October 1, 2021 Delaney SextonContributing Editor Fraud Friday – Two Former New York Bank Employees and an Accountant Charged with Loan Fraud “Fraudulent schemes exploiting the Paycheck Protection Program are unfortunately all too commonplace. Okeke, Wint, and Campbell, as charged today, join the ranks of others before them who took it upon themselves to personally…

September 30, 2021 Delaney SextonContributing Editor SBA Statistics – 7(a) and 504 Lending Report for Fiscal Year 2021 Today marks the end of FY21. After a record-breaking year for lending, here is the data as of September 24th. 504 LendingFor the first time ever, the 504 loan program ran out of funds before the end…

September 29, 2021 Delaney SextonContributing Editor C-Suite Wednesday – $25 Billion of the $3.5 Trillion Build Better Back Act is Allocated for Small Businesses The $3.5 trillion budget package has had multiple provisions approved by the House Small Business Committee. If passed, the provisions would include $25 billion to support small businesses over the next…

September 28, 2021 Delaney SextonContributing Editor Hot Topic Tuesday – Update on 7(a) Fee Waivers On September 24th, a lender received an email from the Citrus Heights SBA field office declaring that the 7(a) fee waivers from the CARES Act had been exhausted as of September 23rd: “PLEASE NOTE – As of 9/23/21 funding from…

September 27, 2021 Delaney SextonContributing Editor Main Street Monday – 7(a) Fee Waivers are Finished for the Fiscal Year As of September 23rd, funding from the CARES Act was exhausted. 7(a) loans will now be charged with a guaranty fee and servicing fee going forward. A lender received an email from the Citrus Heights Loan…

September 24, 2021 Delaney SextonContributing Editor Fraud Friday – Former Kansas Lawmaker Pleads Not Guilty to 19 COVID Fraud Charges Michael Capps was indicted on September 9th for PPP and EIDL fraud. The former member of the Kansas House of Representatives’ charges include: • one count of making a false statement to a bank for…

September 23, 2021 Delaney SextonContributing Editor Coleman Movers & Shakers – Vince Calicchia, Mary Leonard-Wilson, and Nate Banchiere Vince Calicchia Joins Community Business Finance as President Bill Ebersole, CEO, states, “The Company chose Vince to prepare and implement the Community Business Finance growth plan with concentration on process, marketing, and regulatory compliance. Vince is a…

September 22, 2021 Delaney SextonContributing Editor C-Suite Wednesday – Florida’s “Old School” SBA Conference Ends Today The FLAGGL Small Business Lender Conference is entering its third and final day. There are an estimated 300 people attending in person and many more attending virtually. Chris Hurn, the founder and CEO of Fountainhead Commercial Capital, speaks positively…

September 21, 2020 Delaney SextonContributing Editor Hot Topic Tuesday – Great Lakes Lenders Conference Goes Virtual “Thank you for your support of the conference and small business community. Michigan SBDC has made the difficult decision to transition the Great Lakes Lenders Conference to a virtual format due to the continued risk and uncertainty of the…

September 20, 2021 Delaney SextonContributing Editor Main Street Monday – Almost 90% of Small Businesses are Impacted by Supply Chain Disruptions “There is much to worry about for small business owners,” reads the NFIB August Small Business Economic Trends report. NFIB Chief Economist Bill Dunkelberg says, “The biggest problems facing small employers right now is…