January 25, 2023 Delaney SextonContributing Editor C-Suite Wednesday – BREAKING NEWS Popular Bank Fined $2.25 Million for Unsound Lending Practices The Board of Governors imposed a $2.25 million civil money penalty on Popular Bank based on the following actions with regard to the Paycheck Protection Program. Popular Bank processed and funded six PPP loans worth…

January 24, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – 7(a) Dollars are Up 50% in Fiscal Year 2023 In fiscal year 2023, the 7(a) loan program is on the rise again after slowing down during the pandemic. Since the end of the first quarter of FY23, the SBA has approved almost $6.8 billion…

January 23, 2023 Delaney SextonContributing Editor Main Street Monday – Small Businesses Spending 12% Less on Capital Expenditures “The continuing inflationary environment underscores the need for careful cash flow management in both expenditures and revenues. Cash outflows need to be well-timed to match cash inflows from customer revenues. Small businesses accomplished this in 2022 by…

Joseph ColemanJanuary 23, 2023 Here is a quick profile of the Rural Community Assistance Corporation. West Sacramento based RCAC is dedicated to the Indigenous communities in the western United States by providing technical training and financial resources. The non-profit recently accepted a $50,000 grant from American Express for it’s mission. “American Express is an important…

January 20, 2023 Delaney SextonContributing Editor Fraud Friday – “He Lost it All” Says Defense Attorney in First NBC Bank Trial While many bank executives and borrowers involved in the First NBC Bank fraud case pleaded guilty, the bank’s Founder and former President, Ashton Ryan, began his trial last week. Ryan is being accused of…

By Joseph Coleman Funded by the State of California in FY22 guaranteed 632 small business loans for $278 million. Here’s a quick overview of the program: ● Maximum guaranty of 80%● Maximum guaranty amount: $5 million● Loan Interest rate determined by each lende● Eligible applicants include small businesses with 1-750 employees.● Credit qualifications are based…

January 19, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Alan Peterson and Peoples Bank First Internet Bank Announces Alan Peterson as VP, Senior Business Development Officer “Alan has operated in the SBA arena for the last ten years and is expected to make a big impact right out of the gate”, states SBA…

January 18, 2023 Delaney SextonContributing Editor C-Suite Wednesday – Record Numbers of Business Startups During the Pandemic “One surprising phenomenon that has come out of COVID-19 has been the recent rise in business applications measured by the Census Bureau’s Business Formation Statistics (BFS). As of September 2022, monthly business applications have exceeded pre-pandemic highs in…

January 17, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – Southern States See Higher Delinquency and Default Rates Overall, small business conditions are better in northern states while southern states tend to have less positive small business conditions according to PayNet’s market insights. Default rates in the United States improved while delinquencies and small…

January 13, 2022 Delaney SextonContributing Editor Fraud Friday – Ex-TD Bank Executive Guilty of $17 Million PPP Fraud Daniel Hernandez worked at TD Bank overseeing 80 employees at 27 different branches as a Market Manager until he orchestrated a PPP fraud scheme. He was fired from the bank in August 2022 and pleaded guilty to…