Posts Tagged ‘SBA Lending’
Best Practices in Preparing the SBA 7(a) GP Loan Package March 19, 2013
Best Practices in Preparing the SBA 7(a) GP Loan Package Doing it Right to get a Quick Approval from Citrus Heights Tuesday, March 19, 2013 2:00 p.m. to 3:15 p.m. Eastern Price: $289.00 Complimentary Coleman Report News with Bob Coleman starts at 1:50 p.m. Eastern Use our “email address only” order form! Making SBA loans…
Read MoreAverage Age of Successful Founders – 39 to 41
February 27, 2013 By Bob Coleman Editor Coleman Report This is not your Father’s retirement. Almost half of all Baby Boomers consider themselves entrepreneurial and comfortable with high risk. That’s double the 28% of millenials. And the average age of entrepreneurs continues to rise, with the largest growth in the 55 to 64 year old…
Read MoreWhy SBA Wants to Eliminate the “Personal Resource Test”
February 27, 2013 By Bob Coleman Editor Coleman Report One of the four proposed SBA rule changes is to eliminate the Personal Resource Test for SBA 7(a) and 504 loans. The Personal Resource Test requires the lender to certify the borrower does not have excess liquid assets that should be committed to the business. So why…
Read MoreColeman’s Fresno SBA Loan Servicing Workshop
Coleman’s Fresno SBA Loan Servicing Workshop Wednesday, October 9, 2013 6:00 p.m to 9:00 p.m (Reception and Dinner) Thursday, October 10, 2013 8:30 a.m. to 4:00 p.m. The Downtown Club 2120 Kern St. Fresno, CA 93721 November 14-15, 2012 Sponsored by PCFS 2000 SBA Fresno Public Tour Reservation (Elisa Mendoza at (800) 347-0922 x 2758)…
Read MoreThe Official SBA Statement on Proposed Changes to the 7(a) and 504 Loan Program
February 26, 2013 Here is SBA’s take on its proposed changes. Among the proposed changes are: Eliminating the Personal Resource Test: A borrower will no longer be required to obtain a maximum level of personal finance resources for a 7(a) or 504 loan. This will streamline the loan process by eliminating complicated regulations used to…
Read MoreSBA Administrator Mills – “SBA Needs to be more Ubiquitous”
February 26, 2013 By Bob Coleman Editor Coleman Report Bloomberg’s John Tozzi got this great quote from outgoing SBA Administrator Karen Mills. “One of the most important things we hear is the SBA needs to be ubiquitous. We do all these things, but people still don’t know.” This is her advice to a yet unnamed…
Read MoreWho Should Be the Next SBA Administrator?
February 25, 2013 What new qualities would describe someone best suited to be the new SBA Administrator? The Shreveport Times’ Rhonda Abrams provides an excellent list of career experiences and job mandates that would make President Obama’s next appointee best suited to represent the small business sector before our federal government. Her list may be…
Read MoreSignificant Changes Coming to SBA 7(a) and 504 Loans, CDC Operations
February 22, 2013 by Bob Coleman Editor Coleman Report On Monday, SBA will propose historical changes to its lending programs. The 57-page Federal Register notice is seeking comment on a number of proposals to streamline the programs and eliminate unneeded paperwork and rules. We will cover the proposals in depth in the coming weeks, but…
Read MoreFraud Friday — Iran Sentences 4 to Death in Biggest Bank Fraud
February 22, 2013 by Bob Coleman Editor, Coleman Report From Iranian state media owned television “Four people were sentenced to death on charges of corruption on earth and disrupting the country’s economic system,” Iran’s Judiciary spokesman Gholam-Hossein Mohseni-Ejei told reporters on Monday. “The president of Bank Melli branch in Kish was slapped with life imprisonment…
Read MoreBank of the West SBA Lending Niche a Winning Strategy
February 21, 2013 By Bob Coleman Editor, Coleman Report Texas based Bank of the West make a strategic decision to focus on SBA lending to Main Street when it opened in 1986. The bank’s average SBA 7(a) loan size if just over $500,000 and it services a portfolio of almost $50 million. The future outlook…
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