Posts Tagged ‘SBA Lending’
SBA Hot Topic Tuesday – New CDC Rules, Goodbye Personal Resources Test
March 25, 2014 By Bob Coleman Editor, Coleman Report SBA’s long awaited rule of eliminating the “Personal Resources Test” has finally been published. Beginning April 21, SBA lenders will no longer be required to complete the formula to determine if a borrower holds more than enough money than a SBA borrower should. This is a…
Read MoreSBA Issues Clarification on Fee Reductions for Loans Under $150,000
March 20, 2014 The purpose of this Notice is to provide additional clarification on the FY2014 reduction in fees for all 7(a) loans of $150,000 or less that was announced on September 24, 2013, in SBA Information Notice 5000-1288. (SBA previously provided clarification in Information Notice 5000-1294 on December 12, 2013.) Based on loan activity…
Read MoreBoeFly Launches Small Business Lending Tool — bQual™
February 26, 2014 By Bob Coleman Editor, Coleman Report “We built bQual to address the questions we’ve heard from some of the thousands of business owners that have used BoeFly since we launched in March of 2010 — “Can I get real-time information and insight before I start the search for financing,” said Mike Rozman,…
Read MoreHow Big is the Small Business Lending Market?
February 26, 2014 By Bob Coleman Editor, Coleman Report $1 trillion says SBA’s Office of Advocacy. This just released two page report is a nice overview of the current state of small business lending. Here are some stats for 2013; Small Business Borrowing from Banks – $585 billion Small Business Borrowing from Finance Companies –…
Read MoreSBA 7(a) Prepayment Rates Fall 10%
February 25, 2014 In December, prepays fell below 7% for the first time since April, finishing the year on a positive note. While we finished 2013 with a print below 7%, this is only the third monthly reading below that benchmark recorded last year. For comparison purposes, all twelve months of 2012 were below 7%.…
Read MoreMug Shot Monday – The You Scratch My Back, I’ll Scratch Yours Con
February 24, 2014 By Bob Coleman Editor, Coleman Report This is a twist on a commercial lender con. The feds allege two Delaware commercial lenders, working for different banks, made loans to each other over a 12-year period for fake commercial real state investments and below market car loans. Brian Bailey plead not guilty last…
Read MoreCome to Washington to Support 504 Debt Refi at the NADCO Government Relations Conference 2014
February 23, 2014 By Bob Coleman Editor, Coleman Report Bob Coleman: NADCO is putting together an event to get to know your representatives and Senators to push 504 debt refi. Tell us about what is going to be happening there. Beth Solomon: The CDC community and our lender partners are showing up in force to…
Read MoreFraud Friday – Loan Officer who Approved Loans Above his Authority Pleads Guilty
February 21, 2014 By Bob Coleman Editor, Coleman Report Another community banker is going to jail. Not for lining his pockets, but for being a sloppy banker. Our perp had a $250,000 loan approval limit. Says the government in the plea agreement filed Wednesday, “Further, to authorize loans, Bank policies and procedures and sound banking…
Read More504 Refinance Support Gains Momentum in House and Senate
February 21, 2014 By Bob Coleman Editor, Coleman Report Bob Coleman: The refinance is in the House, tell us where you see that process. Beth Solomon: We continue to build support for it. It’s a smart bi-partisan mechanism that leaders on both sides of the aisle are embracing. We have a new chairman of the…
Read MoreColeman Thursday’s Movers and Shakers
February 20, 2014 By Bob Coleman Editor, Coleman Report Stephenie Frazier Whitfield Joins SouthCrest Bank as Senior Vice-President of SBA Lending Stephenie is a recognized visionary in small business lending,” says CEO Kenneth Maloy. “The experience she brings to the table will galvanize our efforts to meet the financial needs of businesses in our communities.” Stephenie…
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