Tag: SBA

July 13, 2021

In May 2020, the SBA mandated that businesses that received loans of more than $2 million complete a questionnaire regarding their operations and financial conditions during the pandemic. It requested information about gross revenues, capital improvement projects, dividend payments and […]

November 10, 2020

Thursday’s order comes in connection to a lawsuit five media organizations filed in May over a lack of transparency in the loan programs. The Washington Post, The New York Times, Bloomberg, Dow Jones and ProPublica requested the data under the […]

October 15, 2020

The streamlined forgiveness process will affect 3.57 million of the 5.2 million loans originated under the program, which aimed to help small businesses weather the economic hardship brought on by the coronavirus pandemic, according to the SBA. Approximately $62 billion […]

October 1, 2020

Contractors frustrated by the long wait for Paycheck Protection Program (PPP) forgiveness guidance may soon get their questions answered. The Treasury Department expects to begin approving and paying out the forgiveness requests of PPP applicants as soon as this week, […]

June 30, 2020

In the best of economic times, minority-owned construction firms struggle to access the capital they need to operate and grow their businesses. Many minority-owned businesses, for example, pay higher loan interest rates than their nonminority-owned counterparts, according to a report […]

May 13, 2020

When it was clear that the novel coronavirus was going to severely disrupt the business operations of many U.S. companies across a wide range of industries, lawmakers decided to provide economic relief via the Coronavirus Aid, Relief, and Economic Security […]

April 9, 2020

The CARES (Coronavirus Aid, Relief, and Economic Security) Act includes many potential relief opportunities for the nation’s construction industry, which has been hit hard with disrupted supply demand, delayed projects, closed sites, and labor shortages. The Paycheck Protection Program (PPP), […]

February 22, 2019

Whether it’s because there is a short supply of qualified minority-owned contractors in the area or simply an unwillingness to comply with government contracting regulations, some construction companies continue to assume the risks of engaging in minority contracting fraud. Earlier […]

February 8, 2019

The 8(a) application process is an extensive one with strict guidelines, particularly when it comes to who is actually making day-to-day decisions and controlling the qualified company. The SBA allows joint ventures and mentor relationships, but those arrangements must adhere […]