Posts Tagged ‘Bob Coleman’
Amending Note Terms Under SOP 50 57
April 3, 2013 By: Kimberly A. Rayer, Esquire Starfield & Smith P.C. While most Lenders are well versed on SBA loan eligibility and loan closing conditions, many are not as familiar with the SBA’s requirements when it comes time for loan servicing requests from their Borrowers. The new SOP 50 57 sets out that the…
Read MoreBaseball’s Opening Day and Small Business Commonality — Stats
April 3, 2013 Aficionados of baseball love stats. Being able to quantify output is key in evaluating and predicting success or failure. With that theme, this morning we are reporting on some small business performance stats by Intuit, which gathers the information from their clients. These numbers are not massaged like some government indices —…
Read MoreThe 10 Fastest-Growing Industries for Small Business
April 2, 2013 Our friend Cat Clifford at Entrepreneur Magazine has this great article on the ten fastest growing small business industries. She writes, “Past performance is no guarantee of future results, as the old business truism says. But you also may have heard that you can’t know where you’re going without knowing where you have been.”…
Read MoreSBA Proposed Rule Changes Still Drawing Media Attentions
April 2, 2013 With the April 26th deadline approaching, SBA’s proposed rule changes are still garnering some attention in the media. Check out this San Fernando Valley Business Journal story discussing how the elimination of the personal resource test is a good paperwork reduction move given the credit elseswhere test will apply. Writes Mark Madler,…
Read MoreThe Anti-Celebrity Worship Story Saves 12 Companies 200 Jobs
April 1, 2013 One of our common themes is writing about bankers who succumb to celebrity worship and grant loans they have no business making. Today we turn the tables and offer this piece about three prominent English athletes who have become small business bankers. Manchester United’s Wayne Rooney is said to earn £230,000 a…
Read MoreMug Shot Monday – Wild West Style
April 1, 2013 When the regulators told the president of a Greeley, Colorado community bank he needed to raise capital in 2008 he did exactly what they said, raising $7.8 million to bolster the bank’s reserves. Unfortunately for Mr. McAllister, the feds allege, he told his employees to solicit bank customers to trade their…
Read MoreTaming 7(a) Paperwork – How to Fund Your Loans Faster
Taming 7(a) Paperwork – How to Fund Your Loans Faster A Best Practice Guide for Maximum Efficiency and Effectiveness in processing 7(a) Loans Tuesday, April 23, 2013 2:00 p.m. to 3:15 p.m. Eastern Price: $289.00 Complimentary Coleman Report News with Bob Coleman starts at 1:50 p.m. Eastern Use our “email address only” order form! SBA…
Read MoreFraud Friday – The Broker, The Banker, The Gas Station Owner — All Guilty
March 29, 2013 By Bob Coleman Editor, Coleman Report Two fraud and bribery convictions, coupled with three earlier guilty pleas wrap up a Detroit fraud ring investigation that included an assistant vice president from Fifth Third Bank, an attorney, a title company vice president and an owner of several gas stations. Says the FBI, “The…
Read MoreAlternative Small Business Lenders Increasing Main Street Up Loan Totals
March 29, 2013 Alternative lender On Deck Capital’s CEO Noah Breslow got a nice profile piece about him and his company in the April edition of Forbes Magazine. Embracing all the data they can find on the Internet, such as Google, social media, Yelp, legal records the company boasts it can make a credit decision…
Read MoreThe Glass Ceiling Extends to Small Business Lending?
March 28, 2013 Women entrepreneur small business loan approvals are 15 to 20% lower than for their male counterparts say Biz2Credit’s Rohit Arora. After analyzing 14,000 Biz2Credit online loan applications he concluded women-owned businesses: • Submitted 29% of the loan apps • Show 15% lower annual revenues • Have 21% higher operating expenses • Have…
Read More