May 30, 2024 Delaney SextonContributing Editor New Criminal Justice Reviews Final Rule Goes Into Effect Today The SBA final rule updates program regulations regarding eligibility based on criminal history records. Under the 7(a) and 504 loan programs, SBA removed the restriction that limited businesses with an associate who is on probation or parole. Keep in…

May 30, 2024 Delaney SextonContributing Editor West Virginia Small Businesses: Five Fast Facts Source:SBA Office of Advocacy 2023 West Virginia Small Business Profile

May 29, 2024 Delaney SextonContributing Editor SBA OIG Investigations Led to 124 Convictions in Six Months The SBA Office of Inspector General reported on their work from October 1, 2023, to March 31, 2024. The OIG’s investigations led to 130 indictments and 124 convictions during that period. Their work has resulted in $224.2 million in…

May 29, 2024 Delaney SextonContributing Editor La Tisha Venters Joins Community Business Finance as Business Development Director “Community Business Finance is thrilled that La Tisha is joining our team. She is a highly respected SBA 504 expert with an impressive track record of loan production in Texas. As our CDC grows, having La Tisha’s leadership…

May 29, 2024 Delaney SextonContributing Editor Washington Small Businesses: Five Fast Facts Source:SBA Office of Advocacy 2023 Washington Small Business Profile

May 28, 2024 Delaney SextonContributing Editor Top SBA Management & Performance Challenges in Fiscal Year 2024 SBA’s Inspector General published their Spring 2024 Semiannual Report to Congress, which summarizes their work from October 2023 to March 2024. The OIG report outlines the top eight challenges facing the SBA during that period: Challenge 1: SBA’s economic…

May 28, 2024 Delaney SextonContributing Editor Virginia Small Businesses: Five Fast Facts Source:SBA Office of Advocacy 2023 Virginia Small Business Profile

May 24, 2024 Delaney SextonContributing Editor Disbarred Attorney Sentenced to 9 Years in Prison for $1.4 Million EIDL Fraud – Fraud Friday “Douglas Raymond Arntsen, a disbarred attorney and recidivist fraudster, took advantage of a national emergency to line his pockets, masterminding a scheme to defraud the government out of more than $1.4 million by…

May 23, 2024 Delaney SextonContributing Editor SBA Does Not Plan to Sell the COVID EIDL Portfolio At the end of December, SBA announced their intentions to begin referring COVID EIDLs to the Treasury Department. Now, SBA made the determination not to sell the loan portfolio, in opposition of the third-party consultant’s recommendation. SBA informed the…

May 23, 2024 Delaney SextonContributing Editor Vermont Small Businesses: Five Fast Facts Source:SBA Office of Advocacy 2023 Vermont Small Business Profile