The New SBA 504 Loan Refinance Rules
On October 12, 2023, the Federal Register revealed that SBA is making changes that were created in the interim final rule published on July 29, 2021, permanent. This modifies requirements for...
View ArticleFraud Friday – PPP & EIDL Fraudster Used Proceeds to Purchase a Restaurant in...
October 20, 2023 Delaney SextonContributing Editor Fraud Friday – PPP & EIDL Fraudster Used Proceeds to Purchase a Restaurant in Egypt Ahmed Sary pleaded guilty to conspiracy to commit wire fraud...
View ArticleHouse Small Business Committee Wants SBA to Collect COVID Loans Less than $100k
Says Chair Roger Williams, “The COVID-19 pandemic broke the SBA. The agency failed to detect upwards of $200 billion in potential fraud in their lending programs and now has decided to end active...
View ArticleTexas SBA 7(a) Lender Rankings for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 121 $207,203,900 $1,712,429 2 Wallis Bank (TX) 80 $138,772,200 $1,734,653 3 The Huntington National Bank (OH) 388...
View ArticleThe 16th Annual SBA Secondary Market Summit; Washington D.C. — December 7th,...
We’re Back! Believe it or not it’s been four years since we last met in DC — December 2019 before all the craziness. Dramatic changes abound, but the old guard remains. Bob Judge will bring his decades...
View ArticleFormer Florida State Rep Jailed 4 Months for EIDL Loan Fraud
Joe Harding of Williston, Florida, was sentenced for wire fraud, money laundering, and making false statements in the name of a dormant business. Joe was elected and took office November 8, 2022. He...
View ArticleFormer Pacific Premier Bank SBA Savvy Execs Startup New California Bank —...
One of the new banks approved by the FDIC in 2023 has opened its doors. The former president of Security Bank and SR. VP of Pacific Premier Bank has anew gig — President & CEO of newly formed ICON...
View ArticleAlabama SBA 7(a) Lender Ranking for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 22 $35,021,500 $1,591,886 2 Synovus Bank (GA) 9 $20,736,400 $2,304,044 3 Newtek Small Business Finance, Inc. (NY) 12...
View ArticleSBA 5010 7.1 Effective November 15, 2023
Download a PDF Copy of the SOP 5010 7.1 here Summary of Changes SECTION A: CORE REQUIREMENTS FOR ALL 7(A) AND 504 LOANS The chapters listed below have received updated titles. Chapter 1: Primary...
View ArticleThe 50+ Technical Corrections You Must Know in the New SOP 5010 7.1 (Webinar...
A Coleman WebinarWednesday, November 8, 20232:00 pm Eastern 75-minute training with e-certificationRegister Your Entire Staff for One Fee Online Here The Technical Corrections Issued by SBA Join award...
View ArticleSBA Grants 143 Community Advantage Lenders SBLC License
What is the Community Advantage Loan Program? Maximum Loan is $350,000 Guaranty — 85% for loans up to $150,000, 75% for loans greater than $150,000, and 90% for International Trade loans Who can be a...
View ArticleArkansas SBA 7(a) Lender Ranking for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 First Financial Bank (AR) 27 $35,579,800 $1,317,770 2 First Service Bank (AR) 21 $18,685,800 $889,800 3 Live Oak Banking Company (NC) 6 $13,790,800...
View ArticleArizona SBA 7(a) Lenders Ranking for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 41 $74,710,000 $1,822,195 2 Celtic Bank Corporation (UT) 32 $32,604,400 $1,018,888 3 St. Louis Bank (MO) 14 $26,154,000...
View ArticleMaryland SSBCI Funds 27 Businesses – 1,300 Jobs in FY23
Maryland’s SSBCI has committed more than $33 million to 27 applicants operating in historically underserved communities. Launched in August 2022, SSBCI created a partnership between three state...
View ArticleEllis Carr of Momentus Capital Named to Power 100 List in Washington D.C. Region
“We assembled our annual Power 100 list of the most influential business leaders with the pending revival of Greater Washington top of mind. Who has the courage to stand up and discuss our problems...
View ArticleFraud Friday – “Jekyll and Hyde” Former Bank VP & Loan Officer Sentenced to...
October 27, 2023 Delaney SextonContributing Editor Fraud Friday – “Jekyll and Hyde” Former Bank VP & Loan Officer Sentenced to 12 Years “For more than half a decade, Richard Pigg abused his...
View ArticleColorado SBA 7(a) Lenders Ranking for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Live Oak Banking Company (NC) 58 $93,750,500 $1,616,388 2 The Huntington National Bank (OH) 227 $54,302,600 $239,219 3 Hanmi Bank (CA) 37 $33,107,000...
View ArticleConnecticut SBA 7(a) Lender Ranking for FY 2023
RANK Lender # Loans $ Amount Average Loan Size 1 Webster Bank National Association (CT) 117 $45,010,800 $384,708 2 Live Oak Banking Company (NC) 17 $32,047,000 $1,885,118 3 Celtic Bank Corporation (UT)...
View ArticleTexas Court Pauses CFPB Small Business Data Collection Rule
Implementation of the CFPB Small Business Lending Rule has been stopped by a Texas Federal District Court. The CFPB wants lenders to collect data about small business loan applicants and borrowers...
View ArticleColeman’s SBA 7(a) Servicing and Liquidation Report
Essential Information to Safeguard the SBA 7(a) Loan Guaranty Coleman’s SBA 7(a) Servicing & Liquidation Report is the only industry report for SBA servicing and liquidation professionals. Our...
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