October 17, 2013
By Bob Coleman
Editor, Coleman Report
Seacoast Commerce Bank Surpasses $500 Million in SBA Loan Fundings
Seacoast Commerce Bank has surpassed $500 million in SBA loan funding since the inception of its SBA lending department four years ago.
David Bartram, Chief Operating Officer and SBA Division Manager commented, “We launched the SBA division in late 2009 with the intent of providing loans to small business owners to purchase, build, or refinance real estate for their businesses. Since that time, we have been successful at growing our operation from a small office in San Diego to offices throughout the Western United States, and just surpassed $500 million in loans funded.”
Business Loan Capital, a non-bank direct lender, announces a new Nationwide SBA 504 loan program. This program is designed to broaden main street’s access to common sense capital. 1st TD Loan Amounts up to $8 Million. Rates from 6%.
Small Business Capital’s Mark Feathers is appealing the federal court’s summary judgment against his company by the SEC
Writes Feathers, “Prior to this lawsuit, the defendants were in good standing with all of their state and federal regulatory agencies. This was a surprise injunction and receivership placed onto the defendants in June of 2012. As will be demonstrated herein, this appeal will demonstrate that this lawsuit was rigged from the beginning by SEC’s causing of an unconstitutional seizure of the defendant’s assets, which was allowed or assisted in part or in whole by the bias caused by SEC’s employment of the word “Ponzi” and its affects thereafter, and by SEC’s knowing employment of false and fraudulent financial illustrations in its complaint.”
Small Business Lending Conference Update
NADCO Western Tri-Regional Conference, Sedona October 21-23
American Banker Small Business Lending Conference, New Orleans, Oct 28-30
NADCO Region 1-7 Conference, Clearwater, FL, Oct 31-Nov 2
NAGGL Annual Conference, Palm Desert, Nov 5-7
Restaurant Finance & Development Conference November 4-6
Alternative Investments & SBA/USDA Lending Seminar, Dallas, Nov 19-20
Where Main Street Meets Wall Street, 6th Annual SBA Secondary Market Forum, December 3, Washington D.C.
14th Annual Rural Lender’s Retreat, December 4, Washington D.C.
Coleman’s 3rd Annual Fresno SBA Loan Servicing Workshop, December 9, Fresno
Coleman’s 5th Annual Herndon SBA Guaranty Purchase Workshop, January 23, 2014, Herndon
Southeastern Small Business Lenders Conference, Reynolds Plantation, GA, Feb 9-11
Send your movers and shakers announcements with a pic to bob@colemanreport