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SBA

SBA's nonbank lending program faces scrutiny over fraud risks

SBA's nonbank lending program faces scrutiny over fraud risks

The Washington Business Journal flags SBA IG findings that nonbank lenders contribute to widespread Paycheck Protection Program (PPP) loan fraud. Nonbank lenders, who issued $61 billion in PPP loans, were found to be five times more likely than traditional banks to process fraudulent loans, accounting for $14 billion in suspected
Jason Lee Bakke Nov 18, 2024
SBA proposes updates to HUBZone regulations

SBA proposes updates to HUBZone regulations

In an August 2024 proposed rule, SBA proposed several updates to the Historically Underutilized Business Zones (HUBZone) program, aiming to clarify qualifications and enhance program administration. These changes are designed to strengthen HUBZone-certified businesses' access to federal contracts and assist government buyers in meeting small business diversity goals. As
Jason Lee Bakke Nov 10, 2024
Why expanding small-business contracting is more challenging than one rule

Why expanding small-business contracting is more challenging than one rule

The Washington Business Journal covers SBA’s proposal to expand the rule of two to IDIQ order competition, co-signing without comment SBA’s news release statement that such a rule would drive more than $6 billion annually to small business. What casual observers of the IDIQ trend miss is the
Jason Lee Bakke Nov 5, 2024

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