Minnesota is in hot water. The Small Business Administration (SBA) has put a freeze on nearly 7, 000 loans. Why? Because there's a big fraud scandal brewing. These loans, worth up to $400 million, were given out during the COVID-19 pandemic. The idea was to help small businesses, but it seems some p
Running a small business is tough. There are many tasks to handle, like paying employees and sending bills to customers. Getting a loan can be even tougher. But did you know that smaller banks say yes to more loans than big ones? According to a recent report, small banks approve 82% of applications.
The Department of Justice (DOJ) recently revealed a significant fraud case involving COVID-19 relief funds. A total of 18 individuals were indicted, with 14 arrests made in the Los Angeles area. This group is accused of stealing over $25 million in COVID-19 relief funds and federal small business lo
Starting a business is a big challenge. It is even more difficult when you have to deal with high costs. These costs include rent, labor, and taxes. Living near the coasts in the U. S. can make it even harder. This is because costs are generally higher in these areas. A recent study highlighted the
Vice President Kamala Harris has rolled out a new plan aimed at supporting Black men across various aspects of life. This agenda, unveiled on Monday, includes measures to assist entrepreneurs, educators, and those involved in digital currencies. It also addresses health issues that disproportionatel
The Federal Reserve is poised to make a crucial decision - cutting its key interest rate, which has been widely anticipated since the Covid-19 pandemic. The rate cut serves as a benchmark for borrowing costs across the economy, and investors are eagerly waiting to see how big the cut will be. While
The Federal Reserve is on the verge of announcing a series of interest rate cuts, which could have a significant impact on the economy. The decision to cut rates comes after a long period of steady increases, which had left borrowing expensive and made it difficult for consumers and businesses to in
Donald Trump has often painted a picture of himself as a self-made billionaire, bootstrapping his way to the top. But what if the story's a little more complicated than that? Trump frequently claims his father, Fred Trump, gave him a small loan of $1 million to kickstart his business career. This na
Spiro's Deli, a Glenview institution since 1962, is packing its lunchboxes and heading downtown! The village is shelling out $595,000 to help them move and build a spiffy new spot. Sounds great, right? But hold your horses, folks. Let's take a closer look at this deal. Who benefits? The village cla
