C-Suite Wednesday – Small Business Lending is Maintaining Yearly Growth
August 23, 2023 Delaney SextonContributing Editor C-Suite Wednesday – Small Business Lending is Maintaining Yearly Growth Equifax’s August report of their small business indices showed that small business lending is holding up in the current economic climate. The Equifax Small Business Lending Index (SBLI) fell almost 2% in June. Though the month-over-month change was negative,…
Read MoreSBA Hot Topic Tuesday – A Fourth of Small Businesses Applied for Financing Last Quarter, 85% were Satisfied
August 22, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – A Fourth of Small Businesses Applied for Financing Last Quarter, 85% were Satisfied “The health of the financial system is essential to small business operations,” says Holly Wade, Executive Director of NFIB’s Research Center. “While most owners are currently satisfied with their ability to borrow,…
Read MoreMain Street Monday – Chairman Rogers Calls for SBA Employees to Return to Office
August 21, 2023 Delaney SextonContributing Editor Main Street Monday – Chairman Rogers Calls for SBA Employees to Return to Office “Even though Main Street has long been back to work, the SBA is still allowing its employees to only come into work twice a week. It’s time they start marching to the same tune. I sincerely…
Read MoreFraud Friday – 6.5 Year Sentence Handed Down After Bribing an SBA Employee in an EIDL Scheme
August 18, 2023 Delaney SextonContributing Editor Fraud Friday – 6.5 Year Sentence Handed Down After Bribing an SBA Employee in an EIDL Scheme It is reported that Nabil Dajani conspired with Joel Greenberg (a tax collector on pretrial release at the time) and an SBA employee to submit fraudulent EIDL applications containing false information. He…
Read MoreColeman Movers & Shakers – Amanda Aaron, Alex Kim, and Dennis Breitrick
August 17, 2023 Delaney SextonContributing Editor Coleman Movers & Shakers – Amanda Aaron, Alex Kim, and Dennis Breitrick Amanda Aaron is Promoted to the Role of SBA Credit Officer at SouthStar Bank Amanda has 19 years of experience in the banking and finance industry as well as over 10 years of experience handling all facets…
Read MoreC-Suite Wednesday – Business Formations are Up 10% in July
August 16, 2023 Delaney SextonContributing Editor C-Suite Wednesday – Business Formations are Up 10% in July The trend of new business growth seen in the last few years continues in 2023. In July 2022, the Census Bureau’s business formation statistics showed that there were more than 425,000 business applications. Last month, there were over 469,000…
Read MoreSBA Hot Topic Tuesday – SBA Disaster Lending Program, NO Interim Financing Available
August 15, 2023 Delaney SextonContributing Editor SBA Hot Topic Tuesday – SBA Disaster Lending Program, NO Interim Financing Available As the Maui wildfires continue burning a week later, SBA lenders have expressed their desire to help with the disaster. In a rule that is effective for all disasters declared on or after July 31, 2023,…
Read MoreMain Street Monday – 88% of All Farms in the Country are Small Businesses
August 14, 2023 Delaney SextonContributing Editor Main Street Monday – 88% of All Farms in the Country are Small Businesses Across the country, there are almost 1.8 million small family farms (farms with gross cash farm income of less than $350,000) according to a recent report from the SBA Office of Advocacy. That accounts for…
Read MoreCorrectly Prepare the New (8/1) SBA Guaranty 7(a) Purchase Package – Webinar 9/13
SBA’s Universal Purchase Package is Now in Effect! Attend the Live Webinar EventWednesday, September 13, 20232:00 PM Eastern75-minute training with e-certification Lenders must be correct and precise in their completion of SBA’s new SBA 7(a) guaranty purchase request — to receive payment and not a guaranty repair or denial. WARNING TO LENDERS:Documentation for purchase. SBA…
Read MoreFraud Friday – Employees Claim Bank of America Paid Them Insufficiently During PPP
August 11, 2023 Delaney SextonContributing Editor Fraud Friday – Employees Claim Bank of America Paid Them Insufficiently During PPP A class action lawsuit was recently filed against Bank of America for allegedly paying their workers inadequately during the Paycheck Protection Program. Employees across the country worked grueling hours early in the pandemic to execute a…
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