The US Department of Justice recently closed the most recent PPP fraud case and agreed to a plea deal with a Liberian citizen.
In the $ 23 million fraud case in which funds were illegally raised through the Paycheck Protection Program, Steven Jalloul, a 43-year-old tax advisor based in the Dallas area, admitted scamming lenders out of more of that Get money.
The PPP loan was launched last year to help keep small businesses afloat during the COVID pandemic. While benefiting millions of businesses across the country, it was vulnerable to fraud. And now it seems like the government is finally catching up with some of those who defamed the system.
This plea deal comes shortly after the first criminal sentence was passed in another COVID credit fraud case.
You can find more information about our top story at: Liberian National pleads guilty of $ 23 million in PPP fraud
Small Business News – October 29, 2021
Here’s what happens this week for small business owners from our regular news bulletin:
Current Food Scarcity – What Your Business Is Getting Hard To Get At Now
Food shortages and delays have been reported in the US, partly due to rising consumer demand amid the easing of coronavirus restrictions. The supply chain problems the US economy is currently facing are not only affecting consumers, but are also affecting small businesses.
Which states have the most and the least cybercrime?
Avoiding falling victim to cybercrime can be daunting for small business owners. Knowing the areas where cybercrime is less prevalent can be an invaluable step in averting online crime.
Small business funding opportunities for women and minority entrepreneurs
Access to capital has historically been difficult for women and minority business owners. These entrepreneurs have mastered this particular challenge, among other things, by applying for and receiving grants from private and public institutions. Check out what’s currently available.
Is it okay to use slang in business? New survey results can surprise you
Is the use of slang acceptable or objectionable in a business setting? To uncover thoughts about the use of slang in business, Preply, the online education platform that connects students and tutors remotely, has done extensive research.
Business Warrior is offering $ 5 million in loans
Business Warrior has announced it will offer $ 5 million to small business owners struggling to get loans from traditional banks. The company will provide $ 5,000 to $ 50,000 in loans without the exorbitant rates that cash advance companies charge.
SBA has been criticized for being unresponsive and slow to answer questions
In separate letters, members of Congress wrote to Isabella Guzman, Administrator of the Small Business Administration, saying that the SBA’s response to questions from small business owners is unresponsive and slow. Last week MPs Patrick McHenry (R-NC) and Blaine Luetkemeyer (R-MO) forwarded letters to Guzman.
Facebook is rolling out new small business tools ahead of the 2021 holiday season
The holiday season is approaching and marks an important time for small businesses. To help businesses get the most out of a time when many retailers expect to generate more than half of their annual sales, Facebook has launched a number of new tools.
Women responded to the pandemic by doing more e-commerce deals
Women have responded to the pandemic and its unprecedented disruptions with more e-commerce businesses. Research shows that eBay was a key factor in creating an environment for equitable entrepreneurship for women.
This is how you pay as an entrepreneur
Here’s the dilemma for entrepreneurs: business is growing and you want to reinvest some of the profits. But you’ve worked a long time and you have to make money. Where is the balance? How should you as an entrepreneur pay yourself? And how much? How do small business owners pay? Small owners have a choice in how they pay for themselves.
5 Pending changes that could affect small business tax planning at year-end
Congress has debated a number of major bills that include tax changes. Some of the proposed changes are beneficial; many are not. All of them can affect your bottom line. The final tax changes won’t be known for weeks and many won’t come into effect until 2022. But now watch out … the tax planning at the end of the year can be completely different this year than in previous years.
How to edit a PDF
The Portable Document Format (PDF) is one of the most popular media for exchanging electronic information. It was developed by Adobe Systems as an equivalent to digital paper in the early 1990s, and PDF has been used to share content in many ways ever since. People rely on PDF format because the files are smaller than their source documents and they retain their original formatting.