Posts Tagged ‘Main Street’

April 19, 2013 By Bob Coleman Editor, Coleman Report New York Time Small Business Journalist Robb Mandelbaum has written an excellent recap of agency’s push to help lenders’ make loans less than $150,000. The percentage of SBA 7(a) loans less than $150,000 has dipped to 9% of the program, off the 24% peak in 2007.…

April 19, 2013 By Bob Coleman Editor, Coleman Report The trial of five former community bankers continues in Virginia, where the federal prosecutors’ main witnesses are two borrowers who were lent $40 million from the Bank of Commonwealth. This week’s highlights: Co-defendant, real estate developer, Dwight Etheridge, had a groundbreaking ceremony for a five-story office…

April 18, 2013 By Jon Winick Clark St. Capital According to the Federal Reserve Beige Book, there is increasingly positive economic activity. The survey described steady to rising loan demand in most districts. Loan demand was steady to slightly up at most District Banks that commented on lending. The Philadelphia District, however, said loan volumes…

April 18, 2013 By Bob Coleman Editor, Coleman Report SEC Seized SBA Lender Update of Mark Feather’s Small Business Capital It’s been almost a year since the SEC seized Northern California SBA lender Small Business Capital. During that time the court-appointed receiver has been winding the operations of the firm previously owned by Mark Feathers.…

April 17, 2013 By Bob Coleman Editor, Coleman Report New Jersey community bank president Frank Sorrentino has an interesting blog post at Forbes.com where he challenges small owners to be positioned to take advantage of an economic recovery. Main Street must shed their “wait and see” mode, and take action now. His advice? 1) Talk…

April 17, 2013 Says the Thomson Reuters/PayNet Small Business Lending Index, “Perhaps more telling are early signs that financial stress is building. “Trucking companies, whose behavior historically has led that of other small businesses, are having more trouble paying back their loans. “Delinquencies of 31 to 180 days among transportation service and warehouses companies rose…

April 16, 2013 By Bob Coleman Editor, Coleman Report Bitcoin, the virtual currency has been in the news recently has a new alternative currency. Here is how four entrepreneurs use bitcoin. 1) One accepts bitcoin due to speed. No waiting one or two days for Paypal or credit card deposits. 2) A BBQ restauranteur mines…

April 16, 2013 Bob Coleman: We’re with Azim Saju and Rocky Pintozzi at the Choice Owners Council in Phoenix, Arizona. Gentlemen, thank you for inviting me; wonderful day. Financing is key for your members. What is the main take away that the attendees are going to take with them back to their locations? Azim Saju:…

April 15, 2013 By Bob Coleman Editor, Coleman Report I’ve written about the threat Amazon poses to Main Street with its plans for same-day product delivery. Today’s entrepreneur faces continuing challenges on many fronts to survive. Amazon is just one. However, Main Street can compete with Amazon, as along as the entrepreneur clearly understands the…

SBA Remarks on the President’s Fiscal Year 2014 Budget Small Business Lending and Investment Summit Capitol Hill, Washington D.C. April 10, 2013 By Bob Coleman Editor, Coleman Report SBA Associate Administrator Jeanne Hulit announced President Obama’s year end 2014 budget for the 7(a) loan program at $17.5 Billion and the 504 loan program at $6.5 Billion. The…