Posts Tagged ‘Coleman Report’
Fraud Friday — Pennant Management Closure Attributed to Nik Patel Fraud
May 29, 2015 By Bob Coleman Editor, Fraud Friday The Milwaukee Journal Sentinel reports more fallout from the Nik Patel, $180 million USDA B&I loan fraud. The investment company that purchased the loans from Nik Patel’s company, First Farmers Financial, and sold them primarily to Illinois municipalities as “safe” investments has padlocked its doors. The…
Read MoreDan Demeo, CEO of CAN Capital Headlines LEND360
May 28, 2015 By Bob Coleman Editor, Coleman Small Business Lending Events Calendar Coleman Small Business Lending Events Calendar As CEO of CAN Capital, Dan DeMeo is one of the leading voices for innovation in alternative finance. And LEND360 is bringing them all together. Lenders conducting business in many verticals in consumer and small business…
Read MoreColeman’s Movers and Shakers — Multifunding Adds SVP
May 27, 2015 By Bob Coleman Editor, Coleman’s Movers and Shakers Daniel Krewson Joins MultiFunding as Senior Vice President and Senior Advisor Says MultiFunding’s Ami Kassar, ‘Dan was one of the first lenders I met when we started MultiFunding over five years when he just started at Valley Green Bank. At Valley Green Bank he…
Read MoreYadkin Bank Touts 100% SBA Financing for Attorneys, Architects and CPA CRE Loans
May 28, 2015 By Bob Coleman Editor, SBA Marketing Trends Thursday SBA Marketing Trends Thursday North Carolina-based Yadkin Bank is marketing an 100% SBA 7(a) financing program for white collar commercial real estate loans. Last year, the bank ranked 26th on the Coleman Report 500 approving 111 SBA 7(a) loans totaling $116 million. From the…
Read MoreGo Green to Fund Multiple SBA 504 Loans with the same Borrower
May 26, 2015 By John Rockwell Project Manager, Partner Energy Borrowers that are relocating a business or improving an existing location are able to satisfy Green SBA 504 loan program goals by implementing energy efficiency projects (i.e., LED lighting, high efficiency HVAC, low-flow showers) that save 10% over the previous location’s energy consumption. Borrowers that…
Read MoreFaulty Lender Cash Flow Analysis a Target for SBA 7(a) Loan Guaranty Denials
May 25, 2015 By Bob Coleman Editor, Coleman’s SBA Inspector General Report Coleman’s SBA Inspector General Report Good bye to SBA Stats Tuesday and hello to Coleman’s weekly SBA Inspector General Report. A new weekly column every Tuesday morning devoted to the SBA OIG. For the next couple of reports I am focusing on the…
Read MoreFraud Friday — Borrower Overstates AR on Balance Sheet, Rips off Bank $800k
May 22, 2015 By Bob Coleman Editor, Fraud Friday ‘Steven Moorhouse lied to TARP recipient Old Second National Bank in order obtain more than $1 million in loans for his business, and for his criminal lie, Moorhouse will spend the next 21 months in federal prison,’ says Christy Romero, Special Inspector General for TARP (SIGTARP).…
Read MoreFeedback Friday — SBA Form 159 Signed at Initial Disbursement is Compliant for your Review
May 22, 2015 By Bob Coleman Editor, Feedback Friday A Feedback Friday question to Coleman faculty instructor, Lance Sexton: The Bank is paying a referral fee to the broker but the broker has not signed the 159 compensation form. Do we need this document prior to closing and funding? The broker fee will be paid…
Read MoreColeman Small Business Lending Calendar — Mid America Lender’s Conference 2015
May 21, 2015 By Bob Coleman Editor, Small Business Lending Calendar The 21st Annual Mid-America Lender’s Conference will be held at the Sheraton Dallas Hotel. The Conference will kick off Monday, August 31 at 11:30 with a general session followed by several breakout sessions and then a reception that evening. The specifics are being finalized…
Read MoreColeman C-Suite Small Business Lending Report — Online Small Biz Lenders Float Self-Regulation Proposals
May 21, 2015 by Lisa McGreevy Conference Chair, Lend360 Last week, the American Banker had an extensive story on the possible regulatory headwinds coming to the “alternative” lending space. This article follows on the several others that the American Banker has been writing of late. This is just one more example of what is growing…
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