Posts Tagged ‘Bob Coleman’
SBA Stats Tuesday — SBA 7(a) Prepays Fall Below 7%
April 28, 2015 By Bob Judge, Editor, The CPR Report In February, prepays drop back below 7% caused by a double digit decrease in both voluntary prepayments and defaults. Overall prepayments fell by 27% to 6.48%. Defaults remain below 2% for 18 months in a row. Looking at the largest sector, we saw the 20+year…
Read MoreMug Shot Monday — SBA Borrower Pleads Guilty for $1.7 Million Fraudulent (Photoshopped Docs) Biz Aq Loan
April 27, 2015 By Bob Coleman Editor, Mug Shot Monday In 2009, Stewart Harris applied for $1.7 million SBA loan to purchase a commercial glass company. To secure the loan, Harris submitted a loan application and purported tax returns in which he falsely represented the social security number of another individual. He also submitted photoshopped…
Read MoreMain Street Monday — SBA Office of Advocacy Highlights Barriers to Small Biz Growth
April 27, 2015 By Bob Coleman Editor, Main Street Monday The Office of Advocacy has released a study examining the challenges holding back small innovators. Lessons from the 3D Printing Industry, which I am fascinated with,identifies the barriers hindering the growth and development of small innovative companies, and offers solutions to those barriers. Eleven key…
Read MoreColeman Online Small Business Lending Report — Say Hello to the Small Business Finance Association
April 16, 2015 By Bob Coleman Editor, Online Small Business Lending Report A trade association that represents alternative, online small business lenders. Which used to be called the North American Merchant Advance Association, or NAMAA. The name change is significant and reflects the changing landscape of alternative small business lenders and Main Street. ‘NAMAA started…
Read MoreMain Street Wednesday — April 15 and Main Street
April 15, 2014 By Bob Coleman Editor, Main Street Wednesday The National Small Business Association’ 2015 survey on taxes found that, while the financial tax liability for small firms is a huge issue, the sheer complexity of the tax code is actually a more significant problem for America’s small businesses. In fact, 59 percent of…
Read MoreSuspect in Sonoma Valley Bank fraud found dead
May 9, 2014 By Bob Coleman Editor, Coleman Report A couple of weeks ago I reported on the arrest of two Sonoma Valley Bank bankers, Sean Cutting and Brian Melland, a borrower and the borrower’s attorney. The four were arrested in connection with the loss of $8.65 million in TARP funds when the…
Read MoreColeman Thursday Movers and Shakers
May 8, 2014 United Community Bank Acquires Business Carolina Blairsville, Ga.-based United Community Banks Inc. said Monday its banking subsidiary agreed to acquire approximately $25 million of loans and $6 million of other assets from Columbia-based commercial lender Business Carolina Inc. “We have been looking for a partner to help fuel our efforts…
Read MoreSBA Administrator Contreras-Sweet’s Keynote Speech at NAGGL Today – It’s Time to Get Rid of Paper!
May 7, 2014 By Bob Coleman Editor, Coleman Report New SBA Administrator Maria Contreras-Sweet is making the rounds to SBA lending trade groups Her message? She told NAGGL attendees in Florida today SBA will radically change its processes to help SBA 7(a) lenders make smaller loans to underserved markets. “Today, I have…
Read MoreSBA Hot Topic Tuesday – Top Ten NADCO Style
May 6, 2014 By Bob Coleman Editor, Coleman Report I’m back in town after leading the “Hot Topic” Third Party Lender breakout session at the Broadmoor Hotel in Colorado Springs last week. Thanks to the panelists for taking their time to inform session attendees their view of the SBA 504 industry: Donald…
Read MoreSBA Inspector General Denys Three More ARAA Loan Guaranties
March 19, 2014 By Bob Coleman Editor, Coleman 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. Today’s…
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