Hot Topic Tuesday — Rhode Island to Join 17 States in Taxing PPP Proceeds

April 27, 2021 Caity RoachEditor Hot Topic Tuesday — Rhode Island to Join 17 States in Taxing PPP Proceeds Congress chose to exempt forgiven Paycheck Protection Program (PPP) loans from federal income taxation. However, many states remain on track to tax them by either treating forgiven loans as taxable income, denying the forgiven PPP loan…

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Are You In Compliance with 2022 SBA 7(a) Collateral Requirements? — Webinar 5/25

• Understand SBA’s 2022 Collateral Requirements• How to Document for Collateral Exempted From Your SBA 7(a) Loan This 75-minute webinar earns e-certification for all attendees. A Coleman WebinarDate: Wednesday, May 25, 2022Time: 2:00 p.m. EasternDownload a Registration Form SBA regulations are clear that your underwriting analysis must show how the borrower will repay the loan…

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Fraud Friday — NASA Senior Executive Pleads Guilty to PPP Loan Fraud

April 23, 2021 Caity Roach Editor Fraud Friday — NASA Senior Executive Pleads Guilty to PPP Loan Fraud “Despite holding a senior executive position at NASA, the defendant applied for over $350,000 in fraudulent loans and benefits,” says Raj Parekh, Acting U.S. Attorney for the Eastern District of Virginia. “In doing so, he essentially treated…

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C-Suite Wednesday – Congress Seeks Information on PPP Forgiveness Backlog

April 21, 2021 Caity RoachEditor C-Suite Wednesday – Congress Seeks Information on PPP Forgiveness Backlog Last week, a group of House Republicans sent a joint letter addressed to SBA Administrator Guzman, asking for information on the backlog of Paycheck Protection Program (PPP) loan-forgiveness applications. “While we are appreciative of the SBA’s ongoing efforts, there remains…

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Documenting Equity Injection the SBA Way: Know the 13 Most Common Mistakes in Equity Injection Documentation — Webinar 3/2

Documenting Equity Injection the SBA Way: Know the 13 Most Common Mistakes in Equity Injection Documentation How to document your borrower’s equity injections perfectly and correctly every time This 75-minute webinar earns e-certification for all attendees. A Coleman WebinarDate: Wednesday, March 2, 2022Time: 2:00 p.m. EasternDownload a Registration Form Do your people make any of the…

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Hot Topic Tuesday – SBA Prepares to Launch Restaurant Revitalization Fund

April 20, 2021 Caity RoachEditor SBA Hot Topic Tuesday – SBA Prepares to Launch Restaurant Revitalization Fund Although applications for Restaurant Revitalization Fund (RRF) grants are not yet being accepted, the SBA posted a Program Guide and Sample Application (SBA Form 3172) to their website last weekend.  “We are starting the process to help restaurants…

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Main Street Monday – Small Business Owners Struggle To Find Qualified Workers

April 16, 2021 Caity RoachEditor Main Street Monday – Small Business Owners Struggle To Find Qualified Workers “Main Street is doing better as state and local restrictions are eased, but finding qualified labor is a critical issue for small businesses nationwide,” says NFIB Chief Economist, Bill Dunkelberg. “Small business owners are competing with the pandemic…

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Fraud Friday – Former Community First VP Charged with Loan Fraud and Arson

April 16, 2021 Caity Roach Editor Fraud Friday – Former Community First VP Charged with Loan Fraud and Arson Former Vice President of Community First Bank of the Heartland, Richard B. Pigg, has been arrested for allegedly monetizing fraudulent commercial real estate loans by burning down his investment properties to collect insurance. According to the…

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