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The Latest Breaking News from SBA

District Court Strikes Down Race Preference in USDA's and SBA's Contracting Schemes

From Judge Clifton Corker's opinion today in Ultima Servs. Corp. v. U.S. Dep't of Agric. (E.D. Tenn.) [UPDATE: link fixed]: This case concerns whether, under the Fifth Amendment's guarantee of equal protection, Defendants the United States' Department of Agriculture ("USDA") and the Small Business Administration ("SBA") may use a "rebuttable…

Reason

Kamala Harris touts the small business side of ‘Bidenomics’ at Santa Monica restaurant

LOS ANGELES — As President Joe Biden leans into pitching voters on economic progress made under his watch ahead of the 2024 election, Vice President Kamala Harris is on a mission to highlight how small businesses have fared under “Bidenomics.”

Los Angeles Times

Scammers Stole $200 Billion From Two Federal COVID Aid Programs

A new audit says one out of every $6 distributed by the Small Business Administration during the pandemic was stolen.

Reason

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Federal watchdog says over $200 billion in pandemic business loans look fraudulent

The Inspector General of the Small Business Administration has released a "landscape of fraud" report highlighting why 17% of PPP and other loans appear bogus

WEKU

Over $200 billion in pandemic business loans appear to be fraudulent, a watchdog says

The Office of Inspector General of the Small Business Administration has released a "landscape of fraud" report highlighting why 17% of PPP and other loans appear bogus.

WEKU

The Great Grift: More than $200 billion in COVID-19 aid may have been stolen, federal watchdog says

More than $200 billion may have been stolen from two large COVID-19 relief initiatives

The Independent UK

"It's gotten much more complicated": GOP's post-Roe abortion catch-22

Former President Trump and other Republican presidential hopefuls are skirting questions about what abortion policies they'd support if elected.

Axios

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Over $400 Billion in COVID Aid Was Stolen or Wasted

A new Associated Press analysis of government data suggests 10 percent of all COVID aid was lost to fraud or theft. That figure will likely grow.

Reason

The Covid con: How billions in coronavirus relief was stolen or wasted

Criminals and gangs grabbed the money. But so did a US soldier in Georgia, the pastors of a defunct church in Texas, a former state lawmaker in Missouri and a roofing contractor in Montana

The Independent UK

The Great Grift: Five things to know about how 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

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

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

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Tribune News Service

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…

Chicago Sun-Times

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.

The Independent UK

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

Chicago Sun-Times

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.

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Ballotpedia

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:

Fortune

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.

WEKU

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.

The National (Scotland)

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.

Bangkok Post

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.

Reason

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.

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.

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