SBA Today

We've got:

📰 Diving into the SBA Connect... Reader's Digest Style

💡 Clients may be using your bank for deposits BUT not much else….

It's July 16th, 2024 and this is SBA Today.

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.

We've got:

📰 Top Stories - Restaurant Sales Prices are Up

💡 During Job Interviews, Employers say recent college graduates have…

📖 Tonya's Stories from Abroad

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.

This is SBA Today! With the latest news, stories, and advice with your hosts, Paul Long and Tonya Mazurek.

📰 Top Stories - Ready Capital acquired a big USDA Lender

💡 Sellable vs. Non-sellable businesses

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.

Welcome to another episode of SBA Today, with your hosts, Paul Long and Tonya Mazurek.

This week's episode, airing for the week of June 11th, dives into the intricacies of the new SBA working capital program, the implications of the SBA's proposed budget, and the latest on penalties and fees.

Tonya also shares a personal anecdote about learning from different generations that seamlessly ties into broader business insights.

Here are the highlights:

• Prohibition on Direct Lending: The House's proposed FY 2025 budget includes a prohibition on SBA direct lending, highlighting the ongoing debate around SBA's role in direct lending.

• New Working Capital Program: The SBA's new pilot program for working capital offers up to $5 million in credit lines with significant guarantees, aiming to be more appealing for both lenders and borrowers.

• Increased Penalties and Fees: Due to inflation, increased penalties and fees are coming into place for non-compliance, underscoring the need for vigilance and timely reporting by SBA lenders.

• Spike in New Business Applications: April saw a significant surge in new business applications, marking the highest numbers since 2004 and indicating robust entrepreneurial growth.

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,

• The SBA's decision not to sell its EIDL loan portfolio has led to discord with the Small Business Committee.

• Paul Long instigated a discussion on LinkedIn about guarantor percentages for SBA loans, stirring a detailed debate on the ethics and nuances of loan underwriting.

• Change, both in personal life and in business, is a consistent theme recognized by the hosts during the graduation season.

• The significance of thorough due diligence in the lending process and the unique complexities of commercial lending

• Kabbage, a lender for PPP loans, is under legal scrutiny for doling out inflated and fraudulent loans, showcasing the need for stricter fraud control measures.

• The NAACL Conference provided updates on valuable SBA lending procedures, including new e-tran functionalities and the endorsement of DocuSign with specific requirements.

• The SBA is actively investigating the misuse of funds, as reflected in error code 4363, indicating the importance of compliance and due diligence.

• A surge in working capital requests is being used to refinance debt, contrary to program stipulations, emphasizing the role of lenders as gatekeepers to ensure proper fund usage.

• Despite challenges, the PPP initiative has had a transformative effect, helping businesses sustain operations during unprecedented hardships.

This week, we've got:

📰 According to TD Bank, your pipeline is about to get even larger

📖 Tonya's Morning Routine: Anticipation and preparation

💡Digging into the SOP can make you a more confident and knowledgeable lender

It's May 14th, 2024 and this is SBA Today.

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.

This week, we've got: 📰 Loan access for individuals on probation or parole 📖 Tonya & Team bring home Awards 💡 "You are worthy" - SBA tip of the day It's May 7th, 2024 and this is SBA Today. Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.

We've got: 📰 Funding Circle SBLC License Drama 📖 Power of Just Showing Up 💡 Answering Your Questions: 10% down on Business acquisitions It's April 30, 2024 and this is SBA Today. Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.