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The Latest Breaking News from SBA

The Great Grift: How billions in COVID-19 relief aid was stolen or wasted

An Associated Press analysis found that fraudsters potentially stole more than $280 billion in COVID-19 relief funding; another $123 billion was wasted or misspent

The Independent UK

Senate confirms highest-ranking Muslim in gov't after earlier GOP blockade

The Senate has confirmed the highest-ranking Muslim official in the U.S. government

The Independent UK

‘We need to read the room’: GOP divided on abortion as Democrats unite for 2024

Democrats center abortion rights in early stages of presidential campaign while Republicans waver over unpopular position

The Guardian - US

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Watch: Biden hosts SBA Women’s Business Summit at White House

Joe Biden hosted the second annual Small Business Administration (SBA) Women’s Business Summit at the White House on Monday, 27 March.

The Independent UK

Why Seattle schools are hinging student success on Black male achievement

SEATTLE — During a math lesson on dividing decimals at Hawthorne Elementary School, 11-year-old Imran Ali said the material didn't click for him until his fifth grade teacher taught it using felt blocks. It was easier, he said, to count out real-life objects instead of grappling with abstract numbers in…

Tribune News Service

Ja’Mal Green business steered COVID-19 relief loan applicants to lenders faulted by Congress for ignoring fraud

In hindsight, government oversight of lenders was lax, mayoral hopeful says, but many small businesses denied by traditional banks got the help they needed.

Chicago Sun-Times

Anti-abortion activists aim to sway GOP White House hopefuls

Emboldened anti-abortion activists are looking to the next presidential election as an opportunity to solidify their influence over the Republican Party

The Independent UK

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Clusters of pandemic relief loans went to the same Chicago addresses, including homeless shelters, Sun-Times finds

One Paycheck Protection Program loan recipient who used a Salvation Army address said he was a farmer. A dozen others said they operated barber shops or beauty salons. Most got loans of about $20,000, the maximum based on a yearly income of at least $100,000.

Chicago Sun-Times

Montana governor announces ban on ESG considerations in state investments

The office of Montana Gov. Greg Gianforte (R) released the following statement on January 18 announcing that Montana has joined several other states in prohibiting non-financial considerations, including considerations related to ESG, in the state’s investments:

Ballotpedia

A tough economy has revived the ‘bootstrapping' myth. Here’s why it takes more than just a good idea to get out of poverty

The very qualities we admire in entrepreneurs are ubiquitous among people in poverty: ingenuity, creativity, and hustle.

Fortune

How the Paycheck Protection Program went from good intentions to a huge free-for-all

An NPR analysis of data released by the Small Business Administration shows the vast majority of Paycheck Protection Program loans have been forgiven, even though the program was rampant with fraud.

WEKU

Scots woman explains how husband's gardening hobby led to major Japanese honour

DESPITE being over 5500 miles away from each other, Scotland and Japan are closely linked.

The National (Scotland)

Pandemic Loans Are Coming Due but Some Businesses Aren't Ready to Repay

Many small businesses that received federal pandemic aid are now on the hook for repayments, and some say the timing couldn't be worse.

Bangkok Post

Congress Has a New Scapegoat for COVID Fraud: Banking Apps

Fintech platforms facilitated fraud in the Paycheck Protection Program, according to a new congressional report.

Reason

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WEKU

A congressional report says financial technology companies fueled rampant PPP fraud

Fraud in the Paycheck Protection Program, which gave potentially forgivable loans to small businesses during the pandemic, was largely due to financial technology companies, according to a new report.

McClatchy Washington Bureau

PPP firms gave selves loans, bought Porsche, $8M home, says report on COVID loan fraud

WASHINGTON — Some of the most prolific online lenders in the federal Paycheck Protection Program had remarkably lax fraud protection controls even as they approved billions of dollars worth of loans in the COVID-19 small business relief program.

Asharq Al-Awsat

SIBF Welcomes 2.17 Million Visitors from 112 Countries

The Sharjah International Book Fair (SIBF) concluded its 41st edition, during which it welcomed over 2.17 million visitors from 112 countries, turning the hosting emirate into a hub for world’s cultures, and a wide space that embraces thought, art, creativity, and knowledge. Embodying its vision of building new generations of…

Asharq Al-Awsat

Saudi Broadcasting Authority Signs 3 Agreements with Global Media, Tech Organizations

The Saudi Broadcasting Authority (SBA) and three international companies with technological and media expertise signed a number of agreements at the Future of Media Exhibition (FOMEX), which was held in Riyadh on the sidelines of the 22nd Arab Radio and TV Festival. CEO of SBA Mohammed Fahad al-Harthi signed the…

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Zenger

Thousands Of Sandy Victims In NJ Are Still Paying For The Superstorm 10 Years Later

A decade after Sandy made landfall in New Jersey, Toms River resident has crossed more rebuilding thresholds than others.

Asharq Al-Awsat

SIBF Recognizes Sudanese Historian Youssef Fadl as Figure of the Year

The Sharjah Book Authority (SBA) has announced Sudanese historian Yusuf Fadl Hasan as ‘Cultural Personality of the Year’ for its upcoming 41st Sharjah International Book Fair (SIBF 2022). Hasan is being recognized for his contributions to the field of history and documentation of the nation’s developmental journey in political, cultural…

WEKU

One week remains to sign up for SBA Disaster Loans in eastern Kentucky

WEKU

Virtually all PPP loans have been forgiven with limited scrutiny

Officials promised a robust review process before forgiving PPP loans, but most loans could be forgiven with a simple, one-page form. Meanwhile, just 2% of loans have gotten close, hands-on reviews.

Reason

Millions of PPP Loans Were Flagged as Potentially Fraudulent. Many Were Never Investigated.

A new report takes an illustrative look inside the Small Business Administration, which was clearly overwhelmed by the obligation to push unprecedented piles of money out the door quickly.

McClatchy Washington Bureau

Facing federal PPP fraud investigations, online lender Kabbage files for bankruptcy

Online lender Kabbage was one of the biggest lenders in the first year of the Paycheck Protection Program, processing more than $7 billion in loans.

Salon

Hurricane Ian could worsen inequality

Poor and non-white communities are often hardest hit — but FEMA disproportionately aids whiter, wealthier areas

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