Is SBA 7(a) 100% CRE Financing Prudent Lending?

June 4, 2015 By Bob Coleman Editor, SBA Marketing Trends Thursday SBA Marketing Trends Thursday I received plenty of comments regarding last week’s reporting of SBA lenders who are offering 100% financing for commercial real estate for certain white collar professionals. The first one… “Hi Bob, Is this morning’s brief news or a paid advertisement?”…

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Coleman’s Movers & Shakers

June 3, 2015 By Bob Coleman Editor, Coleman’s Movers & Shakers 1st Capital Bank Announces Rob Skeen Appointed Vice President, Government Guaranteed Lending Manager Jon Ditlevsen, the Monterey-based Bank’s Chief Lending Officer, says, “We are very pleased to have Rob join our team as the Manager of our Government Guaranteed Lending Department. He is an…

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Integrity Bank Reduces Equity Requirements for Veterans and Women

June 3, 2015 By Bob Coleman Editor, C-Suite Small Biz Lending Challenges Report Houston-based Integrity Bank has reduced the down payment required for SBA loans under $150,000 from 30 to 20 percent for qualified borrowers. The bank also will loan the borrower 25 percent toward the required down payment, not to exceed $7,500. Repayment of…

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The Amended Tax Return Fraud Scheme

June 2, 2015 By Bob Coleman Editor, SBA OIG Report Coleman SBA OIG Report I always wondered if anybody pulled this one off. File bogus tax returns with the IRS, have the lender certify the returns with the IRS Form 4506, and then file an amended return. Someone did, and got caught. This just in…

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Mug Shot Monday — Nik Patel’s Two-Year old Quotes Hint at Fraud?

June 1, 2015 By Bob Coleman Editor, Mug Shot Monday “I used my money first.” “From the debt side, we’re finding it very easily. We’re able to find a debt financing piece of these purchases, and we’ll be looking for an equity partner soon.” “‘For the most part, it’s been smooth sailing.” All are quotes…

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Main Street Monday — 67% of Main Street Expects Revenues to Grow

June 1, 2015 By Bob Coleman Editor, Main Street Monday More from the Bank of America Spring Main Street Report, Part III. Nearly two-thirds (63 percent) of small business owners expect their revenue to increase in the next 12 months, compared with 68 percent a year ago. One in three small business owners (31 percent)…

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Fraud Friday — Pennant Management Closure Attributed to Nik Patel Fraud

May 29, 2015 By Bob Coleman Editor, Fraud Friday The Milwaukee Journal Sentinel reports more fallout from the Nik Patel, $180 million USDA B&I loan fraud. The investment company that purchased the loans from Nik Patel’s company, First Farmers Financial, and sold them primarily to Illinois municipalities as “safe” investments has padlocked its doors. The…

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Dan Demeo, CEO of CAN Capital Headlines LEND360

May 28, 2015 By Bob Coleman Editor, Coleman Small Business Lending Events Calendar Coleman Small Business Lending Events Calendar As CEO of CAN Capital, Dan DeMeo is one of the leading voices for innovation in alternative finance. And LEND360 is bringing them all together. Lenders conducting business in many verticals in consumer and small business…

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Coleman’s Movers and Shakers — Multifunding Adds SVP

May 27, 2015 By Bob Coleman Editor, Coleman’s Movers and Shakers Daniel Krewson Joins MultiFunding as Senior Vice President and Senior Advisor Says MultiFunding’s Ami Kassar, ‘Dan was one of the first lenders I met when we started MultiFunding over five years when he just started at Valley Green Bank. At Valley Green Bank he…

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