ColemanPublishing.com
Home | SBA Lending News | Coleman Small Biz News | Search | Member Area
 Manage your Coleman Emails Here
Sign up for our free eNewsletter, Coleman's SBA Lender Daily. Just enter your email address here.
We will never sell your email address EVER. Period.  
 Search

Contact Us
 Upcoming Events

 Coleman SBA Daily Archive

Coleman SBA Lender Daily
 Audio Conference: Hotel

 Audio Conference: Restaurant

 Coleman CNN Article
 ARC Loan Guide


Coleman's SBA ARC Lender Guide
Order Now

 Coleman Online Training
Untitled 1

Submitting Flawless SBA 7(a) Loan Packages

Introducing the first in a series of webinar training videos designed to train SBA lending Professionals.

Special Introductory Price $99 Through September 30, 2009

Normally $249 monthly

Click Here To Learn More

Order Online

 SBA SOP

Order Form
(for CA Addresses)
Order Now!
 Coleman Report
 2009 Rural Roundtable

Rural Lenders Roundtable
October 6, 2009

Register Online
Registration Form
 Job Opportunity

Work at Coleman Publishing
Collateral Specialists Inc.
The current list of SBLC SBA Lending Licenses
As of January 1, 2009 the following is a list of Small Business Lending Companies

American Business Lending, Inc.
BBB Funding, LLC
Business Loan Center, LLC
CIT Small Business Lending
First Western SBLC, Inc.
GE Capital Small Business Financing
Grow America Fund, Inc.
Hana Small Business Lending, Inc.
Mainstreet Lender 7(a), LLC
Newtek Small Business Finance, Inc.
Small Business Loan Source, LLC
Superior Financial Group, LLC
The Loan Source, Inc.
Wachovia SBA Lending, Inc.
SBA Lending News
Joanne W. Jolin Joins HomeBanc as Vice President, SBA Loan SpecialistJoanne W. Jolin Joins HomeBanc as Vice President, SBA Loan Specialist
Tampa-based HomeBancorp, Inc. has named Joanne W. Jolin as Vice President, SBA Loan Specialist for HomeBanc. She is based in HomeBanc's Lake Mary loan production office, located at 100 Colonial Center Parkway, Suite 110. Ms. Jolin brings to HomeBanc more than 30 years of commercial banking experience, with 13 years specializing in Small Business Administration lending. . . . keep reading

sbaAccess - What is "REASONABLE" and "PRUDENT"?sbaAccess - What is "REASONABLE" and "PRUDENT"?
sbaAccess has provided a great resource for SBA lenders to adhere to all current regulations and continue with prudent lending. Karen Mchugh, Principal of sbaAccess writes, "There are catch-phrases in the new regulations that center around the terms 'commercially reasonable' and 'prudent lending standards'. . . . keep reading

SBA Scrutinizes Weak Lenders More Thoroughly (Audio Clip)SBA Scrutinizes Weak Lenders More Thoroughly (Audio Clip)
Bryan Hooper, Director, Office of Risk Management, discusses a couple of red flags that his office is looking for when assessing the risk of SBA loans. Listen to this short clip from Hooper's speech from the Mid America Lender's Conference recorded Aug. 11, 2009. . . . keep reading

Evergreen Business Capital Featured 504 Loan - James E. Johnson, DDSEvergreen Business Capital Featured 504 Loan - James E. Johnson, DDS
The first 504 loan still had a remaining balance. "I wondered how I could possibly provide as good a financing package for Dr. Johnson as we had with his initial 504 loan," Hayes wondered. "A quick call to Pat Rogers [Evergreen Loan Officer] gave me the answer. I learned it was possible to make a second 504 loan behind the first one." The Deeds of Trust could be altered with Charter Bank in first and second position and Evergreen in third and fourth. . . . keep reading

SBA Approved Franchise with a Passion for Learning - The Tutor DoctorSBA Approved Franchise with a Passion for Learning - The Tutor Doctor
The Tutor Doctor is an SBA approved franchise. It is a leader in affordable one-on-one supplementary education and offers custom-tailored educational programs to meet children's and older student's needs. Tutor Doctor franchise owners don't need to rent or lease retail or small business space because Tutors operate in client's homes. This is a white collar, home-based business that utilizes a network of tutors. This franchise model eliminates the need for high overhead costs associated with a traditional office or small buisinesses. . . . keep reading

SBA Secondary Market in "Good Shape" According to SBA Office of Policy and Strategic Planning (Audio)SBA Secondary Market in "Good Shape" According to SBA Office of Policy and Strategic Planning (Audio)
Jim Hammersley, Deputy Assistant Administrator, Office of Policy and Strategic Planning, said the secondary market has not fully returned to 100% but it is in "good shape". He further noted that the market is within striking distance of a full recovery. Recorded at the Mid-America Lenders Conference Aug. 10, 2009 . . . keep reading

