Posts Tagged ‘Bob Coleman’
Go Green to Fund Multiple SBA 504 Loans with the same Borrower
May 26, 2015 By John Rockwell Project Manager, Partner Energy Borrowers that are relocating a business or improving an existing location are able to satisfy Green SBA 504 loan program goals by implementing energy efficiency projects (i.e., LED lighting, high efficiency HVAC, low-flow showers) that save 10% over the previous location’s energy consumption. Borrowers that…
Read MoreFaulty Lender Cash Flow Analysis a Target for SBA 7(a) Loan Guaranty Denials
May 25, 2015 By Bob Coleman Editor, Coleman’s SBA Inspector General Report Coleman’s SBA Inspector General Report Good bye to SBA Stats Tuesday and hello to Coleman’s weekly SBA Inspector General Report. A new weekly column every Tuesday morning devoted to the SBA OIG. For the next couple of reports I am focusing on the…
Read MoreFraud Friday — Borrower Overstates AR on Balance Sheet, Rips off Bank $800k
May 22, 2015 By Bob Coleman Editor, Fraud Friday ‘Steven Moorhouse lied to TARP recipient Old Second National Bank in order obtain more than $1 million in loans for his business, and for his criminal lie, Moorhouse will spend the next 21 months in federal prison,’ says Christy Romero, Special Inspector General for TARP (SIGTARP).…
Read MoreFeedback Friday — SBA Form 159 Signed at Initial Disbursement is Compliant for your Review
May 22, 2015 By Bob Coleman Editor, Feedback Friday A Feedback Friday question to Coleman faculty instructor, Lance Sexton: The Bank is paying a referral fee to the broker but the broker has not signed the 159 compensation form. Do we need this document prior to closing and funding? The broker fee will be paid…
Read MoreColeman Small Business Lending Calendar — Mid America Lender’s Conference 2015
May 21, 2015 By Bob Coleman Editor, Small Business Lending Calendar The 21st Annual Mid-America Lender’s Conference will be held at the Sheraton Dallas Hotel. The Conference will kick off Monday, August 31 at 11:30 with a general session followed by several breakout sessions and then a reception that evening. The specifics are being finalized…
Read MoreColeman C-Suite Small Business Lending Report — Online Small Biz Lenders Float Self-Regulation Proposals
May 21, 2015 by Lisa McGreevy Conference Chair, Lend360 Last week, the American Banker had an extensive story on the possible regulatory headwinds coming to the “alternative” lending space. This article follows on the several others that the American Banker has been writing of late. This is just one more example of what is growing…
Read MoreColeman’s Movers and Shakers
May 20, 2015 By Bob Coleman Editor, Coleman’s Movers and Shakers Maine the base of the newest SBA 7(a) nonbank lender CEI 7(a) Financing LLC (C7a), a wholly-owned subsidiary of Maine-based Coastal Enterprises Inc., has acquired one of the 14 SBA SBLC licenses and is now a direct SBA 7(a) lender. ‘As one of the…
Read MoreFraud Friday — Auction.com to Sell Nik Patel Hotel Properties
May 15, 2015 By Bob Coleman Editor, Fraud Friday Five Nik Patel hotel properties are being sold by auction.com in July. Nik was arrested last October on fraud charges involving $180 million of bogus USDA b&i loans — allegedly. The hotels are: · The DoubleTree by Hilton Orlando East, a 246-room full-service hotel located near…
Read MoreFeedback Friday — Bloomberg Hit Piece, Alternative Lending APRs.
May 15, 2015 By Bob Coleman Editor, Feedback Friday Patrick, Patrick Patrick. Your Bloomberg hit piece about SBA franchising lending yesterday is, well a hit piece. As I said in my conversation with you for your article, banks and borrowers cover loan losses through the fees they pay to SBA. Borrowers pay an upfront loan…
Read MoreCOLEMAN SMALL BUSINESS LENDING CALENDAR — Top 5 Reasons to Attend AltLend — Small Business Alternative Lending Event in NY in July
May 14, 2015 By Bob Coleman Editor, Small Business Lending Calendar Top 5 Reasons to Attend: Analyze and discuss industry data—this is your chance to evaluate the opportunities and risks within this space! Discover alternative paths to capital through unique partnerships with banks, hedge funds, private equity, SBA, and direct lenders Participate in interactive discussions…
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