? The owner of a troubled protein powder company, American Pure Whey, is the latest person indicted on PPP loan fraud charges. PPP loans were guaranteed, forgivable loans guaranteed by the federal government in response to the COVID pandemic in 2020. They were approved as part of the CARES Act. Protein Powder Company Owner Faces […]
Tag: Loan
Small Business Loan Approval Rates Dropping Slightly at Some Banks
Small businesses need access to capital right now and they’re having trouble finding it through loans. While small business loan approval rates at some lenders are up just slightly, according to the latest Biz2Credit Lending Report for September, access to capital remains a challenge. Biz2Credit CEO and co-founder Rohit Arora said small businesses continue to […]
Small Business Loan Approval Rates Up with Some Lenders
Loan approval rates are down slightly at Big Banks and Credit Unions, but the loan approval rate continues to slowly rise at small banks and non-bank lenders, according to the Biz2Credit Lending Report for August. Biz2Credit Small Business Lending Index September 2022 “The overall conditions are tightening, and big banks are taking more provisions now,” […]
7 Business Car Loan Options
If you’re in the market for a business auto loan, you have lots of options. You can go with a traditional lender, or explore alternative lenders. In this article, we’ll discuss 7 loan options to consider if you’re looking to purchase commercial vehicles or specialty vehicles. What Is a Business Auto Loan? Business auto loans, […]
Small Business Loan Approval Rates Up Slightly at Some Banks
Loan approval rates continue to slowly rise, according to the Biz2Credit Lending Report for July. As they did during June, Small Banks and Alternative Lenders saw the strongest growth with each showing a .2% increase. Institutional lenders and Big Banks each saw a .1% increase in loan approval rates. Of all lenders, loan rates only […]
California Man Pleads Guilty to Multimillion Dollar PPP Loan Fraud Scheme
A California man has pleaded guilty to conspiring with others in schemes involving millions of dollars in inflated tax returns and exploiting the Paycheck Protection Program (PPP). California Man Pleads Guilty to Tax and PPP Loan Fraud According to the Department of Justice, Thanh Ngoc Rudin and his brother along with others conspired to commit […]
Small Business Loan Approvals from Some Lenders Up Slightly in June
Loan approval rates continue to slowly rise, with Small Banks and Alternative Lenders seeing the strongest growth during June. Of all lenders, loan rates only decreased with Credit Unions, and that was just a 1% decrease. “We are nowhere near pre-pandemic approval percentages, however,” said Biz2Credit CEO Rohit Arora. “Still, these are positive signs.” “Rising […]
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 […]
Former Mighty Morphin Power Ranger Charged with PPP Loan Fraud
Austin St. John, 47, McKinney, TX, is one of 18 people charged in a Paycheck Protection Plan (PPP) fraud scheme that allegedly involved 16 loans and $3.5 million. St. John is best known as the original Red Power Ranger in the Mighty Morphin Power Rangers television series. The series launched in 1993. Former Mighty Morphin […]