Posts Tagged ‘Bank loan’

August 14, 2013 By Bob Judge Editor, CPR Report In June prepays stayed above 7% for the second month in a row and for the 4th time this year. The reason for the move into the 7s is the same one I have given all year. Voluntary prepayments have begun to recover while defaults remain…

August 13, 2013 By Karen McHugh SBA Complete One of the services that SBA Complete provides is an on-site or remote compliance loan review. Our narrative report provides a summary of key findings, critical issues, and recommendations for best practices. Our approach is not that as an “auditor,” but as an “educator.” We provide a…

August 12, 2013 By Bob Coleman Editor, Coleman Report Three directors of a failed bank, also the chairman’s wife, have been charged with a $70 million bank fraud that resulted in the closing of Illinois based Premier Bank. The indictment says that from 2006 until the bank’s failure, the defendants hid the poor financial condition…

August 12, 2013 Last week I reported on NFIB’s access to capital quarterly survey results. This week another small business advocacy group, NSBA, released their 2013 Mid-Year Economic Report. The takeaway? Main Street’s lack of capital stifles job creation. “Using NSBA data from as far back as 1993, there is a clear correlation to a…

August 9, 2013 Friday’s Movers and Shakers Lisa Gambrino and Kimberly Lahr are merging their long established firm sbaStrategies, with SBA Complete. “We feel very fortunate to be able to join forces with such extremely talented people as Lisa & Kimberly. Because of their outstanding reputation, Lisa and Kimberly bring a strong client following and…

August 8, 2013 Fraud or irresponsible conduct are the terms thrown about describing Bank of America’s employees in a civil action filed by the Department of Justice against the Wall Street bank this week. The DOJ accuses the bank of vastly understating risks to investors in $850 million in mortgage backed securities. Five investors lost…

August 8, 2013 We spoke with Jonathan Meltzer, VP, Ice House America at the Boefly Franchise Spotlight Conference in Irvine, CA. Bob Coleman: We’re talking to Jonathan Meltzer, Ice House America out of Jacksonville. What’s Ice House America? Jonathan Meltzer: Ice House America is the largest franchiser for ice vending machines in the United States.…

August 8, 2013 By Bob Coleman Editor, Coleman Report The USDA and SBA, no reference to a lender, are being sued by a coalition of environmental groups for failing to perform a proper environmental impact report on a hog farm that was financed by an SBA loan. Reports the Arkansas based Springfield News-Leader; “The plaintiffs…

August 7, 2013 By: Kimberly A. Rayer, Esquire The U.S. Small Business Administration (“SBA”) has recently released new Litigation Plan Tabs that must be completed for Non-Routine litigation matters. These new Tabs replace the prior Litigation Plan form provided by SBA and are more consistent with the requirements set forth in SOP 50 57. The…

August 7, 2013 By Bob Coleman Editor, Coleman Report One in five say poor sales is their number one problem in the NFIB quarterly survey of its members. At the other end of the spectrum the same number say taxes are their single most important problem. Safe to say you want to target those small…