Tag: Loan

US House Passes 7 Small Business Bills – 2 for PPP and EIDL Loan Fraud

The House has passed seven bipartisan small business bills aimed at improving the operation and oversight of key Small Business Administration (SBA) programs. 7 Small Business Bills Pass US House The slew of bills includes legislation to extend the statute of limitations on small business pandemic fraud cases, enhance workforce development offerings, and improve the […]

Former Congressional Candidate Pleads Guilty to PPP Loan Fraud

Former Congressional candidate Nicholas Jones has pleaded guilty to charges of using Covid-19 relief funds for personal expenditures and falsifying records. Former Congressional Candidate Pleads Guilty to PPP Loan Fraud Court documents revealed that 26-year-old Jones from Boise in Idaho, applied for and received Covid-19 relief funds totaling $753,600 via the Paycheck Protection Program and […]

House Small Business Committee Advances PPP and EIDL Loan Fraud Bills

Two of the 7 bills advanced by the House’s Small Business Committee deal address fraud in the Paycheck Protection and Economic Impact Disaster Loan programs. Both bills would establish a ten-year statute of limitations for prosecutions related to fraud. HR 7352 is for the PPP, and HR 7334 is for the EIDLs. The PPP bill […]

EIDL Loan Deadline Nears for Small Businesses and Nonprofits Seeking Hurricane Ida Relief

Small business owners in New York, New Jersey, Connecticut, Massachusetts and Pennsylvania have until June 6 to apply for a Small Business Administration (SBA) Economic Impact Disaster Loan related to Hurricane Ida. Hurricane Ida pummeled the northeast coast for three days, September 1-3, 2021. The June 6 deadline is for completed applications. In other words, […]

Small Increase Noted in Small Business Loan Approval Rates

Loan approval rates continue to slowly rise, but “still nowhere near pre-pandemic highs,” according to Biz2Credit CEO Rohit Arora. Biz2Credit is an online lending platform, and reports monthly on loan approval rates. The report is based on loan applications from 1,000 small business owners. The report includes loan approval rates through April 2022. Small Business […]

Biden Proposes $1.06 Billion for SBA 2023 – Plus Increases in Loan Funding

The Small Business Administration budget request for fiscal year 2023 includes some big increases. The budget request has been passed by the Senate Committee on Small Business and Entrepreneurship. The increases to the budget could aid small business owners who are seeking training and counseling, or access to funding. The proposal also increases the SBAs […]