Posts Tagged ‘dodd frank’

May 30, 2013 By Bob Coleman Editor, Coleman Report If you accept a package from a loan broker that has been suspended or debarred from participating in the SBA loan program, your guaranty is null and void. So, how do you know? Here you can locate entities and individuals who have been suspended and/or debarred,…

May 29, 2013 By: Timothy D’Lauro, Esquire Starfield & Smith P.C. The SBA Statement of Personal History (SBA Form 912) has recently undergone some significant changes. The changes made are significant because they deal with the SBA loan applicant’s criminal history and potentially allow the Lender additional leeway, but also more responsibility, in determining whether…

May 28, 2013 Small business journalist Cat Clifford questions why we still don’t have a nominee for SBA Administrator after Karen Mills resigned last February. She writes; The wait is frustrating to Bob Coleman, editor of the Coleman Report, a SBA-lending industry newsletter. “It’s embarrassing,” Coleman says. “The one issue that is bipartisan in Washington…

May 28, 2013 By Karen McHugh SBA Complete The SBA Loan Authorization is SBA’s written agreement between the SBA and the lender providing the conditions under which SBA will guarantee the loan. SBA is basically establishing the terms and conditions for it’s loan guaranty, and therefore, this document defines what is required to protect the…

May 28, 2013 By Bob Coleman Editor, Coleman Report University of Virginia’s Ed Hess has penned a case study about Leaders Bank, an Illinois community bank as part of the curriculum of a free MBA style course by Coursera. “Grow to Greatness” was a four week class discussing how successful entrepreneurs have grown their business.…

May 24, 2013 By Bob Coleman Editor, Coleman Report Guilty verdicts were reached this morning for four of the five defendants in the Norfolk, Virginia, Bank of Commonwealth fraud trial. From Channel 10, Norfolk; “The jury found former CEO Edward Woodard, Jr. guilty of conspiracy to commit bank fraud, bank fraud, false entry in a…

May 24, 2013 By Bob Coleman Editor, Coleman Report A church deacon, jaycee and Junior Achievement volunteer is set to plead guilty June 4th for ripping off BB&T some $300,000. How? The usual, boring way. Make some fake loans to your customers and deposit the proceeds into the joint account with your wife. The scheme…

May 23, 2013 By Bob Coleman Editor, Coleman Report Entrepreneur’s Cat Clifford has a great piece for small business stat junkies. Here are a few · 13% of U.S. adults are either starting a small business, or are a new small business owner · 16% of first generation immigrants are either starting a small business,…

May 23, 2013 By Bob Coleman Editor, Coleman Report I didn’t get the memo that 50,000 manufacturing jobs came back to the USA between 2010 and 2012, many of them created by American small businesses. AP’s Joyce Rosenberg writes rising overseas labor costs, increased shipping costs and a weaker dollar are the reasons for the…

May 22, 2013 By Bob Coleman Editor, Coleman Report New York Times blogger Ami Kassar has had enough. While admiring small business alternative lenders “speed to market” approach using innovation and technology, he is fed up with interest rates approaching 100%. Calling for self regulation Ami writes “I do think there is a place for…