UPDATE: Details on Loans for COVID-19 Impacted Small Biz
March 12, 2020On Wednesday night, President Donald Trump addressed the nation from the Oval Office with formal remarks outlining some of his administration’s key proposals to address the health and economic implications of the coronavirus. Trump outlined his plans to provide a three-month tax deferral plan for individuals and small businesses as...
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SEC to Update “Accredited Investor” Rule
February 19, 2020On Dec. 18, 2019, the Securities and Exchange Commission (SEC) voted to propose amendments to the definition of “accredited investor,” one of the principal tests for who is eligible to participate in private capital markets. The proposed rule—Amending the “Accredited Investor” Definition—seeks to update and improve the definition to more...
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SBA Lending Rule Changes
February 12, 2020Late last week, Senate Committee on Small Business and Entrepreneurship Chair Marco Rubio sent a letter to SBA Administrator Jovita Carranza calling for a delay to an interim final rule on SBA express loans. In his letter, he states, “I am deeply concerned that this rule will have a detrimental...
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Senate Committee OKs SBA Nominee
December 18, 2019Earlier today, Dec. 18, the U.S. Senate Committee on Small Business and Entrepreneurship held a meeting where they voted to approve the nomination of Jovita Carranza, President Trump’s nominee to head the U.S. Small Business Administration (SBA). The committee voted 17:2 to approve Carranza’s nomination which will now move to...
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NSBA Warns Against 7(a) shutdown
September 4, 2019Earlier this week, NSBA and the Small Business Access to Capital Coalition urged Congressional leaders to avoid an Oct. 1 shutdown of the SBA 7(a) loan program.
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Webinar: Why FICO Matters
April 5, 2019NSBA members are invited to participate in a webinar entitled, “Financial Innovation and FICO Score: What Does it Mean for Small Business and Consumers” on Wednesday, April 17 at 1:30 p.m. EDT.
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SEC to Ease Reporting for Smaller Companies
July 11, 2018The SEC recently voted to expand the definition of a “smaller reporting company” and ease requirements for more small firms seeking investment.
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Supreme Court Sides with Amex Over Swipe Fees
June 26, 2018The Supreme Court this week ruled in favor of Amex on the issue of swipe fees, narrowing the options small businesses have to reduce costly swipe fees.
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New GAO Report on SBA “Credit Elsewhere” Rules
June 20, 2018Recently, the GAO released a report showing that almost half of the reviewed loans under SBA’s 7(a) loan program in 2016 didn’t adhere to the “credit elsewhere” requirement.
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