Posts Tagged ‘Bob Coleman’

July 15, 2013 By Bob Judge Editor, CPR Report In May, prepays returned to the 7% level, coming in exactly at that number last month. After a move into the 5-6% range in March and April, we have returned to the levels from the first two months of the year. As has been the case…

July 12, 2013 By Bob Coleman Editor, Coleman Report The owner of a North Carolina tire recycling plant convicted of four counts of loan fraud walked out of the courtroom a free man yesterday. Federal sentencing guidelines call for a prison term of 51 to 71 months and the prosecutors urged 30 months. “In 2010,…

July 12, 2013 By Bob Coleman Editor, Coleman Report An appellate-court panel Friday upheld a bribery conviction for the former Fort Peck superintendent for the Bureau of Indian Affairs, but reversed four other convictions involving her role in a loan fraud scheme. Florence White Eagle, the former superintendent of the Fort Peck Indian Reservation in…

July 11, 2013 By Karen McHugh SBA Complete Sometimes PLP lenders may choose to shy away from a franchised operation if they are not listed on SBA’s franchise registry (www.franchiseregistry.com), because they don’t want to jump through the hoops required to make the eligibility decision delegated to them.  However, even if the franchisor is not…

July 11, 2013 By Bob Coleman Editor, Coleman Report Today is part two of our periodic coverage of the June 14, OIG report about improper SBA payments to lenders for SBA 7(a) ARAA stimulus, 90% guaranty purchases. In December 2010, SBA paid $670,000 to The Washington Trust Company for its share of a loss on…

July 10, 2013 By Bob Coleman Editor, Coleman Report Main Street optimism is exploding through the roof. Despite what you read about the economy, small business owners are optimistic about their futures, a whopping 73%, up from 45% only nine months ago. From the SurePayroll Scorecard. “Right now we’re seeing two stories in the small…

July 10, 2013 by Bob Coleman Editor, Coleman Report Equity Investor Assumes an SBA Guaranty Means Everything is Legit with the Business Operator Sadly, not for a 73-years-old investor who lost $400,000. The can’t miss investment was for a startup powder coating business. That is the process of coating metal with paint in a powder…

July 9, 2013 By Bob Coleman Editor, Coleman Report In a year-to-year comparison, small business lending approvals at big banks are up 52 percent over the figure from June 2012, says the latest Biz2Credit Small Business Lending Index “While approvals dropped slightly at big banks in June, overall small business lending rebounded in the first…

July 9, 2013 By Bob Coleman Editor, Coleman Report Using Franchise Lending in Your Niche Product Mix Historically, SBA guaranteed franchise loans perform better than non-franchise loans. But, as in any niche lending arena knowledge and information is key for a healthy portfolio. To learn more about franchise financing, and six franchise concepts, consider attending…

July 8, 2013 SBA’s OIG has released its May 2013 monthly recap. The interesting takeaway is SBA’s Inspector General differentiates between business loans and recovery act loans – the stimulus loans that received a 90% guaranty. Further proof the OIG is paying very close attention to these loans. After all, they got a large, separate…