Posts Tagged ‘dodd frank’
Number of Small Businesses Changing Hands Rises
October 14, 2013 By Scottt Suttell Crain’s Cleveland Business Citing a report from BizBuySell.com,1,685 small business transactions were closed nationwide in the third quarter, a 42% increase from 1,189 in the third quarter of 2012. BizBuySell is an online marketplace designed to facilitate small business sales. “In 2013, it appears that the (market) conditions are…
Read MoreMug Shot Monday — “Credit Line Millionaire” Pleads Guilty to Bank Fraud
October 14, 2013 By Bob Coleman Editor, Coleman Report A seminar hustler who promised easy money to Main Street has pled guilty to bank fraud. “Discover how to get $100k to $1 Million in business lines of credit,” screams the top banner on his website. http://www.creditlinemillionaire.com/ A tracking thermometer brags $7.5 million has been acquired…
Read MoreFraud Friday — Community Bank VP Indicted for Approving Loans to Unqualified Borrowers
October 11, 2013 By Bob Coleman Editor, Coleman Report Reads the indictment, “….repeatedly approved loans for a number of individuals and related business entities, in violation of the Bank’s policies and procedures, and contrary to sound lending practices.” A West Virginia small business banker did the following says a Grand Jury; a) Approved loans to…
Read MoreHow to Analyze Borrower Projections to Ensure a Valid SBA Guaranty
How to Analyze Borrower Projections to Ensure a Valid SBA Guaranty When: Tuesday, November 12, 2013 Price: $289.00 2:00 p.m. to 3:15 p.m. Eastern 1:00 p.m. to 2:15 p.m. Central 12:00 p.m. to 1:15 p.m. Mountain 11:00 a.m. to 12:15 p.m. Pacific Complimentary Coleman Report Live! News Show with Bob Coleman from 1:50 p.m. to…
Read MoreSBA Personal History Revised Procedures
October 11, 2013 By Karen McHugh SBA Complete As we all are aware now, SBA just recently released the newest version of the SOP 50 10 5 (F), effective January 1, 2014. Even though the new rules don’t become effective for another few months, now is the time to review, interpret, and commit them to…
Read MoreThursday’s Movers And Shakers
October 10, 2013 By Bob Coleman Editor, Coleman Report Kurt Chilcott Awarded Lifetime Achievement Award For Small Business Economic Development Kurt Chilcott, President and CEO of CDC Small Business Finance, the nation’s largest 504 lender, was awarded the 2013 Lifetime Achievement Award for Excellence in Economic Development in Honor of Edward deLuca by the International…
Read MoreBankrupt Borrower Files False Claims Act Lawsuit against Lending Bank for SBA 504 Loan Loss
October 4, 2013 By Bob Coleman Editor, Coleman Report A hotel owner who received a SBA 504 loan is suing the bank as a whistle blower under the Federal False Claims Act. The borrower says the bank made false statements to SBA when it certified there were no material changes in the borrower’s financial condition…
Read MoreSOP 50 10 5 (F) – Collateral Requirement Changes
October 4, 2013 By Karen McHugh As we all are aware now, SBA just recently released the newest version of the SOP 50 10 5 (F), effective January 1, 2014. Even though the new rules don’t become effective for another few months, now is the time to review, interpret, and commit it to memory. There…
Read MoreSBA Contingency Plan for Governement Shutdown
September 30, 2013 SBA’s Contingency Plan for Governement Shutdown If Congress and the President are not able to reach an eleventh hour agreement to fund the government, only SBA’s Inspector General audit team and the disaster loan programs will continue to operate as business as usual. If the following SBA programs are interrupted, that will…
Read MoreThursday’s Movers and Shakers
September 26, 2013 By Bob Coleman Editor, Coleman Report Capital Access Network Appoints GE Capital Veteran As Its New CFO Capital Access Network, Inc. (CAN), the largest and most-experienced small business finance specialist, has appointed GE Capital Veteran Shiladitya (“Shila”) Ray as the company’s new Chief Financial Officer. Ray succeeds former CFO Daniel DeMeo, who…
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