SBA Proposes Only Jailed Criminals Ineligible for SBA Loans
Currently for the 7(a) and 504 business loan programs, SBA considers an applicant ineligible if the business has an Associate who is incarcerated, on probation, on parole, or is under indictment for a...
View ArticleCalifornia Small Business Lending Report
Want to read more? The post California Small Business Lending Report first appeared on Coleman Report.
View ArticleSBA’s Do What you Do Rule Updated for Start of SBA’s FY24 Compliance and...
A SOP 5010 released on a dare from the House Small Business Committee last May was quickly followed by Congressional and industry criticism. SBA appeared to backtrack and promised to consider revisions...
View ArticleFraud Friday – Software Development CEO Sentenced for PPP Fraud & Failure to...
September 22, 2023 Delaney SextonContributing Editor Fraud Friday – Software Development CEO Sentenced for PPP Fraud & Failure to Pay Employment Taxes A CEO of multiple software development and IT...
View ArticleMovers & Shakers Monday – Kaley Lilley and Jesse Bro
September 25, 2023 Delaney SextonContributing Editor Movers & Shakers Monday – Kaley Lilley and Jesse Bro PlainsCapital Bank Welcomes Kaley Lilley as SVP, Commercial Loan Officer “Since starting...
View ArticleFraud Friday – House Committee Meets with Private Sector to Discuss Returning...
September 28, 2023 Delaney SextonContributing Editor Fraud Friday – House Committee Meets with Private Sector to Discuss Returning Pandemic Loan Fraud Funds “When the pandemic started, the SBA took on...
View ArticleMovers & Shakers Monday – Richard Allen, Timothy Tunney, and...
October 2, 2023 Delaney SextonContributing Editor Movers & Shakers Monday – Richard Allen, Timothy Tunney, and HilltopSecurities Team Franklin Savings Bank Promotes Richard Allen to VP, Senior...
View ArticleColeman Report – Fiscal Year 2023 Ends With $34 Billion Reaching Small...
October 4, 2023 Delaney SextonContributing Editor Coleman Report – Fiscal Year 2023 Ends With $34 Billion Reaching Small Businesses During fiscal year 2023, more than 63,000 small business loans were...
View ArticleFraud Friday – OIG Advises Against Ending Collections on EIDLs $100,000 or Less
October 6, 2023 Delaney SextonContributing Editor Fraud Friday – OIG Advises Against Ending Collections on EIDLs $100,000 or Less The Office of Inspector General issued a management advisory...
View ArticleSBA Cleans Up the Paperwork and Sunsets the Community Advantage Pilot Program...
SBA Cleans Up the Paperwork and Sunsets the Community Advantage Pilot Program – Grants SBLCs to All After 11 years. SBA closes out the “temporary” community advantage program and makes it permanent. As...
View ArticleThe Huntington National Bank is the Largest SBA 7(a) by # of Loans in FY 23
$1.3 Billion, 7,300 SBA loans, 6 years in a row “We’ve purposefully taken the opportunity to grow our SBA program within our footprint and nationwide,” says Maggie Ference, Huntington’s SBA Director....
View ArticleSailor Gets 18 Months in Jail for $1 Million PPP Loan Fraud
“Mark Haley exploited a worldwide epidemic to enrich himself through fraud,” says U.S. Attorney Darcie N. McElwee. “This was a prolonged and opportunistic scheme motivated by sheer greed that only...
View ArticleNew SBA 504 Debt Refinance Rules as of November 13, 2023
Maximum Loan is $90,000 per Employee Highlights published in the October 12, 2023 Federal Register A loan that is subject to a guarantee by a Federal agency or department may be refinanced under the...
View ArticlePPP Loan Criminal Gets 42 Months for $500K Fraud, Co-Defendant Guilty of...
“[Tamika Cross] submitted false documents certifying a number of employees and payroll for a business that had neither. She collected PPP loan proceeds based on lies and helped others do likewise,”...
View ArticleFraud Friday – 40+ Broward Sheriff’s Office Employees in the Hot Seat,...
October 13, 2023 Delaney SextonContributing Editor Fraud Friday – 40+ Broward Sheriff’s Office Employees in the Hot Seat, Accused of PPP Fraud This week, the Broward Sheriff’s Office (BSO) in Florida...
View ArticleCalifornia SBA 7(a) Lenders FY 2023
RANK Lender # SBA 7(a) Loans Approved $ SBA 7(a) Loans Amount Approved Average Loan Size 1 Live Oak Banking Company (NC) 153 $221,482,600 $1,447,599 2 U.S. Bank, National Association (OH) 695...
View ArticleNADCO 2023 Third Party Lender Awards
Bank Five NineCommunity Bank 504 Lender of the YearAwarded to the most active 504 bank partner with less than $10 billion in assets Zions BankRegional Bank 504 Lender Of The YearAwarded to the most...
View ArticleSenate Votes to Overturn CFPB Small Business Loan Data Collection Bill —...
Mr. KENNEDY. Mr. President, the Consumer Financial Protection Bureau—we call it the CFPB—has struck again. It has made another bad decision—this by an Agency that has become famous for bad decisions....
View ArticleAlaska SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Alaska Growth Capital BIDCO, Inc. (AK) 15 $15,304,100 $1,020,273 2 Northrim Bank (AK) 14 $11,321,000 $808,643 3 Readycap Lending, LLC (NJ) 2 $5,591,000...
View ArticleNEW SOP 50 10 7.1 to be announced on Tuesday’s (10/24) 7(a) Connect Quarterly...
Join the SBA this coming Tuesday, Oct. 24th at 3:00 Eastern for a 7(a) Connect Quarterly Update announcing the publication of SOP 50 10 7.1. Use this link to log into the call at 3:00 Eastern on...
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