C-Suite Wednesday – Senator Risch Addresses Rural Access to Capital at the National Rural Lenders’ Roundtable
December 11, 2019 By Caity Witucki Contributing Editor, C-Suite Wednesday C-Suite Wednesday – Senator Risch Addresses Rural Access to Capital at the National Rural Lenders’ Roundtable On December 4, 2019, Senator Risch (R ID) spoke at the National Rural Lenders’ Roundtable in Washington DC. “In my years of service to Idaho I have seen firsthand…
Read MoreSBA Hot Topic Tuesday – Senate Nomination Hearing for New SBA Administrator
December 10, 2019 By Caity Witucki Contributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday – Senate Nomination Hearing for New SBA Administrator On December 11, 2019, at 2:30 PM EST, The Senate Committee on Small Business and Entrepreneurship will hold a nomination hearing for Jovita Carranza. A livestream will be available on the…
Read MoreMain Street Monday – Main Street Optimism Levels Remain High
December 9, 2019 By Mary Miller Contributing Editor, Main Street Monday Main Street Monday – Main Street Optimism Levels Remain High As economists and investors debate whether or not a recession looms on the horizon, small business owners remain cautiously optimistic. “The small business people are at the end of the supply chain. If it’s…
Read MoreFraud Friday– Three Marijuana Businessmen Fraudulently Obtain SBA Funding
December 6, 2019 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday– Three Marijuana Businessmen Fraudulently Obtain SBA Funding In June 2019, the SBA issued a Notice of Suspension to three marijuana business entrepreneurs, prohibiting their participation in SBA programs. According to the OIG, the SBA suspension and debarment official reviewed pending criminal charges against…
Read MoreColeman Movers & Shakers — Stone Bank, Suzanna Caballero, and Elaine Fairman
December 5 2019 By Caity Witucki Contributing Editor, Coleman Movers & Shakers Coleman Movers & Shakers — Stone Bank, Suzanna Caballero, and Elaine Fairman Stone Bank Recognized as Top Arkansas SBA Lender Stone Bank was recently recognized by the Arkansas Division of the U.S. Small Business Administration as being the top SBA lender in Arkansas…
Read MoreColeman’s SBA Compliance Report – SBA Recommends New Corrective Enforcement Actions for High-Risk Lenders
December 4, 2019 By Caity Witucki Contributing Editor, Coleman’s SBA Compliance Report Coleman’s SBA Compliance Report – SBA Recommends New Corrective Enforcement Actions for High-Risk Lenders According to SBA SOP 51 00, one of the objectives of on-site reviews is to ensure that lenders take prompt and effective corrective actions, as deemed appropriate. However, a…
Read MoreC-Suite Wednesday – Preparing SBA Loans for Immigrants and Non-U.S. Citizens
December 4, 2019 By Caity Witucki Contributing Editor, C-Suite Wednesday C-Suite Wednesday – Preparing SBA Loans for Immigrants and Non-U.S. Citizens Entrepreneurs are finding it increasingly important to seek out lenders who are properly aligned with their financial and professional goals. This is especially true for small business entrepreneurs in “difficult” situations, such as non-U.S.…
Read MoreSBA Hot Topic Tuesday – OCRM Fails to Perform Effective Oversight of High-Risk Lenders
December 3, 2019 By Caity Witucki Contributing Editor, SBA Hot Topic Tuesday SBA Hot Topic Tuesday – OCRM Fails to Perform Effective Oversight of High-Risk Lenders On November 12, 2019, the SBA OIG released a report which presented the results of an audit of the SBA’s oversight of high-risk lenders. The audit found that OCRM…
Read MoreMain Street Monday – SBA Reports Impressive Lending Stats for African American Women-Owned Businesses in 2019
December 2, 2019 By Mary Miller Contributing Editor, Main Street Monday Main Street Monday – SBA Reports Impressive Lending Stats for African American Women-Owned Businesses in 2019 Since its inception, the SBA 7(a) Lending Program has approved 1,412 loans, totaling $334.1 million, to African American women-owned businesses. Additionally, loans to African American women-owned businesses have…
Read MoreFraud Friday– New Haven County Credit Union CEO Sentenced for Bank Fraud
November 29, 2019 By Caity Witucki Contributing Editor, Fraud Friday Fraud Friday– New Haven County Credit Union CEO Sentenced for Bank Fraud Former CEO of New Haven County Credit Union, James Farrell, was recently charged with $602,909 dollars worth of bank fraud. As a result of the fraud scheme, Farrell is facing one day in…
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