Small Business Advocates Plead for Help Recovering from the Pandemic
Congress
Small Business Advocates Plead for Help Recovering from the Pandemic
2021-07-14 14:31:03
by Tom Ramstack

WASHINGTON -- Members of Congress threw their support Tuesday behind President Joe Biden’s goal of helping small and rural businesses but with different perspectives on how to achieve it. Rep. Jared Golden, D-Maine, suggested that Congress provide a dedicated source... Read More

Guzman Touts SBA's Progress, but More Capital Still Needed
Business
Guzman Touts SBA's Progress, but More Capital Still Needed
2021-06-01 14:26:07
by Victoria Turner

Recently, Rep. Steve Womack, R-Ark., visited family-owned oil and gas company Pruitt when the small business told the congressman that it would not have survived the pandemic had it not been for the Paycheck Protection Program funding it received. “PPP... Read More

State Attorneys General Try to Soften SBA Crackdown on Business Loans
State News
State Attorneys General Try to Soften SBA Crackdown on Business Loans
2020-10-06 17:39:18
by Tom Ramstack

The attorneys general from 18 states are pushing back against the Small Business Administration for what they describe as an overly zealous crackdown on fraud in the coronavirus relief loans. They are bothered by the SBA's proposed appeal process for... Read More

Copycat Websites, Newly Minted Companies, Double Dippers Cashed in on PPP Loans
Economy
Copycat Websites, Newly Minted Companies, Double Dippers Cashed in on PPP Loans

A suspicious online university whose curriculum appears to be cut and pasted from a European school, two companies with nearly identical websites and two others with practically no internet presence — all five of these businesses are connected to the... Read More

Feds Begin Prosecuting Fraudulent PPP Coronavirus Loans. Some Cases Will Be Hard to Win
Business
Feds Begin Prosecuting Fraudulent PPP Coronavirus Loans. Some Cases Will Be Hard to Win

WASHINGTON — One Los Angeles business owner allegedly went to Las Vegas and gambled away some of the $9 million he received in emergency government loans earmarked for his employees. A Texas man is accused of using his $1.5 million... Read More

GAO: Virus Relief Program Has Inadequate Safeguards; $1.4B in Relief Payments Sent to Dead People
In The News
GAO: Virus Relief Program Has Inadequate Safeguards; $1.4B in Relief Payments Sent to Dead People
2020-06-26 13:57:41
by Dan McCue

WASHINGTON - Confronted with an extraordinary public health crisis, the federal government moved with uncommon agility to bolster the economy and quickly establish services for those infected with the virus, the nonpartisan Government Accountability Office said Thursday. But in doing... Read More

Cunningham Convinces Wealthy Homeowners to Return $1 Million SBA Loan
Congress
Cunningham Convinces Wealthy Homeowners to Return $1 Million SBA Loan
2020-05-01 15:32:39
by Dan McCue

WASHINGTON - A wealthy homeowners association on exclusive Kiawah Island in South Carolina is returning a $1 million federal loan intended to help small businesses and nonprofits after being taken to task by Rep. Joe Cunningham, D-S.C. Cunningham, who is... Read More

Justice Department Sees Early Fraud Signs in SBA Loan Flurry
Criminal Justice
Justice Department Sees Early Fraud Signs in SBA Loan Flurry

The Justice Department has begun a preliminary inquiry into how taxpayer money was lent out under the Paycheck Protection Program and has already found possible fraud among businesses seeking relief, a top official said. Assistant Attorney General Brian Benczkowski, who... Read More

Small Business Loan Program Restarts, Runs Into Snags
Economy
Small Business Loan Program Restarts, Runs Into Snags

NEW YORK (AP) — The second round of loan applications for the government's small business relief program has been slowed by computer issues at the Small Business Administration. Lenders complained Monday that they couldn't get their applications into the SBA... Read More

House Freshman Champions Bill to Bolster Cyber Security for Small Business Administration
Cybersecurity
House Freshman Champions Bill to Bolster Cyber Security for Small Business Administration
2019-08-02 20:33:50
by Sean Trambley

WASHINGTON - Earlier this month, freshman Rep. Jason Crow, D-Col., had the pleasure of seeing one of his first pieces of legislation passed unanimously in the House by a voice vote. Crow’s SBA Cyber Awareness Act requires the Small Business... Read More

Straight From The Well
scroll top