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SBA Provides Critical Disaster Assistance to Help Georgians Recover from Hurricane Helene
… and residents in Georgia following the announcement of a Presidential disaster declaration for Hurricane Helene that … will be covered by insurance or other sources, SBA can make a low-interest disaster loan for the total loss up to … loan program is designed for your long-term recovery, to make you whole and get you back to your pre-disaster … -
5 Key Tips on Sales Forecasting for Business Owners
… Owners August 23, 2016 Don't underestimate the value of a sales forecast for running a business effectively. Tim … your business. There are no hard and fast rules on this. Make it so it works. For example, with my software business, … Therefore, to ensure your sales projections is worthwhile, make sure the organization of the forecast in rows or items … -
Peggy E. Gustafson, Inspector General, U.S. Small Business Administration, Before the Small Business and Entrepreneurship Committee, United States Senate, March 3, 2011
… preferential contracting programs (such as the Section 8(a), HUBZone, Service-Disabled Veteran-Owned (SDVO) and … about continued fraud and improper activity in the 8(a), SDVO, HUBZone Programs and other preferential contracting … that companies that submit invoices or requests for payment on preferential contracts would be deemed to certify … -
Taking a risk
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Helping Employees TaxWise Who Work from Home
… from home, understand the tax rules they face for claiming a home office deduction and what you can do to help them. Overview of the home office deduction A home office deduction enables a person to treat otherwise … the rent as income (and the corporation deducts the rent payment) but you can't take a home office deduction. … -
SBA’s Paycheck Protection Program Loan Review Processes
… $2 million. Not completing reviews of loans and remitting payment promptly creates uncertainty for borrowers and PPP … ineligible. Outstanding loan forgiveness applications are a potential indicator of fraud. Borrowers who fraudulently obtained a PPP loan are unlikely to apply for loan forgiveness. We … -
Procedures for Lender Submission of Paycheck Protection Program Loan Forgiveness Decisions to SBA and SBA Forgiveness Loan Reviews
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Debenture Deal Factors Prepayment Experience
… by pool by percentage Support Pooled SBIC Debentures have a 10 year term. SBICs have the option of prepaying pooled Debentures prior to maturity on any Payment Date after pooling. Prepaid principal is distributed pro-rata to the investors in each pool. A default by an SBIC may result in an acceleration the SBIC’s … -
Audit Report 12-23R: 504 Recovery Act Loans were Originated and Closed in Accordance with SBA Policies
… included: loans approved that lacked creditworthiness; a loan approved with a collateral shortfall; and a loan approved as an existing … deficiencies were identified, and (3) notify the improper payment review team of the improper 504 loan guaranties to … -
Report 11-07 - Processing of Insurance Recovery Checks at the Disaster Loan Servicing Centers
… benefits. The servicing centers receive and process a variety of checks including loan payoff checks, borrower … insurance recovery check processing systems, we obtained a universe of 21,568 checks processed by the Birmingham … identify which were for insurance recovery, we extracted a sample of 1,500 checks from the Birmingham universe and 800 … -
ICYMI: SBA Administrator Provides Maui Recovery and Relief Update in Interview with Hawaii News Now
… the funding to rebuild.” She added, “We want to try to make sure that we can provide you with the funding to help … to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an … -
SBA Microlending Success Story: Miriam’s Earthen Cookware Bootstrapped and Built in Her Own Backyard
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Ward Lumber Transitions Ownership to Employees Thanks to SBA Resource Partner
… made history by purchasing the 130-year-old business as a worker-owned cooperative. The transaction marks the first … role as the company’s chief executive officer, completed a contract with his employee team that makes Ward Lumber the … said. “I really wanted to empower the employee team to make decisions on their behalf and for their benefit.” Ward … -
Smoky Lake Maple Products Taps SCORE Mentors for Export Success
… steam coming from his test equipment and thought there was a fire on his land. The couple started Smoky Lake Maple … their passion, they turned to SCORE in 2016 after getting a referral from a friend. SCORE Fox Cities mentor Mary Lou Vande Hey used … -
eighteen twenty wines, Maine's Woman Owned Small Business of the Year 2022
… and after giving her friend’s home-brewed rhubarb wine a try, decided to make it a full fledged business. Since 2015, eighteen twenty wines … -
Honolulu County 2022 Small Business Person of the Year
… Business Person of the Year Erin Kanno Uehara of Choco le’a is Honolulu County's 2022 Small Business Person of the … Erin’s plan to open a chocolate shop. Her dream was to make the world a better place by connecting people and … to find a long-lost family member who taught her how to make chocolates. She is now living out a mission of “Bringing … -
SBA Resources to Help Women Entrepreneurs Start and Grow Businesses
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SBA’s Guaranty Purchases for Paycheck Protection Program Loans
… as required. If the loan is not forgiven and the loan payment becomes more than 60 days past due, the lender should request a guaranty purchase, which is SBA’s purchase of the … loans when the borrower is 60 days or more past due on a loan payment, permanently closed, bankrupt or deceased. … -
Achieve Sports Center selected as Colorado 2024 Small Business Person(s) of the Year
… entrepreneurial success but also of dedication to making a positive impact on the lives of individuals, families, and … with an SBA 504 loan. The COVID-19 pandemic resulted in a large setback to the company. Despite this, the Herrons … Maintaining capital reserves, implementing innovative payment alternatives, and keeping 100% of staff on payroll …