Posts Tagged ‘Bank loan’

April 18, 2013 By Bob Coleman Editor, Coleman Report SEC Seized SBA Lender Update of Mark Feather’s Small Business Capital It’s been almost a year since the SEC seized Northern California SBA lender Small Business Capital. During that time the court-appointed receiver has been winding the operations of the firm previously owned by Mark Feathers.…

April 17, 2013 By Bob Coleman Editor, Coleman Report New Jersey community bank president Frank Sorrentino has an interesting blog post at Forbes.com where he challenges small owners to be positioned to take advantage of an economic recovery. Main Street must shed their “wait and see” mode, and take action now. His advice? 1) Talk…

April 17, 2013 Says the Thomson Reuters/PayNet Small Business Lending Index, “Perhaps more telling are early signs that financial stress is building. “Trucking companies, whose behavior historically has led that of other small businesses, are having more trouble paying back their loans. “Delinquencies of 31 to 180 days among transportation service and warehouses companies rose…

April 16, 2013 By Bob Coleman Editor, Coleman Report Bitcoin, the virtual currency has been in the news recently has a new alternative currency. Here is how four entrepreneurs use bitcoin. 1) One accepts bitcoin due to speed. No waiting one or two days for Paypal or credit card deposits. 2) A BBQ restauranteur mines…

April 16, 2013 Bob Coleman: We’re with Azim Saju and Rocky Pintozzi at the Choice Owners Council in Phoenix, Arizona. Gentlemen, thank you for inviting me; wonderful day. Financing is key for your members. What is the main take away that the attendees are going to take with them back to their locations? Azim Saju:…

April 15, 2013 By Bob Coleman Editor, Coleman Report I’ve written about the threat Amazon poses to Main Street with its plans for same-day product delivery. Today’s entrepreneur faces continuing challenges on many fronts to survive. Amazon is just one. However, Main Street can compete with Amazon, as along as the entrepreneur clearly understands the…

SBA Remarks on the President’s Fiscal Year 2014 Budget Small Business Lending and Investment Summit Capitol Hill, Washington D.C. April 10, 2013 By Bob Coleman Editor, Coleman Report SBA Associate Administrator Jeanne Hulit announced President Obama’s year end 2014 budget for the 7(a) loan program at $17.5 Billion and the 504 loan program at $6.5 Billion. The…

April 9, 2013 Entrepeneur’s Cat Clifford gives an excellent overview of the explosive growth in crowdfunding – computer online platforms that match investors with entrepreneurs. First the stats. There are 308 crowdfunding platforms that raised $2.7 billion last year, an 81% increase over 2011. Here are Cat’s three themes 1) More groups are using crowdfunding…

April 9, 2013 Yesterday we wrote about a federal prosecutor who is going after four Virginia ex-community bankers and criminalizing bad loan decisions. Today, we cover a Dayton Daily News hit piece that shockingly (yes, note the heavy sarcasm) reveals a $1.3 billion loss in SBA 7(a) loans over a 13 year period. Buried in the story…

April 8, 2013 By Bob Coleman Editor, Coleman Report New York Times blogger Ami Kassar has penned a thoughtful piece reminding all of us that despite the relentless drive to boil everything down to buckets, social media ratings and credit scores, small business lending is still an art. He writes about his recent encounter with…