Tag Archives: 7(a)

SBA Programs – Scams and Fraud Alerts

scams

The Coronavirus Aid, Relief and Economic Security Act (CARES Act) includes provisions to help small businesses. Fraudsters have already begun targeting small business owners during these economically difficult times.  Be on the lookout for grant fraud, loan fraud and phishing. Scams and Fraud Schemes Grants SBA does not initiate contact on either 7a or Disaster loans or grants. If you are proactively contacted by someone claiming to be from the…

Read More

SBA Loans Pump Cash into Economy

SBA loans

The Small Business Administration’s Lower Rio Grande Valley District saw an increase in the amount of money loaned to businesses in fiscal year 2017, even though there was a slight decrease in the number of loans approved. The LRGV district guaranteed 191 loans in the 7(a) and 504 loan programs. These programs combined provided more than $71 million to small businesses that created 633 jobs and retained 984. The loans…

Read More