The fallout from the collapse of the nation’s largest credit union continues. Three were charged by the FBI, including Gezim Selgjekaj who was nailed for one count of conspiracy, six counts of bribery, six counts of money laundering, and 15 counts of financial institution fraud. The FBI says Selgjekaj owned several business, which were created…

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We’ve talked about this before, but the reason a lot of small businesses go under is because the business owner gives up. Take this recent story of a third generation butcher recently filing bankruptcy in Massachusetts; “There were many times when you walked into work and (would) feel defeated just starting the day,” said Richard…

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Noah Bank, a small ($228 million in assets), regional (four branches in Pennsylvania,New York, and New Jersey), specialty (caters to Korean-American entrepreneurs) lender may seem small compared to its Manhattan neighbors. Yet in 2011, its first year of operations, Noah topped every other bank in the SBA’s New York district in SBA-guaranteed 7(a) loans, lending…

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A Charlotte, North Carolina woman is still trying to get her house cleaned up after a flood damaged it last year, but when she received an insurance check, she had a whole new battle to deal with. Linda Booth’s insurance gave her money to buy new furniture and pay contractors to finish repairs; the $11,000…

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Remember our discussions on GAFA (Google = Local Search, Apple = Apps, Facebook = Social Media, Amazon = One-Click Shopping) Compliance? As 2012 comes to an end and yearly earnings are totaled, the impact of being GAFA compliant has never been more evident. The Wall Street Journal had an article yesterday on how for four…

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Alabama has long been known as a hub for defense and space research; but in recent years, thanks to funding from the SBA, the state has developed a new reputation – supporter of entrepreneurs developing advanced defense technology. Cat Clifford writes a feel-good article of how SBA grants can make a real difference for a…

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Many lenders utilize FICO scores during their credit scoring process, and this week FICO introduced its new 7.0 model through the cloud. This new version of the small business scoring solution enables small business credit grantors assess credit risk, comply with regulatory requirements, and offer faster responses to small business applicants through process automation and…

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A desolate, obsolete country crippled by communism and isolation in 2010, Cuba has made tremendous strides in boosting their economy since President Castro’s five-year plan to reform the economy with a dash of free-market activity was enacted that year. This week, the island country’s economy czar Marino Murillo announced the government is planning more measures…

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Hawaii was ranked sixth from the bottom for its small business climate in an index by the Small Business & Entrepreneurship Council this week. The index ranks states according to 46 different policy measures, including tax, regulatory and government spending measures. On the plus side, Hawaii has low property taxes, low wireless taxes and a…

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