Posts Tagged ‘small business loan’
Mug 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…
Read More15% of Small Business’s Bankable says WSJ’s Ami Kassar
February 18, 2014 By Bob Coleman Editor, Coleman Report Writes our friend Ami in the Wall Street Journal, “A small percentage of small-business owners are bankable either with an SBA loan or a traditional bank loan. From the population of small-business owners that we work with at our loan brokerage, this group is about 15%.…
Read MoreFraud Friday – Father & Son Plead Guilty in $1.7 Million USDA B&I Loan Fraud
February 14, 2014 By Bob Coleman Editor, Coleman Report A lender relying on a contractor’s certification of completion, disbursed $1.7 million to a father/son team, who coolly pocketed about $1.3 million for non-existent work. Dad was president and the son was CFO of a company that purchased a manufacturing facility out of bankruptcy. (Oh, and…
Read MoreColeman Thursday’s Movers and Shakers
February 13, 2014 By Bob Coleman Editor, Coleman Report Deborah Possick Herron Joins GA Resource Capital “Deborah will certainly be an asset to GA Resource Capital as she has over 20 years of direct lending experience to small business owners with a primary emphasis on SBA 504 loans, commercial real estate and C&I lending. We…
Read More“This is Not Your Grandfathers SBA” — Senate Confirmation Hearing of SBA Administrator Nominee Maria Contreras-Sweet
February 12, 2014 By Bob Coleman Editor, Coleman Report Playing off SBA Administrator Phil Lader’s quote 20 years ago that “This is not your Father’s SBA,” Maria Contreras-Sweet emphasized the point in her Senate Confirmation hearing today that SBA continues to evolve its programs to support Main Street. And she wants to be part of…
Read MoreView Maria Contreras-Sweet’s Confirmation Hearing as SBA Administrator at 10:30 a.m. Eastern
February 12, 2014 By Bob Coleman Editor, Coleman Report The Committee on Small Business and Entrepreneurship will hold the Nomination Hearing for Maria Contreras-Sweet, who has been nominated by President Obama for the position of Administrator at the Small Business Administration, today at 10:30 a.m. Eastern. View the hearing live here Writes Kent Hoover, “The…
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