Posts Tagged ‘Bob Coleman’
MN State Senator Sued by US Bank for $750k SBA Loan Default
January 22, 2014 By Bob Coleman Editor, Coleman Report National Camp Association was started in 2008 to help parents find camps for their kids. In 2009 the company received an SBA 7(a) loan from US Bank for $613,000. The owners are Sean and Cynthia Nienow. Sean Nienow lost a reelection bid race for his Minnesota…
Read MoreA Free Online MBA Course Starts this Week – “Smart Growth for Private Business, Part I)
January 21, 2014 By Bob Coleman Editor, Coleman Report Last year, I enrolled in a MOOC (Massive Open Online Course) through Coursera about small business growth. It was excellent and I highly recommend small business lending professionals to check it out. Taught by University of Virginia’s Edward Hess you will receive MBA level instruction from…
Read MoreFraud Friday – Small Business Lender Sentenced to 29 Months for $1.7 Million Fraud
January 17, 2014 By Bob Coleman Editor, Coleman Report The owner of a Connecticut nonbank lender who provided financing to companies for the purchase of heavy equipment, such as tractor-trailer trucks, dump trucks, backhoes has been sentenced to 29 months in prison. Anchor Capital Services would draw down on the lines of credit it had…
Read MoreColeman Thursday’s Movers and Shakers
January 15, 2014 By Bob Coleman Editor, Coleman Report NADCO Quick to Support SBA Administrator Nominee We are very pleased to welcome a new Administrator to lead the critical work of the SBA, which has been a lifeline for America’s small businesses in these economically challenging times,” said Beth Solomon, President & CEO of NADCO.…
Read MoreThe SBA Loan Numbers Behind Obama’s Community Banker Nominee to Head SBA
January 15, 2014 By Bob Coleman Editor, Coleman Report President Obama has chosen a community banker whose niche is the Los Angeles Hispanic community, Maria Contreras-Sweet, as his nominee for SBA Administrator. I’ll defer to this great write-up by Kent Hoover of the Business Journal for her background. She is the co-founder and chair of…
Read MoreSBA 504 Loan Liquidations in a Post Resource Capital World, e.g. the New SOP 5055 for 2014
RESCHEDULED FOR Friday , February 14, 2014 SBA 504 Loan Liquidations in a Post Resource Capital World, e.g. the New SOP 5055 for 2014 • 504 Liquidation for the 3rd Party Lender and the CDC • What the Third Party Lender Needs to Know about Foreclosing a SBA 504 loan • SBA Details Rules when…
Read MoreCPR Report: SBA 7(a) Prepays Up Slightly
January 15, 2014 by Bob Judge Editor, CPR Report Government Loan Solutions In November, prepays moved slightly higher over October levels, recording the third consecutive month below 8%. However, this month’s reading does represent the 7th month in a row of 7% or higher prepays. While the movement up was similar in percentage terms to…
Read MoreSBA REAL Financing Down 40% Due to Debt Refi Expiration
January 14, 2014 By NADCO Loan Volume Continues to Plummet, Amidst Expiration of Debt Refinancing and Uncertainty of Fed’s Stimulus Reduction WASHINGTON, DC –The National Association of Development Companies (NADCO) Small Business Lending Report (SBLR) showed an overall decrease in volume of this month’s commercial real estate and equipment finance loans to small businesses, reflecting…
Read MoreMug Shot Monday – 3 Community Bank Borrowers Nailed for Lying
January 13, 2014 By Bob Coleman Editor, Coleman Report Missouri based Excel Bank failed in 2012 costing the FDIC $126 million. And since the bank received TARP funds, “having the TARP investigators available to look into the bank fraud cases helped lead to the indictments,” says U.S. Attorney Richard Callahan. Writes St. Louis Today; William…
Read MoreFraud Friday – SBA Inspector General Part II
January 10, 2014 By Bob Coleman Editor, Coleman Report Monday, I wrote about seven fraudsters, six borrowers and one lender who face serious charges from the feds for their malfeasance in SBA lending from the October 2013 monthly SBA Inspector General report. Here are the final four snippets. President of Missouri Construction Company Gets Probation…
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