Posts Tagged ‘Bob Coleman’
Mug Shot Monday – The Pastor Used his Free and Clear Church for a $192,000 Mortgage.
June 17, 2013 By Bob Coleman Editor, Coleman Report The problem is says the Milwaukee Journal Sentinel is Ridgestone Bank had a $1.5 million lien on the church. What happened? “It seems the pastor created and filed a false discharge of the mortage lien on the church property held by Ridgestone Bank with the Kent…
Read MoreFraud Friday – Timber! A Log Brokerage Business’ Fake Numbers Doom Company, Executive and Bank
June 14, 2013 By Bob Coleman Editor, Coleman Report Today’s fraudster was cooking the books as an executive of a Virginia log brokerage company. His guilty plea last week to bank fraud will earn him a sentence between 12 and 60 months for inflating the values of his company’s accounts receivable and inventory on borrower…
Read MoreTips in Refinancing Debt With a SBA 7(a) Loan
June 13, 2013 By Karen McHugh SBA Complete What separates a conventional commercial loan from a SBA guaranteed loan? Bottom line is that no matter how creditworthy the deal is, if the loan does not comply with SBA program eligibility requirements, the lender is wasting their time hoping for a guarantee on the transaction. Therefore,…
Read MoreThe Small Business Loan Supply and Demand Debate Continues
June 13, 2013 By Bob Coleman Editor, Coleman Report Yesterday morning we profiled Kent Hoover’s coverage of Tuesday’s small business economic summit where he focused on how giving lenders access to federal government data could innovate the small business lending industry. Washington Post’s J.D. Harrison’s coverage goes another direction – the revival of the supply…
Read MoreBest Practices: Basics of Real Estate Security
June 12, 2013 By Joseph A. Ernst, Esquire Starfield & smith, P.C. In the Unites States, one key difference between the various states is how real estate is treated as collateral for a loan; some states secure a loan through the use of a mortgage, while others use a deed of trust. Both mortgages and…
Read MoreThe Ten Steps in Negotiating the Offer in Compromise of a Small Business Loan
The Ten Steps in Negotiating the Offer in Compromise of a Small Business Loan Wednesday, June 26th, 2013 2:00 p.m. to 3:15 p.m. Eastern Price: $289.00 Use our “email address only” order form! The grand idea has failed. The loan is in default. And now it appears likely your borrower will not have the ability…
Read MoreShould the Trove of Government Data about your Customers be Shared with Others?
June 12, 2013 By Bob Coleman Editor, Coleman Report Small business journalist and friend Kent Hoover jumped all over yesterday’s statement by Treasury Secretary Jack Lew that perhaps it’s time the government shares all of the data it collects about a small business with lenders. Speaking at summit cohosted by the Treasury and SBA Lew…
Read MoreThe 9.5% Increase in Home Values is Good for Small Business
June 11, 2013 By Bob Coleman Editor, Coleman Report The 9.5% Increase in Home Values is Good for Small Business For most of Main Street says Inc. Magazine’s Jeremy Quittner. While it is true banks have drastically cut back home equity lines – B of A is down 23% from last year – some small…
Read MoreFrom Seven to 17 Employees in Six Weeks
June 10, 2013 By Bob Coleman Editor, Coleman Report Wearing vintage-style dressers the partners of this donut shop, (yes another one!) got everything right and are taking Minneapolis by storm. With the help of a $30,000 SBA 7(a) loan, a perfect location, a strong branding concept, professional assistance in creating their business plan and persistence,…
Read MoreSBA 7(a) Prepays Rise 5% in April
June 10, 2013 In April, prepays rose slightly, but stayed below 6% for the second month in a row after starting the year with two +7% prints. The increase was based on slight increases in both defaults and voluntary prepayments. As for the detail, overall prepayments rose 5.17% to 5.86% from 5.57% in March. In…
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