Your hosts, Paul Long and Tonya Mazuerek, unpack the latest SBA news as of June 4th, 2024.

• New Criminal Justice Rule: The rule, effective May 30th, affects the SBA loan application process, particularly in how it handles applicants with certain criminal backgrounds.

• SBA Form 413 Updates: Changes are coming to the SBA Form 413 to improve accessibility and compliance, impacting both lenders and borrowers.

• SBA's Challenges in Fraud Prevention: Discussion around the SBA's efforts to curb the $200 billion in potentially fraudulent Covid-19 EIDL loans.

• Moral and Ethical Considerations: Tonya and Paul discuss the ethical implications of fraud and the importance of integrity in business practices.

• Role of Key Employees: The definition and implications of 'associates' under the new criminal justice rule,