Posts Tagged ‘Bob Coleman’
A Case Study of Doing it Right
March 27, 2013 Other than the bizarre reference that the SBA helps with the collection of funds when a business fails, this Omaha World-Herald article is a feel-good piece about two twin sisters starting a cupcake shop. The paper is running an in-depth profile of all week about the women as they progress from an…
Read MoreAlternative Lending Fueled by Proprietary Knowledge
March 26, 2013 By Bob Coleman Editor, The Coleman Report We discussed proprietary knowledge with alternative small business lending databases with Glenn Goldman, CEO of Capital Access Network and CapTap. Bob Coleman: Hi we’re with Glenn Goldman, CEO of CapTap, an alternative lender out of New York. Glenn, welcome. Glenn Goldman: Thank you pleasure. Bob:…
Read MoreA Borrower only Needed $1 Million to Survive, Bank Says No, Jury Says Pay $7.5 Million
March 26, 2013 A Borrower only Needed $1 Million to Survive, Bank Says No, Jury Says Pay $7.5 Million In 2008, a Tennessee real estate developer who had already had $2.7 million in development loans on the books at the local community bank “only needed another $1 million to keep their business afloat.” The bank…
Read MoreSmall Business Lending Down $10.9 Billion, or 2% in 2012
March 25, 2013 A recent SNL Financial report contradicts all the big bank chest pumping press releases about how they are growing their small business loan portfolios. Banks with assets over $10 billion continue to decrease their small business loan presence. Analyzing three loan buckets, loans between $250,000 and $1 million increased over 4% in…
Read MoreMug Shot Monday – Dairy Cow Style
March 25, 2013 Collateral conversion crosses all NAICS codes, including cows. Today’s fraudster is a Wisconsin fraudster who pled guilty to ripping off the USDA. Writes the Stevens Point Journal, “The loan agreement obligated Peplinski pay down the loan as he sold the cattle. He also was required to do a number of things so…
Read MoreHealthier Small Business Borrowers Seen in 2013
March 22, 2013 We sat down with Marc Glazer, President & CEO, Business Financial Services, and talked about main street, a healthier more optimistic main street. Mr. Glazer has led the growth of Business Financial Services (BFS) since 2002. Having earlier transformed 4SmallBusiness.com, a small business portal of which he was CEO, into a specialty finance…
Read More$100 Million SBA Loan Fraud Admitted
March 20, 2013 By Charles H. Green A Virginia-based loan broker has admitted to using fraudulent documentation to get funding for over $100 million in SBA guaranteed loans during a career spanning 1998 until 2011. Sentencing is scheduled for May. Using altered bank statements, fake tax returns, and false financial statements, gift letters, check copies…
Read MoreTop Ten Reasons SBA GP Loan Submissions Get Screened Out
March 20, 2013 By Bob Coleman Editor, Coleman Report Gina Rodgers, Manager of Training & Personnel Development, banc-serv PARTNERS, LLC gives us the top ten reasons GP loans get screened out. 1. Repayment ability not demonstrated 2. Not pledging adequate available collateral 3. Line of Credit information 4. 912 information lacking/incomplete 5. Lack of Affiliate…
Read MoreHouse Small Business Leaders Announce Support of SBA 504 Refinance
March 19, 2013 House Small Business Leaders Announce Support of SBA 504 Refinance NADCO continues to gain traction in Congress in its fight to get the SBA 504 refinance ball rolling again. The latest supporters in the House include Wisconsin Republican Tom Petri and California Democrat Judy Chu. They join Georgia Republican Johnny Isakson and…
Read MoreThe Six Slimiest Franchises
March 19, 2013 By Bob Coleman Editor, Coleman Report Joel Libava annoints himself “The Franchise King” as he pairs franchisees with franchisors. He also writes articles such as today’s about the “dirties, slimiest and most disgusting” franchise opportunities – Maid Brigade, Steamatic, AdvantaClean, 360Clean, Superior Wash and Bio-One, Inc. Bio-One is particularly gruesome calling itself…
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