IFA Applauds Senate for Main Street Credit Availability Act of 2009IFA Applauds Senate for Main Street Credit Availability Act of 2009
IFA: "Thank you for introducing S. 1615, the Next Step for Main Street Credit Availability Act of 2009. This legislation will improve the Small Business Act and make the Small Business Administration (SBA) loan programs accessible to more start-ups and entrepreneurs and it provides an important tool to help small businesses lead our economy out of recession. . . . keep reading

The South Financial Group Names Rich Bradshaw as Director of SBA LendingThe South Financial Group Names Rich Bradshaw as Director of SBA Lending
Chris Holmes, Executive Vice President and Director of Corporate Financial Services, commented, "We are very pleased to have Rich on our team. His experience and successes in SBA lending will greatly strengthen our efforts to attract and deepen our relationships with small business and commercial customers. In addition, the formation of a SBA lending unit under Rich's leadership positions us to better address the needs of small business customers during an economic period when our customers and markets need access to credit." . . . keep reading

Recovery Act Expands SBA Microloan ProgramRecovery Act Expands SBA Microloan Program
WASHINGTON -- With the American Recovery and Reinvestment Act funding an additional $50 million for loans and $24 million for technical assistance, the U.S. Small Business Administration is expanding its Microloan program and increasing access to capital for small businesses across the country. . . . keep reading

The New King Of Small Biz Lending - Forbes
After spending nine years atop the ranks of lenders to small businesses, CIT Group has fallen from its perch. The commercial lender, struggling with a heavy debt burden and a broken financing model, has watched its share of Small Business Administration loans drop from 6% of the market to 1.1% in the first nine months of the fiscal year. . . . keep reading

Vinvision, Inc. Secures $6 Million in Construction and SBA Financing From Bridge BankVinvision, Inc. Secures $6 Million in Construction and SBA Financing From Bridge Bank
"We are impressed with the success Vinvision has experienced," said Neil Santiago, Vice President, SBA and Commercial Real Estate Division at Bridge Bank N.A. "We enjoyed the opportunity to work with their management team and help them with their expansion plans. Not only did the firm continue to effectively manage their day to day activity, they were able to bring the project in on time and under budget, with no disruption to their customers during the relocation." . . . keep reading

SBA 'very close' to Getting New WatchdogsSBA 'very close' to Getting New Watchdogs
Two independent watchdogs for the Small Business Administration appear to be headed for Senate confirmation in September. Winslow Sargeant, President Barack Obama's nominee to head the SBA's Office of Advocacy, and Peggy Gustafson, the nominee to be the agency's inspector general, sailed through their Aug. 6 confirmation hearing. . . . keep reading

Alerus Bank & Trust Increases Staff for SBA Loan DepartmentAlerus Bank & Trust Increases Staff for SBA Loan Department
Vickie Engle has joined as Vice President, Loan Operations Manager of Alerus Bank & Trust, Arizona. Bonnie Jessen was named as Vice President for the Arizona market. Diane Bowman was named as a teller. Charlene Pillar was named as a Customer Service Representative . . . keep reading

Plum Jobs Part II: SBA Appoints Key Agency Senior StaffPlum Jobs Part II: SBA Appoints Key Agency Senior Staff
WASHINGTON -- The U.S. Small Business Administration has announced the appointment of several members of the leadership and management team of SBA Administrator Karen G. Mills. "The SBA has the vital role of helping the nation's small businesses access the resources and capital they need to survive and build," Mills said. "I am pleased to appoint these experienced and dedicated pubic servants to the SBA team. They recognize that small business is critical to our economic recovery and strength, and they will help the SBA deliver on this promise." . . . keep reading

Banks Wary of Small Business ARC Loans - CNN MoneyBanks Wary of Small Business ARC Loans - CNN Money
The SBA's data also revealed a striking geographic disparity. Two Midwestern states, Minnesota and Wisconsin, each have scores of participating lenders and have together generated 28% of the ARC loans made to date. By comparison, 14 states, including Alabama, Oregon and South Carolina, each have fewer than five lenders participating in the program. . . . keep reading

Nevada State Development Corporation (NSDC) Announces First 504 Loan Under Recovery ActNevada State Development Corporation (NSDC) Announces First 504 Loan Under Recovery Act
NeRo Specialties Inc. was Nevada State Development Corporation's first approved and funded SBA 504 loan in Southern Nevada to receive the benefits of ARRA. The new changes to the SBA 504 loan program reduced the borrower's loan origination fees by nearly 2% of the total loan amount. Along with the stimulus package savings and low interest rates, they were also able to capitalize on currently low commercial real estate prices without having to deplete their company's liquidity. . . . keep reading

