Posts Tagged ‘Bank loan’
Mug Shot Monday – Wild West Style
April 1, 2013 When the regulators told the president of a Greeley, Colorado community bank he needed to raise capital in 2008 he did exactly what they said, raising $7.8 million to bolster the bank’s reserves. Unfortunately for Mr. McAllister, the feds allege, he told his employees to solicit bank customers to trade their…
Read MoreTaming 7(a) Paperwork – How to Fund Your Loans Faster
Taming 7(a) Paperwork – How to Fund Your Loans Faster A Best Practice Guide for Maximum Efficiency and Effectiveness in processing 7(a) Loans Tuesday, April 23, 2013 2:00 p.m. to 3:15 p.m. Eastern Price: $289.00 Complimentary Coleman Report News with Bob Coleman starts at 1:50 p.m. Eastern Use our “email address only” order form! SBA…
Read MoreFraud Friday – The Broker, The Banker, The Gas Station Owner — All Guilty
March 29, 2013 By Bob Coleman Editor, Coleman Report Two fraud and bribery convictions, coupled with three earlier guilty pleas wrap up a Detroit fraud ring investigation that included an assistant vice president from Fifth Third Bank, an attorney, a title company vice president and an owner of several gas stations. Says the FBI, “The…
Read MoreAlternative Small Business Lenders Increasing Main Street Up Loan Totals
March 29, 2013 Alternative lender On Deck Capital’s CEO Noah Breslow got a nice profile piece about him and his company in the April edition of Forbes Magazine. Embracing all the data they can find on the Internet, such as Google, social media, Yelp, legal records the company boasts it can make a credit decision…
Read MoreThe Glass Ceiling Extends to Small Business Lending?
March 28, 2013 Women entrepreneur small business loan approvals are 15 to 20% lower than for their male counterparts say Biz2Credit’s Rohit Arora. After analyzing 14,000 Biz2Credit online loan applications he concluded women-owned businesses: • Submitted 29% of the loan apps • Show 15% lower annual revenues • Have 21% higher operating expenses • Have…
Read MoreA Case Study of Doing it Right
March 27, 2013 Other than the bizarre reference that the SBA helps with the collection of funds when a business fails, this Omaha World-Herald article is a feel-good piece about two twin sisters starting a cupcake shop. The paper is running an in-depth profile of all week about the women as they progress from an…
Read MoreAlternative Lending Fueled by Proprietary Knowledge
March 26, 2013 By Bob Coleman Editor, The Coleman Report We discussed proprietary knowledge with alternative small business lending databases with Glenn Goldman, CEO of Capital Access Network and CapTap. Bob Coleman: Hi we’re with Glenn Goldman, CEO of CapTap, an alternative lender out of New York. Glenn, welcome. Glenn Goldman: Thank you pleasure. Bob:…
Read MoreA Borrower only Needed $1 Million to Survive, Bank Says No, Jury Says Pay $7.5 Million
March 26, 2013 A Borrower only Needed $1 Million to Survive, Bank Says No, Jury Says Pay $7.5 Million In 2008, a Tennessee real estate developer who had already had $2.7 million in development loans on the books at the local community bank “only needed another $1 million to keep their business afloat.” The bank…
Read MoreSmall Business Lending Down $10.9 Billion, or 2% in 2012
March 25, 2013 A recent SNL Financial report contradicts all the big bank chest pumping press releases about how they are growing their small business loan portfolios. Banks with assets over $10 billion continue to decrease their small business loan presence. Analyzing three loan buckets, loans between $250,000 and $1 million increased over 4% in…
Read MoreMug Shot Monday – Dairy Cow Style
March 25, 2013 Collateral conversion crosses all NAICS codes, including cows. Today’s fraudster is a Wisconsin fraudster who pled guilty to ripping off the USDA. Writes the Stevens Point Journal, “The loan agreement obligated Peplinski pay down the loan as he sold the cattle. He also was required to do a number of things so…
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