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Another Competitor to Brick and Mortar Small Biz Lenders
So many non traditional lenders small business lenders are sprouting up, it's difficult to keep track of them. OnDeck Capital, Biz2Credit, Capital Access Network, Boefly. Kiwa and Lendo are a few. Add and amazon, yes that Amazon, to the list. Their models are different than traditional banker cash flow analysis. "Kabbage uses marketplace transaction history (eBay, Amazon, Yahoo Stgores, Etsy, Magento and Shopify) as well as PayPal history (including merchants who host their own ecommerce website, UPS shipping information, customer traffic, and reviews, seller ratings and even social networking data to determine merchant's real time business performance." . . . keep reading

Is this Man Deluded…or Brilliant?
Talk about a provocative headline! profiles a man who wants to use a combination of $4 million in city and SBA loans to reopen a local neighborhood grocery store that closed under previous ownership. The answer to the question? We'll weigh in with our GAFA test. Does he have a strategy to that is compliant with Google, Apple, Facebook and Amazon? . . . keep reading

7(a) Loans for $16 Billion in 2013
Writes one of our fav small business journalists, Kent Hoover, the Washington Bureau Chief of the Business Journals, "The SBA fared better than most agencies, because Congress increased the subsidy it needs to guarantee loans to small businesses from $210 million this year to $333 million next year. The increased subsidy is needed because of higher default rates on SBA-backed loans made from 2005 to 2008. . . . keep reading

Equity, not Lending; Overlooking the Obvious Solution to Solve Cash Flow Problems
A sad fallout of the Great Recession is the number of community playhouses, symphonies and art centers that filed bankruptcy and closed its doors. One of those was Southern California's venerable Pasadena Playhouse that was founded in 1923. With a crushing $2.3 million in debt the theater filed for bankruptcy in 2010. Faced with the prospect of shuttering their doors, a group of citizens challenged each other to pony up gifts. . . . keep reading

Shock Stat: SBA Guarantees 12% of Bank Small Biz Loans
New York Times blogger Ami Kassar, calculates 12% of bank small business loan volume is backed by an SBA guaranty. That's $79 billion worth of SBA loans. To 319,000 small businesses. That's a lot of jobs. At a minimal direct cost to the taxpayer. (Remember in a world of GM, Freddie, AIG and a host of Wall Street banks, it was SBA that didn't need a government bailout!) Now Kassar concedes, the 12% may be an overreach when you consider the universe of non-bank small business lending, but that does not diminish the tremendous impact the SBA guaranty has in increasing the availability of capital to Main Street. And don't forget about the 88% of non-SBA guaranteed loan volume. And that's his point. . . . keep reading

Regional Banks: The New Small Biz Go-to Loan Shop?
Conventional wisdom is community banks are picking up the slack as the Wall Street banks cut back on small business lending. Not so fast says the Wall Street Journal. . . . keep reading

Fraud Friday "I think the Defendant is Sorry He was Caught"
"I'm not sure the defendant is sorry for what he did," said the Judge as he handed down a 15 year sentence to the former CEO of an equipment finance company on September 11th. Joseph Brass orchestrated a $53 million of loan fraud and took down the venerable Bank of Lancaster County in Pennsylvania, one of the five oldest banks in the country that was chartered in 1863. The specialty finance company's niche was to finance equipment for the logging industry. . . . keep reading

Do Romney's Budget Pledges Threaten SBA Loans?
One of the best small business journalists in the country, New York Times' Robb Mandelbaum, has a very good analysis of what might occur to SBA under a Romney budget. He presents two scenarios, one of which could be catastrophic to funding SBA's lending programs. However, once scenario he didn't discuss, is what would happen if budget cuts impact other SBA programs, and leave 7(a) and 504 intact? . . . keep reading

CPR Report: 7a CPRs Fall Below 6%
After rising above the 6% barrier in June, prepayment speeds went back below 6%, falling to 5.39% in July. This reading represents the fourth lowest reading this year and is the fifth time in seven months that the overall prepayment speed has been below 6% in 2012. In comparing prepayment speeds for the first six months of 2012 to the same period for 2011, 2012 is currently 6.26% lower than last year. Specifically, 2012 has an average speed of 5.50% to date, versus 5.87% for the first six months of 2011. . . . keep reading

The Banker, the Borrower and the SBA Loan Maker
This is a nice profile by the Modesto Bee of the three players in an SBA loan transaction -- the banker, the borrower, and of course the SBA in a $2.4 million Northern California SBA 504 loan to a U.S. exporter who specializes in energy-efficient lighting systems. The banker, George Glines of Bank of the West gets props for a good macro quote, "What started California's climb back was when real estate value hit bottom. It takes the uncertainty out of the market enough to where people are optimistic enough and willing to take some chances." . . . keep reading

There are the 5 C's of Credit; Now we have the 3 C's of Small Business
First we've heard of the three C's, and they're not bad. Capital, Contracting and Counseling are what small business needs says SBA Administrator Karen Mills. And we like her answer that the biggest issue for small business is lack of a plan. Followed closely by making sure you have a mentor. Of course one can argue access to capital should be the number one issue for small business, but it is true the entrepreneur needs to know the how to effectively deploy the capital to its best use once they sign on the dotted line. . . . keep reading

Has Obama Really Helped Small Business?
The headline is provocative, but the Washington Post blogger concludes under the President's watch, small business loan demand exceeds supply. There is a nice history lesson and recap of the SBLF, as well as the obligatory chart showing outstanding loans to small business have fallen. New to the debate is this Congressional Research Service chart showing charting the inverse relationship between borrowers and lenders in the ongoing "supply vs demand" debate. . . . keep reading

Mugshot Monday
Daniel J. Lyons, Jr., 55, of Westport, was sentenced yesterday by United States District Judge Robert N. Chatigny in Hartford to 45 months of imprisonment, followed by five years of supervised release, for defrauding Citizens Bank out of nearly $7 million . . . keep reading

Obama Says Small Businesses "kept their doors open because of what we did through the SBA"
In an interview broadcast Monday on WPYO-FM in Orlando, Fla., the president says the Small Business Administration has expanded its lending capacity and lowered fees during the recent recession. A lot of companies, he says "kept their doors open because of what we did through the SBA." . . . keep reading

Fraud Friday--Our Green Edition
Connecticut based F&S Oil wanted to get into green energy, and the company began construction of a biodiesel plant. Then, the dreaded "permitting and construction" delays increased the cost of the project, and extended the completion date of the new facility. The company chose to finance the project with its existing $4.5 million line of credit. . . . keep reading

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