Posts Tagged ‘Bob Coleman’
SBA 7(a) Loan Servicer Compensation is, Well, Depends on Experience.
June 26, 2015 By Bob Coleman Editor, Coleman Report Yesterday I comfortably reported the average SBA 7(a) loan closer compensation is around $50,000. Today, I don’t feel that righteous. The small sample clearly shows the market pays for experience. So, to force me to commit to a number, I’m calling it $35,000 for junior level…
Read MoreThe Silly Season & SBA Funding
June 23, 2015 By Tom Wallace Editor, SBA Hot Topic Tuesday When I woke up this morning, I was sure it was 2015, yet, there in front me, looming considerably larger than life, were the visages of two people: a Bush and a Clinton; each announcing their candidacy for the Presidency of the United States.…
Read MoreSBA Loan Broker Poll Comments — The Good, The Bad and The Ugly
June 23, 2015 By Bob Coleman Editor, Coleman Report The good loan broker comments outweigh the bad, but the bad and ugly comments are well, bad and ugly. Two issues were raised, which I will follow up at a later date. One lender was criticized on their PARRiS review for paying over a $30,000 fee…
Read MoreMarket Trends Thursday — SBA 7(a) lenders and loan brokers
June 18, 2015 By Bob Coleman Editor, Market Trends Thursday Humbled by the awesome response by the industry regarding the discussion of 100% financing for SBA 7(a) CRE loans, I thought I would turn to the industry’s take on loan brokers. Take the survey here Overall, are you satisfied with your experience with SBA 7(a)…
Read MoreColeman Movers & Shakers
June 17, 2015 By Bob Coleman Editor, Movers & Shakers David Green Joins American Business Lending as Executive Vice President “David will be a very valuable asset to ABL, bringing a wealth of knowledge of the small business industry and SBA”, says ABL CEO Charlie Bell. “His professionalism, knowledge and passion for SBA lending will…
Read MoreBrown is the New Competitor
June 17, 2015 by Bob Coleman Editor, C-Suite Small Business Lending I don’t know why UPS didn’t do this years ago — using their data to credit score small business loans. I have been a UPS customer for 20 years. Think about all the data they have on me. •Monthly shipping costs •Whether I pay…
Read MoreSBA Hot Topic Tuesday — Feathers’ SBLC License Back on the Market
June 16, 2015 By Bob Coleman Editor, Hot Topic Tuesday The sale of Mark Feathers’ small business lending company SBA license has fallen through. The approved bidder, BusinessUS was unable to close the transaction, and SBA has withdrawn their support says the receiver in a court filing last Friday. Writes the receiver: The Agreement called…
Read MoreSBA Inspector General Denys Three More ARAA Loan Guaranties
June 16, 2015 By Bob Coleman Editor, SBA OIG Report SBA’s Inspector General has issued a second audit of early defaulted ARAA SBA 7(a) loans. Nine loans were reviewed, and three loan guaranties were deemed to have been improperly purchased from lenders by SBA. We’ll examine each of the three loans in separate Coleman Reports.…
Read MoreMug Shot Monday — Stockholm Syndrome and the Iowa Banker?
June 15, 2015 By Bob Coleman Editor, Mug Shot Monday How else to describe the relationship between a banker and his borrowers that resulted in five guilty pleas for bank fraud? It appears the banker didn’t benefit financially as he crossed the line trying to bail out his borrowers by approving loans to straw borrowers…
Read MoreFraud Friday — Six Months in Jail for “Extend and Pretend” Lending
June 12, 2016 By Bob Coleman Editor, Fraud Friday “This TARP bank officer engaged in an ‘extend-and pretend’ bank fraud scheme, extending what looked on the bank’s books as new loans for new purposes to new borrowers, when Harrison knew that the loan proceeds would be used to make other delinquent loans from other borrowers…
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