Posts Tagged ‘dodd frank’
Ten Expenses your Restaurant Borrowers can Cut
July 2, 2013 By Bob Coleman Editor, Coleman Report I ran across this interesting article on ten expense items restaurant owners should be all over. Bring some of them up next time you talk to your restaurant customers. 1) Menu Streamlining 2) Develop and have Operating Standards 3) Alternative Energy Sources 4) Rethinking Layout and…
Read MoreMark Feathers Disputes SEC Forensic Accounting Report about Small Business Capital
July 2, 2013 By Bob Coleman Editor, Coleman Report One year ago, the SEC seized Mark Feather’s Small Business Capital, a nonbank SBA lender. The SEC called SBC a “ponzi-like” scheme and said investor payments could only be made from new investor capital. During the past year, Feathers has contested the SEC action, going so…
Read MoreDebt vs Equity – Are you a Moron?
July 1, 2013 By Bob Coleman Editor, The Coleman Report Anybody who starts a business with borrowed money is “a moron.” So says Mark Cuban. And New York Times blogger Ami Kassar doesn’t like the characterization. Ami writes, “There are three ways to finance the start of a company: one is by giving away equity,…
Read MoreSmall Business Capital Investor Losses Total $13 Million
July 1, 2013 By Bob Coleman Editor, Coleman Report One year after seizure by the SEC, the SEC receiver has calculated the losses to investor to exceed $13 million in the “Ponzi-like scheme,” perpetrated by SBA non bank lender Small Business Capital. The most damning stat is SBC earned $4 million in profits, but paid…
Read MoreFraud Friday – Virginia Lawyer Gets 15 Years for SBA Loan Fraud
June 28, 2013 By Bob Coleman Editor, Coleman Report The fallout of one of the largest SBA loan fraud schemes continues with the lawyer and mastermind getting 15 years and eight months in federal prison for his role in a 17 lender, 124 loan, $100 million fraud. Between 2003 and 2011 Joon Park and his…
Read MoreWhy Care about Foursquare?
June 28, 2013 By Bob Coleman Editor, Coleman Report Because it’s a simple, free, quick way to track your customer’s success, or lack thereof. You don’t need to be on Foursquare, Facebook, etc… but if your customers are there… you should be able to “check in” and see what the community thinks. “Check” out this…
Read MoreTwo for the Price of One
June 27, 2013 By Bob Coleman Editor, Coleman Report There are two takeaway’s in this afternoon’s Coleman Report. First, this is an example of how the CEO and Founder of Worthington National Bank uses a Twitter inteview for a branding and marketing exercise. The second takeaway is the content itself. Check out these tweets. SmallBizLady:…
Read MoreHow to Underwrite Loans to Convenience Stores and Not Wind up in the Tank
How to Underwrite Loans to Convenience Stores and Not Wind up in the Tank Tuesday, July 30th, 2013 2:00 p.m. to 3:15 p.m. Eastern Price: $289.00 Use our “email address only” order form! According to the National Association of Convenience Stores (NACS), the number of convenience stores has grown from 71,400 stores in 1982 to…
Read MoreSBA Lender Liability During an Offer in Compromise
June 27, 2013 By Bob Coleman Editor, Coleman Report Ethan Smith joined us during our webinar on negotiating the Offer in Compromise and discussed how important lender liability is in submitting an offer to the federal government. Here are his insightful statements. “As the lender, you have a liability to the federal government as a…
Read MoreBest Practices: Workout of an SBA Loan
June 26, 2013 By Bart Blechschmidt, Esquire Starfield & Smith, P.C. The term workout as defined in the SOP 50 57 is “the debt collection and negotiation process as well as the final plan agreed upon by a creditor and debtor with regard to how the problems and issues surrounding the debtor’s delinquent obligation to…
Read More