January 15, 2014
By Bob Coleman
Editor, Coleman Report
We are very pleased to welcome a new Administrator to lead the critical work of the SBA, which has been a lifeline for America’s small businesses in these economically challenging times,” said Beth Solomon, President & CEO of NADCO. “While Wall Street has seen a faster recovery and is thriving, Main Street urgently needs the nation’s focus and support to create the jobs America needs.”
Contreras-Sweet, an active member in the Los Angeles Latino community, has played a critical role in providing access to capital for California’s small businesses and brings a wealth of corporate and government experience to her new role. Contreras-Sweet will fill the final slot in President Obama’s second term Cabinet and will be faced with continuing to strengthen the REAL (504) Loan Program, which enables small businesses to buy real property and fix assets, and produced more than 7,700 loans in FY 2013, for a total of more than $11.7 billion in small business finance.
Mike Austin and Jim Carroll Get Byline for Changes in SBA loan Underwriting
Mike Austin is an SBA lender at Fulton Bank in Virginia Beach who has over 25 years experience in making and administering SBA guaranteed loans. For the past 16 years, Jim Carroll has served as the vice president for small business for the Hampton Roads Chamber of Commerce and as the executive director of the Small Business Development Center of Hampton Roads Inc.
Dealstruck Announces Asset Based Line of Credit to Meet Working Capital Needs of Small Businesses
“Traditionally, bank lines of credit have been available only to ultra-prime small businesses, and asset-based lines have been reserved for larger businesses with monthly revenues of more than $500,000. This leaves a huge swath of growing small businesses unable to access working capital with the affordability and flexibility provided by a line of credit. We’ve managed to take a prime product to the broader small business market, and make it available in the smaller amounts small business owners truly need at a price they can afford,” said Ethan Senturia, co-founder and CEO. “At the same time, investors on the Dealstruck platform can now benefit from the short terms and higher yields typical of asset-based lending.”
“Winner of the Best Pitch award at San Diego Tech Coast Angel’s 2012 Quick Pitch Competition, Dealstruck launched its funding marketplace in June 2013 and has quickly expanded its team and product line to meet growing market demand. To learn more about the company and its SMB credit products, please visit www.dealstruck.com.
Upcoming Small Business Lending Conferences
Franchise Lending Spotlight Conference, Houston, February 5
2014 Southeastern Small Business Lenders Conference, Reynolds Plantation, February 9-11
ICBA 2014 National Convention, Honolulu, March 2-6
NADCO Government Relations Conference 2014, Washington D.C., March 3-5
Franchise Times Franchise Finance & Growth Conference, Las Vegas, March 26-27
NADCO 2014 Annual Meeting, Colorado Springs, April 30 – May 3
NAGGL 2014 SBA Lending Technical Conference, Bonita Springs, May 6-8
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