Posts Tagged ‘Coleman Report’
SBA Inspector General Denys Three More ARAA Loan Guaranties
June 16, 2015 By Bob Coleman Editor, SBA OIG Report SBA’s Inspector General has issued a second audit of early defaulted ARAA SBA 7(a) loans. Nine loans were reviewed, and three loan guaranties were deemed to have been improperly purchased from lenders by SBA. We’ll examine each of the three loans in separate Coleman Reports.…
Read MoreMug Shot Monday — Stockholm Syndrome and the Iowa Banker?
June 15, 2015 By Bob Coleman Editor, Mug Shot Monday How else to describe the relationship between a banker and his borrowers that resulted in five guilty pleas for bank fraud? It appears the banker didn’t benefit financially as he crossed the line trying to bail out his borrowers by approving loans to straw borrowers…
Read MoreFraud Friday — Six Months in Jail for “Extend and Pretend” Lending
June 12, 2016 By Bob Coleman Editor, Fraud Friday “This TARP bank officer engaged in an ‘extend-and pretend’ bank fraud scheme, extending what looked on the bank’s books as new loans for new purposes to new borrowers, when Harrison knew that the loan proceeds would be used to make other delinquent loans from other borrowers…
Read MorePRO 100% SBA 7(a) FINANCING COMMENTS
June 12, 2015 By Bob Coleman Editor, Market Trends Thursday Special Edition Part 3 Yesterday, I ran the numerous comments I received why SBA 7(a) should not finance an 100% CRE loan. I received one excellent lengthy post that deserves its own report, I’ll run that next week. As usual, both sides present strong arguments.…
Read More58% of Industry Says SBA should Demand 10% Minimum Equity for SBA 7(a) CRE Loans
June 11, 2015 By Bob Coleman Editor, Market Trends Thursday Special Edition From the 250 who responded to our unscientific poll this morning — the largest response we have ever received in a six hour period. Thank you for all who participated! Due to the length of comments, I am dividing them over two reports.…
Read MoreWhat do you think about SBA 7(a) 100% CRE Financing?
June 11, 2015 By Bob Coleman Editor, Market Trends Thursday Coleman Market Trends Thursday I received several thoughtful comments about SBA 7(a) lenders offering 100% financing for commercial real estate acquisition. So, I’m going back to the industry with a quick poll for more information. Please complete this quick one minute, six question poll and…
Read MoreColeman Movers and Shakers Wednesday
June 10, 2015 By Bob Coleman Editor, Movers and Shakers Christopher J. Earle Named SBA Loan Manager Christopher J. Earle has been named SBA Sales Manager for M&T Bank. He will oversee the management of SBA loan programs offered at more than 650 M&T branches offices in multiple states. Earle has more than 40 years…
Read MoreSBA’s LINC is a Wonderful Tool, When You can Sign On
June 10, 2015 By Bob Coleman Editor, C-Suite Small Biz Lending Challenges Report Yesterday I solicited comments about SBA lender’s experience with LINC, the online portal matching applicants with lenders. Nasr Khan, the EVP and manager of Wallis State Bank’s SBA department told me, “I can tell you from my experience it’s a wonderful tool…
Read MoreSBA Hot Topic Tuesday — Are you Linc’d?
June 9, 2015 By Bob Coleman Editor, SBA Hot Topic Tuesday If not, you probably should be. LINC is SBA’s online portal connecting loan applicants with lenders. Applicants fill out basic information — how long in business, amount of loan, revenues — and it is forwarded to lenders that have a footprint in the applicant’s…
Read MoreSome Light Reading from SBA’s Inspector General
June 9, 2015 By Bob Coleman Editor, SBA OIG Report OIG’s April 2015 was posted last Thursday, and it never fails to impress. “What were they thinking?” “What was their exit strategy?” as well as “The bank did what?” are my most common non-vulgar thoughts. Here’s a quick summary, or read the entire report here.…
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