SBA: Biz Lending in Mass. Increased 11.9 Percent
More small businesses in Massachusetts were able to get loans backed by the U.S. Small Business Administration for 2023, increasing by 11 percent from last year.
SBA: Eastern Bank Is Top Small Biz Lender in MA
Eastern Bank approved the most amount of loans backed by the U.S. Small Business Administration in Massachusetts during the SBA’s fiscal year 2023, which ended in September
SBA Reports ‘Major Increase’ of Loans to Black-Owned Businesses
The US Small Business Administration reported an...
SBA Releases New Guidelines to Improve Small Biz Lending
The US Small Business Administration has announced changes to its popular 7(a) and 504 loan programs it hopes will make the process of getting a loan easier and seamless for small businesses.
SBA Lending Ticked Up in Mass. This Year
While the number of U.S. Small Business Administration loans increased slightly in Massachusetts, the total amount of lending fell during the most recent fiscal year.
SBA Criticized for Not Collecting on Smaller PPP Loans
The U.S. Small Business Association is coming under fire from its own inspector general for not collecting on smaller Paycheck Protection Program loans that were in default due to the costs involved.
SBA Extends COVID-Related EIDL Deferrals
Business owners who have received COVID-related Economic Injury Disaster Loans through the U.S. Small Business Administration now have more time before they need to begin repaying the loan.
Hull Man Sentenced for PPP, EIDL Fraud
A Hull man was sentenced to two years in prison for submitting fraudulent documentation to receive pandemic-related U.S. Small Business Administration loans.
Former Bank Loan Officer Charged in SBA Fraud Scheme
A Braintree resident and former bank loan officer has agreed to plead guilty to participating in a three-year scheme that involved submitting fraudulent applications to obtain loans from the U.S. Small Business Administration.
Salem Man Pleads Guilty to EIDL Fraud
A Salem man has pleaded guilty to a fraud scheme involving COVID-19 relief funds for small businesses.
Eastern Bank, Cape Cod 5 Among SBA’s Top Lenders
Eastern Bank was named a top lender for the 13th consecutive year by the Massachusetts district office of the U.S. Small Business Administration, and Cape Cod Five provided more loans to female entrepreneurs than any other Massachusetts lender.
New Data Shows Top Mass. SBA Lenders of 2021
In a year when Massachusetts businesses received nearly $6.9 billion in another round of Paycheck Protection Program lending, the U.S. Small Business Administration’s traditional loan programs also provided an additional $970 million in funding to small businesses.
Mike Vlacich Named New England SBA Administrator
A current adviser to U.S. Sen. Jeanne Shaheen will become New England’s next regional administrator for the U.S. Small Business Administration.
SBA Increases EIDL Loan Limit
The U.S. Small Business Administration has increased the borrowing limit for the COVID Economic Injury Disaster Loan (EIDL) program and made other changes to help small businesses affected by the Delta variant.
SBA’s Forgiveness Portal Receives 340K Applications
The U.S. Small Business Administration has received more than 340,000 submissions to its Paycheck Protection Program forgiveness portal since launching the tool two weeks ago for borrowers with PPP loans of $150,000 or less.
SBA to Launch PPP Forgiveness Portal for Smaller Loans
The U.S. Small Business Administration will launch a portal next week that will let borrowers with Paycheck Protection Program loans of $150,000 or less apply for forgiveness directly through the SBA.
George Hewett, SBA Specialist for Davis Malm, Dead at 66
George A. “Tony” Hewett, an attorney known for his work on U.S. Small Business Administration loans, died of cancer last month at the age of 66.
Most Mass. Restaurants Did Not Receive RRF Grants
The Restaurant Revitalization Fund has closed, and three-quarters of the Massachusetts restaurants that applied to the federal grant program did not receive funds.
Mass. Business Received Nearly $6.9B in PPP Loans This Year
The Paycheck Protection Program came to an end on Monday with small businesses affected by the pandemic receiving another $277.7 billion in forgivable loans this year.
Congress Extends PPP Deadline
The Senate passed a bill 92-7 on Thursday to extend the deadline for business owners to apply for forgivable loans through the Paycheck Protection Program, giving applicants two more months to apply for federal aid.
