December 8, 2022 Delaney SextonContributing Editor SBA Bans Blueacorn & Womply for PPP Fraud – 8 Lenders Associated with Service Providers to be Fully Investigated by SBA “The House Select Subcommittee report details serious problems of fraud and self-dealing by lenders and by companies who were paid fees by lenders to help PPP funds reach…

December 7, 2022 Delaney SextonContributing Editor C-Suite Wednesday – 7 States to Receive up to $1.5 Billion Through State Small Business Credit Initiative “This is a historic investment in entrepreneurship, small business growth, and innovation through the American Rescue Plan that will help reduce barriers to capital access for traditionally underserved communities,” says Secretary of…

December 6, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Newtek Bank Receives Approval to Acquire the National Bank of New York City “We could not be more elated to receive the OCC’s approval to move forward and close the acquisition and become a bank holding company and financial holding company,” Barry Sloane, Chairman,…

December 5, 2022 Delaney SextonContributing Editor Main Street Monday – Recommendations in Response to Fintech Fraud In a report written by the Select Subcommittee on the Coronavirus Crisis about fintech’s involvement in PPP fraud, it finishes with eleven recommendations to address PPP fraud issues and improve future programs. The Chair of the Subcommittee, James Clyburn,…

December 2, 2022 Delaney SextonContributing Editor Fraud Friday – Fintechs Facilitated PPP Fraud Says Select Subcommittee in 130-Page Investigative Report “As today’s report details, many fintechs, while promising to help disburse billions of Paycheck Protection Program dollars to struggling small businesses efficiently and expeditiously, refused to take adequate steps to detect and prevent fraud despite…

December 1, 2022 Delaney SextonContributing Editor Coleman Movers & Shakers – Nik Van Vliet and Lee Kroll Nik Van Vliet joins First Bank of the Lake as VP, SBA BDO “Nik brings wide-ranging experience which is of tremendous value to the Bank and our clients. Bringing on another valuable SBA Lending perspective to the team…

November 30, 2022 Delaney SextonContributing Editor C-Suite Wednesday – Hotels See 20% Increase from 2019 in Revenue Per Room Based on an STR report from last week, hotel performance in the U.S. experienced improved occupancy and revenue per available room when compared to pre-pandemic rates. Here is the data: • From November 13 through 19,…

November 29, 2022 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Restaurant Revitalization Fund to Distribute $83 Million “This week, the U.S. Small Business Administration (SBA) began distribution of returned funding in the Restaurant Revitalization Fund (RRF) program, following the program’s closure in June 2021. In doing so, the SBA worked with the advice of…

November 28, 2022 Delaney SextonContributing Editor Main Street Monday – Veteran-Owned Small Businesses Generated $1.27 Trillion in Sales in 2018 Earlier in November, the SBA Office of Advocacy released facts about small businesses with a focus on veteran ownership statistics. Their information used the most recent Census Bureau data to show veteran-owned small businesses’ contributions…

November 25, 2022 Delaney SextonContributing Editor Fraud Friday – Fugitive Couple Extradited from Montenegro for $20 Million Fraud In June 2021, a couple from California, Marietta Terabelian and Richard Ayvazyan, were convicted for a PPP and EIDL fraud scheme. Toward the end of August 2021, they cut their tracking bracelets and fled the United States.…