Posts Tagged ‘Coleman Report’
Fraud Friday — SIGTARP Files False Claims Act Clawback from the Grave
July 17, 2015 By Bob Coleman Editor, Fraud Friday In the same week former Attorney General Eric Holder told the Financial Times that record fines on banks were a better solution than “trying to make examples out of people,” TARP’s Special Inspector General continues to indict community bankers from failed institutions from the Great Recession.…
Read MoreA Vocal Few Say No to the Proposed SBA Disaster Guaranteed Loan Program
July 16, 2015 By Bob Coleman Editor, Coleman Report I only got eight votes on my lender survey about the proposed Immediate Disaster Assistance Programs, which right there speaks volumes about the tremendous industry lack of enthusiasm. (By contrast, 247 weighed in on the poll about 100% SBA 7(a) financing.) The proposed program would allow…
Read MoreColeman C-Suite Small Business Lending Report — SBLC, CFBP and IDAP
By Bob Coleman Editor, C-Suite Three stories in today’s alphabet soup edition! ********************************* First, Small Business Capital’s SBLC license is back on the market after BusinessUS’ purchase was nixed by SBA. The Receiver has announced the deadline for the new round of bids is July 27th. ************************************* Robert Villarreal of CDC Small BUsiness Finance disagrees…
Read MoreWould your Institution Embrace an SBA Loan Program that Funded $25,000 Bridge Disaster Loans with a 85% Guaranty?
July 14, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday SBA doesn’t think you would. Congress appropriated $3 million for the Immediate Disaster Assistance Program pilot program back in 2010. But, a scathing GAO report says SBA hasn’t implemented the program five years later for two reasons — technology issues and perceived lender’s reluctance…
Read MoreFraud Friday — SBA Equity Injection Docs Selling on Craigslist for $95
July 10, 2015 By Bob Coleman Editor, Fraud Friday Next time you verify equity injection from a paper bank statement, be careful. You can buy a bank statement on Craig’s List from a variety of vendors for $95. Or, need a pay stub — only $35. And that includes verification, however that works! A social…
Read MoreColeman Small Biz Lending Calendar — America East Early Bird Rate of $349 Expires July 11th!
July 8, 2015 By Bob Coleman Editor, Small Biz Lending Calendar Register by July 11th and Save $100! America East Conference for SBA Lenders, August 12-14, Baltimore The following breakout sessions are scheduled: Business Valuations Outsourcing your SBA Department Closing Your SBA Loan Properly OCRM & Lender Oversight Workouts, Liquidations & Everything Herndon Deal Structure…
Read MoreSBA Directs Lenders to Compare Completed Construction Projects with Original Plans
July 7, 2015 by Leigh Ann Henderson National Client Manager Partner Engineering and Science Effective May 1, the SBA released further updates to its Standard Operating Procedures [SOP 5010 5(H)] with the intent to streamline and better manage risk in lending processes. Some of these changes affect the appraisal requirements for construction loans, including SBA…
Read MoreMain Street Monday — Common Reasons Small Business Startups Fail
July 6, 2015 By Bob Coleman Editor, Main Street Monday I ran across this eclectic website that allows Founders to share with the community why their venture failed — autopsy.io. While the stories are about the tech world, the results are insightful and match many reasons explaining Main Street doors are shuttered. The number one…
Read MoreSurvey Says 504 Approval Process is Leading Cause of Insomnia for the SBA Industry
July 2, 2015 By Bob Coleman Editor, Coleman Report Sludge in the SBA 504 loan approval process is the number one concern for the industry. Is the result from my “What Keeps you up at Night?,” poll last week. This sums it up best; “What keeps me up at night is 504 projects. SBA is…
Read MoreSBA 7(a) Closer and Servicer Compensation Affected by Experience and Geography
July 1, 2015 By Bob Coleman Editor, C-Suite I received excellent feedback of my reporting of SBA 7(a) closer and servicer compensation. First, Tim Terry of SBA Advisors Says; “Just thought you would want some input from what I see as a national SBA focused recruiter. I wish I could find closers at $55. That…
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