SBA Stimulus to Dry Up by DecemberSBA Stimulus to Dry Up by December
Grady Hedgespeth, SBA's Director of Financial Assistance, reported at the Mid-America's Lenders Conference in Sugar Land, TX last week that as of July 31, 2009, SBA approved $5.7 billion in 504 and 7(a) recovery loans. Together they have helped generate $7.8 billion in lending to small businesses. About 45% of total limits allocated by Congress have not been obligated. SBA estimates at the current pace that funds will be out by the end of this year. . . . keep reading

Want an A.R.C. Loan? Head to the Heartland - NY TimesWant an A.R.C. Loan? Head to the Heartland - NY Times
Robb Mendelbaum reporting for the NY Times writes, "As I report today in an article about one restaurant owner's (ultimately unsuccessful) effort to secure an A.R.C. loan, just 405 banks had made 1,127 loans as of Monday. Also depressing because most of the names on the list will be unfamiliar to most readers. J.P. Morgan Chase is on the list, as are Wells Fargo and SunTrust. But from there, the national brands trail off. Of the 25 largest banks in the U.S. -- which together control two-thirds of all bank assets -- only eight have made an A.R.C. loan. . . . keep reading

Landrieu Comments on SBA Region VI Administrator AppointmentLandrieu Comments on SBA Region VI Administrator Appointment
"As the Senior Vice President for Wells Fargo, the largest SBA lender in Texas, Yolanda has proven herself to be a strong advocate for small businesses. She understands the unique needs of small business owners and the struggles they are facing as they try to gain access to capital to stock their shelves, pay their employees and keep their doors open in these tough economic times. Yolanda has been a dedicated public servant, and as the Louisiana senator, I look forward to working with her to rebuild businesses along the Gulf Coast and throughout the state struggling to survive and grow." . . . keep reading

Business Development Company of Rhode Island (BDCRI) Names new President - 7(a) Lender 
Peter C. Dorsey Jr.Business Development Company of Rhode Island (BDCRI) Names new President - 7(a) Lender Peter C. Dorsey Jr.
"Peter Dorsey has the business and financial skills and experience that are the cornerstone of successful lending, and a finely honed understanding of the regional business market that will help guide the BDCRI," Higginbotham said in a statement. "We look forward to working with him as the BDCRI continues to help local companies grow." . . . keep reading

SBA Releases ARC Loan Approvals Per StateSBA Releases ARC Loan Approvals Per State
SBA has released the total number of ARC loans approved per state. Minnesota posted the most with 181 as of August 12.
Minnesota (181), Wisconsin (154), Utah (66), Iowa (57), Ohio (55) . . .
keep reading

LL INVESTIGATION: SBA loan program 'designed to fail' - Part I
Neal Gordon, who is the principal for the Business Borrowers Alliance, is currently assisting 25 customers with their ARC loan paperwork. He said the ARC loan program is "just a clunker without the cash at this point" because lenders are just not participating. Gordon said this is because the volume of paperwork involved in these $35,000 loans is almost as much as for SBA-backed loans for up to $2 million . . . keep reading

LL INVESTIGATION: SBA loan program 'designed to fail' - Part II
Gordon said there really isn't enough money in it for banks to participate because they can't charge an application fee for these types of loans, which would have covered at least some of the lenders' costs. "Even if the banks want to do the right thing, they are having trouble doing it because of this program," he said. "Their hands are tied in many ways, or they have to make decisions that are counter to what is considered to be good business just because of the way this works." . . . keep reading

TMC Closes $10.5 Million Deal for Service West, Inc.TMC Closes $10.5 Million Deal for Service West, Inc.
"Service West is a perfect example of how recent changes to the SBA 504 loan program make this type of financing an even better fit for larger projects," said Barbara Morrison, President of TMC Development. "With a high loan-to-value ratio, significant fee reductions as part of the President's effort to stimulate the economy with the ARRA, and SBA's new energy policy, it is truly an ideal time for businesses to take advantage of available 504 financing." . . . keep reading

Esther H. Vassar Named SBA's National OmbudsmanEsther H. Vassar Named SBA's National Ombudsman
"With her experience managing a state regulatory agency, Esther Vassar brings to the National Ombudsman's office first-hand knowledge of what it takes to build partnerships between government and business," said Administrator Mills. "The office of the National Ombudsman is a good match for Esther's talents, and I have no doubt she will contribute greatly to improved cooperation between small business and federal regulatory agencies." . . . keep reading



Questions, Comments or Suggestions?
Please E-mail them to bob@colemanpublishing.com

Contact Information
Robert Coleman
P.O. Box 546
La Canada, CA 91012
(818)790-4591
(c) 2000-2009 All Rights Reserved

SBLX
Borrego Springs Bank

FEATURED IN THE WSJ

ORDER FORM

ORDER ONLINE

Coleman Learning Series
View Full Collection
Over 20 SBA Industry Experts
Order Online