Posts Tagged ‘Main Street’

January 17, 2014 By Bob Coleman Editor, Coleman Report The owner of a Connecticut nonbank lender who provided financing to companies for the purchase of heavy equipment, such as tractor-trailer trucks, dump trucks, backhoes has been sentenced to 29 months in prison. Anchor Capital Services would draw down on the lines of credit it had…

January 15, 2014 By Bob Coleman Editor, Coleman Report NADCO Quick to Support SBA Administrator Nominee We are very pleased to welcome a new Administrator to lead the critical work of the SBA, which has been a lifeline for America’s small businesses in these economically challenging times,” said Beth Solomon, President & CEO of NADCO.…

January 15, 2014 By Bob Coleman Editor, Coleman Report President Obama has chosen a community banker whose niche is the Los Angeles Hispanic community, Maria Contreras-Sweet, as his nominee for SBA Administrator. I’ll defer to this great write-up by Kent Hoover of the Business Journal for her background. She is the co-founder and chair of…

January 15, 2014 by Bob Judge Editor, CPR Report Government Loan Solutions In November, prepays moved slightly higher over October levels, recording the third consecutive month below 8%. However, this month’s reading does represent the 7th month in a row of 7% or higher prepays. While the movement up was similar in percentage terms to…

January 14, 2014 By NADCO Loan Volume Continues to Plummet, Amidst Expiration of Debt Refinancing and Uncertainty of Fed’s Stimulus Reduction WASHINGTON, DC –The National Association of Development Companies (NADCO) Small Business Lending Report (SBLR) showed an overall decrease in volume of this month’s commercial real estate and equipment finance loans to small businesses, reflecting…

January 13, 2014 By Bob Coleman Editor, Coleman Report Missouri based Excel Bank failed in 2012 costing the FDIC $126 million. And since the bank received TARP funds, “having the TARP investigators available to look into the bank fraud cases helped lead to the indictments,” says U.S. Attorney Richard Callahan. Writes St. Louis Today; William…

January 10, 2014 By Bob Coleman Editor, Coleman Report Monday, I wrote about seven fraudsters, six borrowers and one lender who face serious charges from the feds for their malfeasance in SBA lending from the October 2013 monthly SBA Inspector General report. Here are the final four snippets. President of Missouri Construction Company Gets Probation…

January 9, 2014 By Bob Coleman Editor, Coleman Report NADCO Announces Government Relations Conference March 3-5 in Washington DC With leadership changing at the SBA and House and Senate Small Business Committees, attending the NADCO 2014 Government Relations Conference is critical to our industry’s success. This conference is your opportunity to attend exclusive sessions with…

January 8, 2014 By Bob Coleman Editor, Coleman Report We reported SBA will publish a final policy rule this morning rejecting changes in it’s affiliation standard rule and the abolishment of the personal resource test. However, SBA has pulled the rule from publication in the Federal Resister. This is an email we received yesterday from…