Posts Tagged ‘Bob Coleman’
Why SBA Wants to Eliminate the “Personal Resource Test”
February 27, 2013 By Bob Coleman Editor Coleman Report One of the four proposed SBA rule changes is to eliminate the Personal Resource Test for SBA 7(a) and 504 loans. The Personal Resource Test requires the lender to certify the borrower does not have excess liquid assets that should be committed to the business. So why…
Read MoreColeman’s Fresno SBA Loan Servicing Workshop
Coleman’s Fresno SBA Loan Servicing Workshop Wednesday, October 9, 2013 6:00 p.m to 9:00 p.m (Reception and Dinner) Thursday, October 10, 2013 8:30 a.m. to 4:00 p.m. The Downtown Club 2120 Kern St. Fresno, CA 93721 November 14-15, 2012 Sponsored by PCFS 2000 SBA Fresno Public Tour Reservation (Elisa Mendoza at (800) 347-0922 x 2758)…
Read MoreThe Official SBA Statement on Proposed Changes to the 7(a) and 504 Loan Program
February 26, 2013 Here is SBA’s take on its proposed changes. Among the proposed changes are: Eliminating the Personal Resource Test: A borrower will no longer be required to obtain a maximum level of personal finance resources for a 7(a) or 504 loan. This will streamline the loan process by eliminating complicated regulations used to…
Read MoreSBA Administrator Mills – “SBA Needs to be more Ubiquitous”
February 26, 2013 By Bob Coleman Editor Coleman Report Bloomberg’s John Tozzi got this great quote from outgoing SBA Administrator Karen Mills. “One of the most important things we hear is the SBA needs to be ubiquitous. We do all these things, but people still don’t know.” This is her advice to a yet unnamed…
Read MoreWho Should Be the Next SBA Administrator?
February 25, 2013 What new qualities would describe someone best suited to be the new SBA Administrator? The Shreveport Times’ Rhonda Abrams provides an excellent list of career experiences and job mandates that would make President Obama’s next appointee best suited to represent the small business sector before our federal government. Her list may be…
Read MoreSignificant Changes Coming to SBA 7(a) and 504 Loans, CDC Operations
February 22, 2013 by Bob Coleman Editor Coleman Report On Monday, SBA will propose historical changes to its lending programs. The 57-page Federal Register notice is seeking comment on a number of proposals to streamline the programs and eliminate unneeded paperwork and rules. We will cover the proposals in depth in the coming weeks, but…
Read MoreFraud Friday — Iran Sentences 4 to Death in Biggest Bank Fraud
February 22, 2013 by Bob Coleman Editor, Coleman Report From Iranian state media owned television “Four people were sentenced to death on charges of corruption on earth and disrupting the country’s economic system,” Iran’s Judiciary spokesman Gholam-Hossein Mohseni-Ejei told reporters on Monday. “The president of Bank Melli branch in Kish was slapped with life imprisonment…
Read MoreBank of the West SBA Lending Niche a Winning Strategy
February 21, 2013 By Bob Coleman Editor, Coleman Report Texas based Bank of the West make a strategic decision to focus on SBA lending to Main Street when it opened in 1986. The bank’s average SBA 7(a) loan size if just over $500,000 and it services a portfolio of almost $50 million. The future outlook…
Read MoreSBA Publishes its State of Small Business Report for 2012
February 20, 2013 If you are small business statistics geek, you must download SBA’s 164 page report. There is a lot of stuff in there. Here are some highlights: After falling from 2005 to 2009, the income of our smallest businesses (proprietorships) increased by 6.0 percent from 2010 to 2011. Corporate profits, which also declined…
Read MoreSequestration Should Not Cause Lending Holiday Says SBA
February 19, 2013 Over 100 California SBA lenders attended the Santa Ana SBA Lender Rountable featuring Jeanne Hulit, Associate Administrator for SBA’s Office of Capital Access. We got to speak with her about what’s going on in Washington. Bob Coleman: We’re with Jeanne Hulit, the Associate Administrator of the Office of Capital Access; Jeanne, thank you for…
Read More