May 22, 2014
By Bob Coleman
Editor, Coleman Report
Susan Streich Joins The Small Business Authority as Chief Risk and Compliance Officer
“Susan Streich, with over 30 years of experience in the SBA 7(a) small business lending space, augments the depth of our management team as well as brings us significant experience in lending compliance, policy and procedures. Susan has a tremendous background managing and operating small business lending operations and has an extensive background in credit as well. Susan will be based in Virginia, geographically giving us a good presence dealing with businesses and all government agencies,” say President and CEO Barry Sloane.
USDA Launches $150 Million Investment Initiative for Small Businesses in Rural America
“This new fund will allow innovative small businesses throughout rural America to access the capital they need to grow and create jobs,” says Ag Secretary Tom Vilsack. “One of USDA’s top priorities is to help reenergize the rural economy, and we now have a powerful new tool available to help achieve that goal. This new partnership will allow us to facilitate private investment in businesses working in bio-manufacturing, advanced energy production, local and regional food systems, improved farming technologies and other cutting-edge fields.”
The new fund is being formed under the USDA’s Rural Business Investment Program (RBIP). Advantage Capital Partners (the fund manager) and its partners from eight Farm Credit institutions have committed to invest $150 million into the initiative. The Farm Credit system (a network of banks and lending institutions) plays a key role in providing credit to farms and other businesses throughout the rural U.S.
Are Innovative Lenders a Threat to Brick and Mortar Banking?
Upcoming Small Business Lending Conferences
Great Lakes Lenders Conference, Detroit, July 31 – August 1
Florida Small Business Lenders Conference, Orlando, September 17-19
NAGGL 2014 Annual Meeting, Huntington Beach October 28-30
Coleman’s 7th Annual SBA Secondary Market Forum, Washington D.C. December 2
Coleman’s 15th Annual Rural Lender’s Roundtable, Washington D.C. December 3