October 29, 2021 Delaney SextonContributing Editor Fraud Friday – Man Charged with EIDL Fraud After Using Proceeds on $58,000 Pokémon Card “It was part of the scheme that Oudomsine unjustly enriched himself by obtaining EIDL proceeds under false and misleading pretenses including by making false statements about the number of individuals his company employed and…

October 28, 2021 Delaney SextonContributing Editor Coleman Movers & Shakers – Shamara van der Voort, Tyler Maragh, and Jonan Tiarks Shamara van der Voort Hired as the Santa Cruz County Bank Chief Operating Officer Krista Snelling, President and CEO comments, “It is a pleasure to welcome Shamara as Chief Operations Officer and as a valued…

October 27, 2021 Delaney SextonContributing Editor C-Suite Wednesday – Small Business Lending Increased Across the Country In the United States, there is an increase in small business lending, especially in comparison to lending in 2020. Delinquency rates and default rates have been low in the nation, according to Paynet Insights. Although the Small Business Lending…

October 26, 2021 Delaney SextonContributing Editor Hot Topic Tuesday – OIG Investigated $335 Million in Loan Agent Fraud in the Last Decade “Lenders often rely on the services of loan agents and lender service providers to help originate, close, service, and liquidate SBA loans of traditional SBA 7(a) and 504 Certified Development Company loans are…

October 25, 2021 Delaney SextonContributing Editor Main Street Monday – 85% of Temporarily Closed Business are Reopened in Quarter 3 2021 “After a surge in COVID cases in Q3, the impact of the delta variant on businesses appears to have been less drastic than originally forecasted – after a slight dip in August, hiring and…

October 22, 2021 Delaney SextonContributing Editor Fraud Friday – Business Owner was Sentenced 2 Years in Prison for Embezzling From Business Partner and Financial Institutions The owner of a commercial flooring business was sentenced to two years in prison for embezzling more than a million dollars from his business partner and financial institutions. From 2011…

October 21, 2021 Delaney SextonContributing Editor Coleman Movers & Shakers – John Hays, Jesus Zavala, and NADCO Board of Directors Plumas Bank Announces John Hays as SVP, Regional Ag Business Lending Officer Executive Vice President and Chief Banking Officer, BJ North, remarks, “John is a proven leader in the ag industry and a trusted advisor…

October 20, 2021 Delaney SextonContributing Editor C-Suite Wednesday – OIG Cites $90 Billion in Potentially Fraudulent PPP and EIDL Loans ”In March 2020, the Coronavirus Disease 2019 (COVID-19) pandemic catapulted the U.S. Small Business Administration (SBA) into the spotlight as the primary agency responsible for providing nationwide assistance to small businesses. Since then, SBA has…

October 19, 2021 Delaney SextonContributing Editor Hot Topic Tuesday – The 7(a) and 504 Program Funded Over $44.75 Billion in Loans On October 12th, the SBA held a 7(a) Quarterly Connect Call that reviewed the final lending statistics for the fiscal year 2021. By September 30, 2021, almost 52,000 7(a) loans were approved (51,856) which…

October 18, 2021 Delaney SextonContributing Editor Main Street Monday – 42% of Small Businesses Raised Employee Compensation in September “Small business owners are doing their best to meet the needs of customers but are unable to hire workers or receive the needed supplies and inventories,” says NFIB Chief Economist Bill Dunkelberg. In the NFIB’s September…