Posts Tagged ‘Main Street’
The Ice is Beginning to Melt in The Small Business Lending Freeze
June 3, 2013 By Bob Coleman Editor, Coleman Report Says Washington Post’s small business journalist J.D. Harrison. He cites several reports that small business lending is increasing. Coupled with a few surveys showing better financial health for Main Street, the trend is indeed positive. And, he throws in a regional observation from Moody’s that credit…
Read MoreSmall Business Week Events, June 17-21
June 3, 2013 By Bob Coleman Editor, Coleman Report National Small Business Week is spread out among five cities this year – Seattle (6/17), Dallas (6/18), St. Louis (6/19), Pittsburgh (6/20) and Washington DC (6/21). Go here for your free registration in the regional cities. There is a charge for the DC event. http://www.sba.gov/nsbw/ You…
Read MoreLearn and Network at these Summer Regional SBA Lender Conferences
May 31, 2013 By Bob Coleman Editor, Coleman Report Work your network of peers, learn the best practices of our industry, and make yourself more valuable to your employer by attending a regional SBA lending conference this summer. I have found the Region VI’s Mid-America lender’s conference is the best regional conference out there. Where…
Read MoreWe Love Small Business Stats
May 31, 2013 By Bob Coleman Editor, Coleman Report Courtesy of Bank of America’s just released Small Biz Spring 2013 report. Small business owners: Have enough access to capital – 67% Who will apply for a loan in 2013 – 19% How small business owners would use funding from loans: Invest in new equipment –…
Read MoreUse a Debarred Loan Broker, Lose Your Guaranty
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,…
Read MoreChanges to SBA Form 912
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…
Read MoreAlmost Four Months Later and Still no SBA Administrator
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…
Read MoreSBA Loan Authorization = LEAD Document
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…
Read MoreThe True Cost of Business Development Officer Turnover
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.…
Read MoreFraud Friday II – Verdict Just In — Bank of Commonwealth Execs Guilty of Fraud after Two Month Trial
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…
Read More