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Coleman Thursday’s Movers and Shakers – Thanksgiving Edition

November 27, 2013 Bob Coleman Editor Coleman Report Nevada State Development Corporation Promotes Yolie Kelley To Marketing/It Manager “In 2013, business relationships are built on Facebook as often as a handshake,” said Debra Alexandre, president of Nevada State Development Corporation. “Websites, newsletters, and other digital social tools have taken over in modern commerce and you…

Does Small Business Saturday Help Main Street or American Express?

November 26, 2013 By Bob Coleman Editor, Coleman Report I confess, I’ve heard about “Small Business Saturday,” the Saturday after Black Friday, that encourages everyone to shop locally, but haven’t paid too much attention about the coverage. Did you know the day started only three years ago as a marketing campaign by American Express? It’s…

Mug Shot Monday — Community Banker who Aided FBI Gets One Year House Arrest, Five Years Probation

November 25, 2013 By Bob Coleman Editor, Coleman Report In a trial that saw the ex-president of failed Bank of Commonwealth get 23 years for bank fraud, a banker that cooperated with the FBI and testified for the prosecution was sentenced to no jail time. He received a one year house arrest, five years probation…

Fraud Friday – Man with Net Worth of $169 Million Never Makes Payment on $1.5 Million Credit Line

November 22, 2013 By Bob Coleman Editor Coleman Report Well, his personal financial statement said he was worth $169 million. Arkansas-based OneBanc approved a $1.5 million line of credit to to the owner of patents for technology related to a more efficient combustion engine. Says the FBI, “Alberto Solaroli falsified the nature and scope…

SBA 504 Refinance Update

November 22, 2013 by Bob Coleman Editor Coleman Report Watch our special Coleman Report Live! event with Beth Solomon, Executive Director, NADCO http://www.youtube.com/watch?v=1YKN-Lepxbs&feature=youtu.be

Coleman Thursday’s Movers and Shakers

November 21, 2013 by Bob Coleman Editor Coleman Report Kurt Chilcott, Sherrill Stockton Reelected to NAGGL Congratulations to Kurt and Sherrill for their reelection to the NAGGL board of directors, a trade group of SBA 7(a) lendrs. Read about Kurt here Read about Sherrill here First Niagara Names John Kenefick, Senior…

Merchant Cash Advance Lenders – Payday Loans for Small Business?

November 20, 2013 By Bob Coleman Editor, Coleman Report New York Times blogger and friend, Ami Kassar, continues to preach about the perils of high cost merchant cash advance loans. Typically in the $25,000 range, these loans are paid back with daily debit hits to the small business owner’s checking account. With interest rates approaching…

SBA 7(a) Prepays Fall to 7%

November 19, 2013 By Bob Judge Editor, CPR Report In September prepays fell back to 7% after a one month visit above 8%. However, this reading represents the 5th month in a row of 7% or higher prepays. This month saw double-digit percentage decreases in both defaults and voluntary prepayments, leading to a near CPR…

Fraud Friday – Pulaski Bank Victim of $7 Million Fake Lease Scheme

November 15, 2013 By Bob Coleman Editor, Coleman Report Pulaski Bank self reported it has uncovered an elaborate fraud perpetrated against the Bank by one of its commercial loan customers. The customer, who purported to be in the business of leasing equipment, created false documentation to purchase assets that did not exist and that were…

Coleman Thursday’s Movers and Shakers

November 14, 2013 By Bob Coleman Editor, Coleman Report PCFS 2000 Rebrands as PCFS Solutions PCFS 2000 has announced that it changed its name to PCFS Solutions effective November 5, 2013. Bob Cota, President stated “Our new name and company logo reflects our dedication and significant expansion since we began operations in 1986.” “Our goal…