A former bank vice president in Wichita Falls, Texas was sentenced to four years in federal prison for a fraud scheme involving fraudulent Paycheck Protection Plan and Economic Injury Disaster loans, ...

This story has been updated with information from a Wednesday afternoon court appearance. SIOUX FALLS, S.D. (KELO) – A Sioux Falls man faces felony charges related to an alleged scheme of identity ...

Rep. Roger Williams, chairman of the House Small Business Committee, has been critical of the Small Business Administration's handling of the EIDL portfolio. Nearly three years after a consultant ...

Adolphus Obioha told a federal judge he made an honest mistake when he applied for a pair of small-business loans totaling more than $426,000 during the height of the COVID-19 pandemic. In his loan ...

After years of deliberation, the Small Business Administration has decided that it will not sell one of its pandemic-era loan portfolios–one that has an estimated default rate in the double-digits. It ...

A Baton Rouge business owner was federally indicted, accused of using federal small business loans to buy himself a new car and wire more than $170,000 overseas. Adolphus Obioha, 64, received a ...

The Small Business Administration would be mandated to send many loans made under the Covid Economic Injury Disaster Loan program to the Treasury Department for collections under legislation put forth ...

In 2020 and 2021, COVID-19 Economic Injury Disaster Loans (EIDL) were a lifeline for small businesses. But now, some small businesses are having trouble paying them off. And a Small Business Credit ...

Two new laws will aid the SBA's efforts to combat fraud in popular Covid-19 relief programs. Here's what businesses need to know. President Joe Biden signed into law two new pieces of legislation to ...

The Small Business Administration (SBA) is giving entrepreneurs a 60-day goodwill grace period to pay back COVID-19 PPP and EIDL loans under $100,000. The Small Business Administration (SBA) is giving ...

Businesses and nonprofits having trouble repaying their COVID-19 Economic Injury Disaster Loan can avoid a costly default by requesting to make smaller “hardship” payments for a period, an official ...

President Joe Biden signed into law two new pieces of legislation to give the government more time to tackle fraud in the Small Business Administration’s many Covid-19 rescue programs. The PPP and ...