Lending team. His years of successful experience in the SBA industry will be an asset to both our borrowers and our team” says Nimi Natan, Division President & CEO. “Brad is already originating new business and we are excited about the positive impact we are confident he will deliver to the small business community. Brad is an ideal addition to our very experienced and knowledgeable team of SBA professionals. As with every new BDO hire, we look forward to combining Brad’s SBA experience with our exceptional product delivery as we continue to partner with small businesses across the United States.”
Brad Abel brings over 25 years of commercial and SBA lending experience to his new role at Gulf Coast Small Business Lending. In particular, Brad’s areas of specialty include commercial real estate financing (and construction), business acquisitions, partner buyouts, and franchise lending.