Pennsylvania warns small businesses about SBA loan scams - The Delaware County Daily Times

Pennsylvania warns small businesses about SBA loan scams - The Delaware County Daily Times


Pennsylvania warns small businesses about SBA loan scams - The Delaware County Daily Times

Posted: 19 Apr 2020 05:34 AM PDT

HARRISBURG — Department of Community and Economic Development (DCED) Secretary Dennis Davin warned Pennsylvania businesses to be cognizant of potential scams related to the administration of Small Business Administration (SBA) loans. DCED has received reports of small businesses contacted by individuals posing as loan agents asking for payment to apply for a loan.

"While this pandemic has showcased some of the very best amongst us in our state stepping up, there are individuals who unfortunately will take advantage of vulnerable citizens," said Sec. Davin. "The Wolf Administration is committed to the safety, rights, and wellbeing of Pennsylvanians business owners, and reminds everyone that no one needs to pay for services to apply for SBA loans."

The president signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act March 27 which contained $376 billion in relief for American workers and small businesses. In addition to traditional SBA funding programs, the CARES Act established several new temporary programs to address the COVID-19 outbreak, such as the Paycheck Protection Program, Economic Injury Disaster Loan (EIDL) Emergency Loan Advance, SBA Express Bridge Loan, and SBA Debt Relief. The application process is simple and the Pennsylvania Small Business Development Centers (SBDC) offer application assistance free of charge.

In addition to the free services offered by the PA SBDC, the SBA is also broadcasting at least two free weekly webinars to individuals who may need further assistance.

All 16 SBDCs across the commonwealth have been conducting one-on-one consulting with a multitude of applicants since the SBA loan application opened. Each business is served by a center in the SBDC network, determined by the county in which their business is located.

Resources and information for businesses is regularly updated on the DCED resource website. Businesses seeking guidance or clarification from DCED can receive assistance from the department by reaching out to ra-dcedcs@pa.gov.

Evolving aid package offers billions for small-business loan program, hospitals, testing - FOX 8 Live WVUE

Posted: 19 Apr 2020 10:35 AM PDT

Michigan lawmakers concerned with the low number of small business loans for state - WWLP.com

Posted: 19 Apr 2020 09:19 AM PDT

LANSING, Mich. (WLNS) – Nine Michigan lawmakers are expressing concern with the Small Business Administration over low numbers of small business loans for the state.

A letter today from Congressman Dan Kildee (Chief Deputy Whip of the House Democratic Caucus) states his concern when it comes to small businesses in Michigan being able to access emergency loans under the Paycheck Protection Program.

The letter is addressed to Administrator Jovita Carranza of the U.S. Small Business Administration. The Chicago native serves as a member of President Trump's Cabinet and previously served as the Deputy Administrator for the SBA under former President George W. Bush.

Michigan currently ranks 5th in the number of confirmed coronavirus cases and ranks 2nd when it comes to the number of unemployment claims filed during the pandemic, according to a press release and letter led by Kildee. The release and letter go on to say that Michigan ranks 35th when it comes to small business loans from the SBA, based on eligible payroll in the state.

"According to jobless claims filed since March 14, Michigan has processed over 1 million unemployment claims, representing nearly a quarter of our state's labor force," the members wrote.

In addition to Congressman Kildee, the letter was signed by Michigan U.S. Senators Debbie Stabenow and Gary Peters, as well as Representatives Brenda Lawrence (MI-14), Debbie Dingell (MI-12), Rashida Tlaib (MI-13), Elissa Slotkin (MI-08), Andy Levin (MI-09) and Haley Stevens (MI-11).

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