Bob Coleman | Coleman Report

SBA Inspector General Demands Denial and Reimbursement of a $967,869 SBA 7(a) Guaranty Payment – # 4 of 6

August 20, 2013 By Bob Coleman Editor, Coleman Report Today is part four of my periodic coverage of the June 14, OIG report about improper SBA payments to lenders for SBA 7(a) ARAA stimulus, 90% guaranty purchases. Monadnock Community Bank was paid $555,000 by SBA for the purchase of a SBA 7(a) guaranty two years…

Fraud Friday – Banker to serve 15 months in prison for Refinancing Past Due Loans, Lying to Loan Committee

August 16, 2013 By Bob Coleman Editor, Coleman Report According to his attorney, today’s fraudster didn’t pocket a dime, but was simply a good ol’ boy banker trying to help out his customer. Said his attorney to the court, “Howard’s case is very different from the traditional white-collar crimes, in that Howard never obtained these…

SBA 6th Annual Secondary Market Forum

Tuesday, December 3, 2013 Bingham Penthouse Conference Room 2020 K Street, NW (11th floor) Washington, DC 20006 Download Registration Form Each year, the SBA Secondary Market Forum brings together the leaders from the SBA lending industry, professional SBA broker dealers, buyers from the investment community, and government agencies. Join us in Washington D.C. as we…

SBA Eligibility 101

August 15, 2013 SBA Eligibility 101 By Charles H. Green Bob Coleman recently presented a webinar on SBA loan program eligibility recently. Joining him was Gina Rodgers, Manager of Training and Personnel for Banc-Serv Partners, LLC based in Westfield IN. The webinar was introduced as an in-depth look at standard 7(a) program eligibility through many…

Thursday’s Movers and Shakers

August 15, 2013 Thursday’s Movers and Shakers Matt Lilly Joins PCFS 2000 Mathew Lilly has joined PCFS 2000 as the Western Regional Sales Manager. This includes the Western part of the U.S. and includes Illinois, Michigan, Wisconsin, and Indiana. Mathew has more than 10 years of financing experience with seven years focused in U.S. SBA…

SBA 7(a) Prepayments Remain Above 7%

August 14, 2013 By Bob Judge Editor, CPR Report In June prepays stayed above 7% for the second month in a row and for the 4th time this year. The reason for the move into the 7s is the same one I have given all year. Voluntary prepayments have begun to recover while defaults remain…

Three Critical Material Issues For Your SBA Loan Review

August 13, 2013 By Karen McHugh SBA Complete One of the services that SBA Complete provides is an on-site or remote compliance loan review. Our narrative report provides a summary of key findings, critical issues, and recommendations for best practices. Our approach is not that as an “auditor,” but as an “educator.” We provide a…

Mug Shot Monday — Bank Owner Charged with $70 Million Fraud – Lied about Bank’s Financial Condition, Built Tunnel at his House

August 12, 2013 By Bob Coleman Editor, Coleman Report Three directors of a failed bank, also the chairman’s wife, have been charged with a $70 million bank fraud that resulted in the closing of Illinois based Premier Bank. The indictment says that from 2006 until the bank’s failure, the defendants hid the poor financial condition…

Just 65% of Small Businesses Report they are able to Obtain Adequate Financing, Down from 73% Six Months ago.

August 12, 2013 Last week I reported on NFIB’s access to capital quarterly survey results. This week another small business advocacy group, NSBA, released their 2013 Mid-Year Economic Report. The takeaway? Main Street’s lack of capital stifles job creation. “Using NSBA data from as far back as 1993, there is a clear correlation to a…

Friday’s Movers and Shakers

August 9, 2013 Friday’s Movers and Shakers Lisa Gambrino and Kimberly Lahr are merging their long established firm sbaStrategies, with SBA Complete. “We feel very fortunate to be able to join forces with such extremely talented people as Lisa & Kimberly. Because of their outstanding reputation, Lisa and Kimberly bring a strong client following and…