Posts Tagged ‘Main Street’
Fraud Friday – Bank President Nets $67,000 in Fraudulent Loans – Loses Job, Faces 30 Years in Prison
October 18, 2013 By Bob Coleman Editor, Coleman Report Reports the Killeen Daily Herald “The former president of a local bank branch could face up to 30 years in prison after pleading guilty to bank fraud. Randall W. Havens was convicted Thursday in federal court in Waco. Havens worked as president of the Killeen branch…
Read MoreColeman Report Thursday’ Movers and Shakers
October 17, 2013 By Bob Coleman Editor, Coleman Report Seacoast Commerce Bank Surpasses $500 Million in SBA Loan Fundings Seacoast Commerce Bank has surpassed $500 million in SBA loan funding since the inception of its SBA lending department four years ago. David Bartram, Chief Operating Officer and SBA Division Manager commented, “We launched the SBA…
Read MoreFast Casual Restaurants Are the New Growth Niche
October 16, 2013 Bob Coleman: We’re talking with Bob Bielinski, CIT, the Managing Director of the restaurant and retail sector. Bob, thank you for joining us. Bob Bielinski: Bob, happy to be here. Thanks for having me. Bob Coleman: Bob, you and I’ve known each other for awhile and your specialty is telling lenders, telling…
Read MoreSBA 7(a) Prepays Rise Above 8%
October 16, 2013 By Bob Judge Editor, CPR Report In August, prepays crested 8% for the first time since July 2010. For August, both defaults and voluntary prepayments rose, pushing overall CPRs to levels not seen since prior to the credit crisis. As for the detail, overall prepayments rose 21.17% to 8.83% from 7.29% in…
Read MoreNumber 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…
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