Posts Tagged ‘Bob Coleman’
Fraud Friday – Virginia Lawyer Gets 15 Years for SBA Loan Fraud
June 28, 2013 By Bob Coleman Editor, Coleman Report The fallout of one of the largest SBA loan fraud schemes continues with the lawyer and mastermind getting 15 years and eight months in federal prison for his role in a 17 lender, 124 loan, $100 million fraud. Between 2003 and 2011 Joon Park and his…
Read MoreWhy Care about Foursquare?
June 28, 2013 By Bob Coleman Editor, Coleman Report Because it’s a simple, free, quick way to track your customer’s success, or lack thereof. You don’t need to be on Foursquare, Facebook, etc… but if your customers are there… you should be able to “check in” and see what the community thinks. “Check” out this…
Read MoreTwo for the Price of One
June 27, 2013 By Bob Coleman Editor, Coleman Report There are two takeaway’s in this afternoon’s Coleman Report. First, this is an example of how the CEO and Founder of Worthington National Bank uses a Twitter inteview for a branding and marketing exercise. The second takeaway is the content itself. Check out these tweets. SmallBizLady:…
Read MoreHow to Underwrite Loans to Convenience Stores and Not Wind up in the Tank
How to Underwrite Loans to Convenience Stores and Not Wind up in the Tank Tuesday, July 30th, 2013 2:00 p.m. to 3:15 p.m. Eastern Price: $289.00 Use our “email address only” order form! According to the National Association of Convenience Stores (NACS), the number of convenience stores has grown from 71,400 stores in 1982 to…
Read MoreSBA Lender Liability During an Offer in Compromise
June 27, 2013 By Bob Coleman Editor, Coleman Report Ethan Smith joined us during our webinar on negotiating the Offer in Compromise and discussed how important lender liability is in submitting an offer to the federal government. Here are his insightful statements. “As the lender, you have a liability to the federal government as a…
Read MoreBest Practices: Workout of an SBA Loan
June 26, 2013 By Bart Blechschmidt, Esquire Starfield & Smith, P.C. The term workout as defined in the SOP 50 57 is “the debt collection and negotiation process as well as the final plan agreed upon by a creditor and debtor with regard to how the problems and issues surrounding the debtor’s delinquent obligation to…
Read MoreThe Inspector General Strikes Back – “First in a Series of Memorandums”
June 26, 2013 By Bob Coleman Editor, Coleman Report Flush with cash to audit lender SBA 7(a) recovery act loans, our friends at the Inspector General don’t disappoint in their just released “first memorandum” of federal government improper payments to SBA 7(a) lenders. Their findings? Lenders were wrong with their documentation 100% of the time.…
Read MoreSmall Business Lending in Deep Freeze
June 25, 2013 By Bob Coleman Editor, Coleman Report Yesterday, we reported how Obama’s Small Business Lending Fund has increased small business lending for 90% of lenders who accessed the fund. Today, another view. The Washington Post’s J.D. Harrison says three years after the end of the recession, we remain in a credit desert, with…
Read MoreObama Administration Small Business Lending Fund a Success, Say Treasury
June 25, 2013 By Bob Coleman Editor, Coleman Report Not to be out done by the larger Wall Street banks, now U.S. Treasury is getting into the small business loan chest thumping pr blitz and bragging about how it is meeting the needs of Main Street. Check out this array of cool stats. 1) 90%…
Read MoreSBA Ends National Small Business Week With Swan Song for Karen Mills
June 24, 2013 By Kent Hoover Washington Bureau Chief, Business Journals The Small Business Administration is ending its celebration of National Small Business Week with events in Washington, D.C., that serve as a swan song of sorts for SBA Administrator Karen Mills. Mills has been a strong leader for the SBA at a critical time,…
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