Posts Tagged ‘Coleman Report’

September 6, 2013 By Bob Coleman Editor, Coleman Report Our periodic reporting of the Greely, Colorado failed New Frontier Bank keeps getting more and more bizarre. In a FDIC lawsuit against the bank’s insurer the rhetoric has ratcheted up to the p word describing a $50 million fraudulent loan scheme. Says the FDIC, “This action…

September 5, 2013 By Bob Coleman Editor, Coleman Report Pacific Premier Bank Now Offers Nationwide SBA Lending Pacific Premier Bank now offers SBA loan programs on a nationwide basis through its Premier Government Guaranteed Lending business unit. Diane Heyden, Senior Vice President and Government Guaranteed Lending Manager stated, “As an SBA National Preferred Lender, we…

September 4, 2013 By Bob Coleman Editor, Coleman Report Starfield & Smith’s Norman Greenspan has penned a fascinating article describing the process SBA undertakes to suspend or debar someone from its lending programs. The takeaway? If SBA wants you out of its programs, the agency has the tools at its disposal to get you out.…

September 3, 2013 By Bob Coleman Editor, Coleman Report Several things pop out to me in this New York Post Subway article, and they are all bad from a small business loan underwriting and portfolio risk management standpoint. 1) Subway is buying market share at the expense of its bottom line with their $4 and…

August 30, 2013 By Bob Coleman Editor, Coleman Report Fraud Friday – TARP Funds Diverted to Buy a Florida Condo Results in Guilty Plea The DOJ has snared another community banker for malfeasance in TARP funds. The former Board Chairman pled guilty for misleading the feds about his use of $381,000 in bank bailout funds…

August 29, 2013 By Bob Coleman Editor, Coleman Report The Community Bank Named Great Lakes SBA Community Lender of the Year The SBA Community Lender of the Year Award is presented to a community bank with the best overall performance among community lenders with assets under $1 billion out of the three SBA district states…

August 28, 2013 By: Janet M. Dery, Esquire Starfield & Smith, P.C. Tax lien and judgment searches assist lenders when they analyze their borrowers’ collateral and evaluate their character. The search should be made on the borrowing entity, its principals and, often times, on any guarantors (especially if the lender is lending to the guarantors…

August 23, 2013 By Bob Coleman Editor, Coleman Report Fraud Friday – Federal Judge Rules SBA Non-bank Lender Small Business Capital was a Ponzi Scheme Mark Feathers’ Small Business Capital ran a three-year, $42 million Ponzi scheme that defrauded investors while paying the firm’s manager substantial bonuses, a federal judge ruled this week. The summary…