Former SBA Administrator Hector Barreto Sentenced to 20 Months in Prison for...
January 12, 2024 Delaney SextonContributing Editor Fraud Friday – Former SBA Administrator Barreto Sentenced to 20 Months in Prison For Embezzlement Fraud of Underprivileged Youth Programs “You all...
View ArticleColeman Report Live! January 19, 2024 — Fraud Friday
Host: Bob Coleman, Owner/Editor, Coleman ReportCo-Host: Lance Sexton, Contributor, Fountainhead CCGuest: Delaney Sexton, Editor, Coleman Report Watch on Microsoft Teams Watch on YouTube The post...
View ArticleSBA Office of Advocacy Reports Weak Small Business Loan Supply and Demand
In the last year and a half, bankers have been reporting tightened credit standards and weaker demand for C&I (commercial and industrial) and CRE (commercial real estate) loans. The SBA Office of...
View ArticleDonation to Support Underprivileged Youths Used for Hector Barreto Personal...
Dr. Rapier’s first installment of a $1.35 million donation to the Latino Coalition Foundation (LCF) was $250,000. This money was intended to develop an apprenticeship program to provide training to...
View ArticleSecond Rapier Donation of $350,000 Paid for Hector Barreto’s Personal Expenses
The second installment of Dr. Rapier’s donation was larger than the last. The Latino Coalition Foundation received $350,000 for a youth apprenticeship program. Once again, the account was dwindling...
View ArticleCorrectly Preparing SBA’s New FY 24 Universal Guaranty Purchase Package –...
SBA’s All New Universal Purchase Package for SBA 7(a) Loans, SBA 7(a) Small Loans Less than $500k and SBAExpress Attend the Live Webinar EventThursday, January 25, 20242:00 PM Eastern75-minute training...
View ArticleFraud Friday – Business Owner with 16 Previous Convictions Sentenced for PPP...
January 19, 2024 Delaney SextonContributing Editor Fraud Friday – Business Owner with 16 Previous Convictions Sentenced for PPP & EIDL Fraud Justin Eugene Dowie will be adding another conviction to...
View ArticleColeman Report Live! January 22, 2024 — Main Street Monday @ 1pm EST
Host: Bob Coleman, Owner/Editor, Coleman ReportCo-Host: Lance Sexton, Contributor, Fountainhead CC Watch on YouTube The post Coleman Report Live! January 22, 2024 — Main Street Monday @ 1pm EST first...
View ArticleReadycap and KeyBank Top Washington SBA 7(a) FY23 Rankings
RANK Lender # Loans $ Amount Average Loan Size 1 Readycap Lending, LLC (NJ) 39 $63,510,900 $1,628,485 2 KeyBank National Association (OH) 161 $50,169,100 $311,609 3 Umpqua Bank (CA) 108 $43,899,400...
View ArticleNewtek’s Loan Pools of Unguaranteed Portion of SBA 7(a) Loans Receive...
Barry Sloane, Chairman, President and Chief Executive Officer says, “We are pleased that S&P Global Ratings has upgraded their investment-grade ratings on two of the Company’s most seasoned...
View ArticleFirst Business Bank Promotes Mike Groth to Vice President, SBA Lending
Mike Groth joined First Business Bank in 2018 as an SBA Portfolio Manager and has more than 15 years of banking experience. Mike grew up in Wisconsin and earned a bachelor’s degree in Economics and an...
View ArticleColeman Report Live! January 26, 2024 — Fraud Friday @ 1pm EST
Host: Bob Coleman, Owner/Editor, Coleman ReportCo-Host: Lance Sexton, Contributor, Fountainhead CCGuests: Delaney Sexton, Editor, Coleman Report The post Coleman Report Live! January 26, 2024 — Fraud...
View Article“Abacus: Small Enough to Jail”
“Abacus: Small Enough to Jail” is a documentary about Abacus Federal Savings Bank, a small community bank in Chinatown, New York. It’s the only U.S. bank criminally charged in connection to the 2008...
View ArticleHouse Small Business Committee Holds Hearing on Avenues to Capital Access
“For a business to get off the ground, small business owners must invest their time and financial resources. For most entrepreneurs, this means going to the bank to secure a loan. This capital provides...
View ArticleSBA Releases Fiscal Year 2023 Agency Financial Report
The annual Agency Financial Report gives an overview of SBA’s financial and performance data. It is one of two required reports that federal agencies must publish each year. The report is filled with...
View ArticleAmerican Momentum Bank Enters Denver Market with Key SBA Lending Hire
Vic Calonder joins the bank as senior vice president, SBA business development officer III, as SBA Lending Division continues national expansion DENVER, CO (Jan. 23, 2024)— American Momentum Bank has...
View ArticleThe Top 30 SBA 7(a) Loan Exceptions Found in 2023 — Webinar Tuesday, February...
Mistakes Lenders Need to Avoid that Jeopardize the SBA 7(a) Loan Guaranty Attend the Live Webinar EventThursday, February 8, 20242:00 PM Eastern75-minute training with e-certification Juggling the...
View ArticleFraud Friday – Whistleblower False Claims Act Lawsuit Dismissed for Two PPP...
January 26, 2024 Delaney SextonContributing Editor Fraud Friday – Whistleblower False Claims Act Lawsuit Dismissed for Two PPP Loans Three former employees at ManPow, LLC, alleged that the real estate...
View ArticleColeman Report Live! January 29, 2024 — Main Street Monday @ 1pm EST
Join on MS Teams Watch on YouTube Host: Bob Coleman, Owner/Editor, Coleman ReportCo-Host: Lance Sexton, Contributor, Fountainhead CCGuests: Delaney Sexton, Editor, Coleman Report The post Coleman...
View Article80% of Small Business Borrowers Point to Interest Rates as Their Top Problem...
“Small business owners have been navigating higher interest rates since the Federal Reserve started hiking in March 2022, but have been increasingly affected by higher rates over the last six months....
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