SBA Today – Details, episodes & analysis

Paul Long and Tonya Mazurek bring the latest insights from SBA Today, emphasizing the importance of understanding the "why" behind lending practices.

They explore the significance of sharing loan success stories within teams and how this can enhance purpose-driven work. They also unravel details from the recent SBA Connect Call, highlighting topics such as loan guarantee stats, working capital pilot programs, and subordination on EIDLs.

This episode blends practical advice with insightful commentary, aiming to keep listeners informed and engaged in the world of SBA lending. 

Key Takeaways: 

• Understanding the "why" behind SBA lending can greatly enhance team motivation and satisfaction.
• The SBA Connect call highlighted several updates, including procedures and expected response times at the Loan Guarantee Processing Center (LGPC).
• Thoughts on WHY The Working Capital Pilot Program is Underutilized 

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer. 

Are you a business owner or prospective business owner? Let’s see how we can help you.

If your business or perspective business is in: Washington, Oregon, or Idaho contact Paul Long at Gesa Credit Union plong@gesa.com

Colorado, Texas, Missouri, Florida, Arizona, and Tennessee contact Tonya Mazurek at Midwest Regional Bank tmazurek@mwregionalbank.com 

📰 It’s a new Year!! You are all at 0.00 Congrats! So who won the award?

📰 SBA Guzman testify at the Small Business Committee

💡 What would you say?

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer. 

Are you a business owner or prospective business owner?

Let’s see how we can help you.

If your business or perspective business is in: Washington, Oregon, or Idaho contact: Paul Long at Gesa Credit Union plong@gesa.com

Colorado, Texas, Missouri, Florida, Arizona, and Tennessee contact: Tonya Mazurek at Midwest Regional Bank tmazurek@mwregionalbank.com 

• Importance of Consulting SBA Lenders: During four critical business phases—startup, expansion, acquisitions, and rapid growth—seeking advice from SBA lenders can be pivotal.

• Export Loan Guarantees: SBA programs offering 90% guarantees for export loans can significantly lessen the perceived risk for banks.

• Veteran Benefits: New bipartisan legislation is aimed at providing veterans starting businesses in underserved communities with substantial tax credits.

We’ve got:

📰 Get Ready! Small Business Loan losses will be higher that the last 10 years

📖 SBA Lender at a Dental Practice

💡 Sellers are more willing to offer seller financing and Earnouts

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.

📰 New Working Capital Program - What We Know

📖 “A dog is a dog is a dog”

💡 The Scoop on the Restaurant Industry

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.

We’ve got:

📰 IBusiness Funding purchased Funding Circle, Best and Worst Performing Industries for SBA Lending 

💡Lender Receivables is Going away in ETRAN. 

It’s July 2nd, 2024 and this is SBA Today.

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.

We’ve got:

📰 Diving into the SBA Connect... Reader's Digest Style

💡 Clients may be using your bank for deposits BUT not much else….

It’s July 16th, 2024 and this is SBA Today.

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.

We’ve got:

📰 Top Stories - Restaurant Sales Prices are Up

💡 During Job Interviews, Employers say recent college graduates have…

📖 Tonya's Stories from Abroad

Disclaimer: The views expressed on this show are our own and not necessarily the views of our employer.

Welcome to another episode of SBA Today, with your hosts, Paul Long and Tonya Mazurek.

This week's episode, airing for the week of June 11th, dives into the intricacies of the new SBA working capital program, the implications of the SBA's proposed budget, and the latest on penalties and fees.

Tonya also shares a personal anecdote about learning from different generations that seamlessly ties into broader business insights.

Here are the highlights:

• Prohibition on Direct Lending: The House's proposed FY 2025 budget includes a prohibition on SBA direct lending, highlighting the ongoing debate around SBA's role in direct lending.

• New Working Capital Program: The SBA's new pilot program for working capital offers up to $5 million in credit lines with significant guarantees, aiming to be more appealing for both lenders and borrowers.

• Increased Penalties and Fees: Due to inflation, increased penalties and fees are coming into place for non-compliance, underscoring the need for vigilance and timely reporting by SBA lenders.

• Spike in New Business Applications: April saw a significant surge in new business applications, marking the highest numbers since 2004 and indicating robust entrepreneurial growth.

Your hosts, Paul Long and Tonya Mazuerek, unpack the latest SBA news as of June 4th, 2024.

• New Criminal Justice Rule: The rule, effective May 30th, affects the SBA loan application process, particularly in how it handles applicants with certain criminal backgrounds.

• SBA Form 413 Updates: Changes are coming to the SBA Form 413 to improve accessibility and compliance, impacting both lenders and borrowers.

• SBA's Challenges in Fraud Prevention: Discussion around the SBA's efforts to curb the $200 billion in potentially fraudulent Covid-19 EIDL loans.

• Moral and Ethical Considerations: Tonya and Paul discuss the ethical implications of fraud and the importance of integrity in business practices.

• Role of Key Employees: The definition and implications of 'associates' under the new criminal justice rule,