dodd frank | Coleman Report

Equity Investor Assumes an SBA Guaranty Means Everything is Legit with the Business Operator

July 10, 2013 by Bob Coleman Editor, Coleman Report Equity Investor Assumes an SBA Guaranty Means Everything is Legit with the Business Operator Sadly, not for a 73-years-old investor who lost $400,000. The can’t miss investment was for a startup powder coating business. That is the process of coating metal with paint in a powder…

Small Business Lending up 52% in Last 12 Months

July 9, 2013 By Bob Coleman Editor, Coleman Report In a year-to-year comparison, small business lending approvals at big banks are up 52 percent over the figure from June 2012, says the latest Biz2Credit Small Business Lending Index “While approvals dropped slightly at big banks in June, overall small business lending rebounded in the first…

Using Franchise Lending in Your Niche Product Mix

July 9, 2013 By Bob Coleman Editor, Coleman Report Using Franchise Lending in Your Niche Product Mix Historically, SBA guaranteed franchise loans perform better than non-franchise loans. But, as in any niche lending arena knowledge and information is key for a healthy portfolio. To learn more about franchise financing, and six franchise concepts, consider attending…

Mug Shot Monday – SBA Inspector SBA 7(a) Stimulus Loan General Edition

July 8, 2013 SBA’s OIG has released its May 2013 monthly recap. The interesting takeaway is SBA’s Inspector General differentiates between business loans and recovery act loans – the stimulus loans that received a 90% guaranty. Further proof the OIG is paying very close attention to these loans. After all, they got a large, separate…

Preparing the Herndon SBA 7(a) Ten Tab Guaranty Package

Preparing the Herndon SBA 7(a) Ten Tab Guaranty Package Tuesday, July 23rd, 2013 2:00 p.m. to 3:15 p.m. Eastern Price: $289.00 Sponsored by PCFS 2000 Use our “email address only” order form! SBA’s Guaranty Purchase Package. Seems simple enough to put together…but if you don’t do it right, you don’t get the money and it…

SBA Eligibility 101 – An In-depth Review

SBA Eligibility 101 – An In-depth Review Monday, July 29th, 2013 2:00 p.m. to 3:15 p.m. Eastern Price: $289.00 Use our “email address only” order form! The number one reason SBA denies its guaranty payment to a lender is the lender did not correctly determine the borrower’s eligibility for the federal government guaranty. Join Coleman…

Mug Shot Monday – A Twofer – Fraud Against TARP and the SBA

July 8, 2013 By Bob Coleman Editor, Coleman Report A former Georgia bank president and CEO will get 5 ½ years in a fed pen for replacing non-performing bank loans with a SBA loan. Under the “wow, this is too good to be true rule,” Gary Hall has sadly found out refinancing bad conventional bank…

Fraud Friday – Borrower Siphons $40 Million for Private Jet, Private Island, NBA Tickets, Pleads Guilty to Bribing a Bank Officer

July 5, 2013 By Bob Coleman Editor, Coleman Report Guy Mitchell borrowed more than $40 million from the now-failed Florida based Integrity Bank in 2005 and 2006 supposedly to finance his interests in various hotels around the country. One of these loans was to acquire and renovate the Casa Madrona Hotel, a luxury property overlooking…

Best Practices: NEW SBA Change of Ownership Rules

July 3, 2013 By Ethan W. Smith, Partner Starfield & Smith, P.C. On July 1, 2013, SBA released a revision to SOP 50 10 5(E) that revised and clarified SBA’s requirements for financing change of ownership transactions with SBA guaranteed loans. Prior to this revision, SBA had restricted SBA financing for change of ownership transactions…

Spokane Based Sterling Bank Expanding SBA Lending Big Time in California Market

July 3, 2013 By Bob Coleman Editor, Coleman Report After acquiring SBA #1 micro lender, Borrego Springs Bank, Sterling Bank is adding Orange County’s Commerce National Bank to its portfolio. The Biz Journal reports, “Sterling paid $6.5 million to acquire American Heritage Holdings, parent company of Borrego Springs. While the bank was relatively small, with…