Obtaining a loan for your small business isn’t always a simple task. Depending on the factors that are present in your situation, a lengthy vetting process may take place. Knowing what to expect ahead of time can be very helpful. Understanding Your Options Before probing into what exactly lenders are looking for, it’s important to…
The 5 Things Lenders Look for in Small Businesses Before Offering a Loan
Be Patient, Find Your Path—and Forget About Student Loans
Dear Dave, My husband and I are 30, and we are on Baby Step 2. He wants to go back to school and become a social worker. He currently makes about $20,000 a year as a teacher’s assistant, and he wants to take out student loans to do this. He already has an associate’s degree,…
There Are Better Options
Dear Dave, I’m coming up on a transition phase in my life. I’ll be leaving the military soon, and I’ve been evaluating my living situation once I am out. My parents said I could live with them for a while, but I am not sure that would work out well. I have done some research…
Companies at Risk From COVID-19 Lifeline Loans, Bank of England Warns
Many companies that took out emergency loans during the COVID-19 pandemic are now at risk of collapse because of those same loans, the Bank of England has warned. Companies across the UK that before COVID-19 would have been turned down for loans were able to tap into government-backed schemes during pandemic times. Now, many of…
‘Bachelorette’ Star, Co-host Under Fire for Receiving More Than $20,000 in PPP Loans for Being an Influencer
Article by Emily Rella During a time when so many small businesses were struggling and and trying to survive amid the pandemic, many applied for PPP (Paycheck Protection Program) government loans as a way to continue to pay their employees. The PPP, which was intended to be used by small businesses of under 500 employees, was classified as an…
Chinese National in New York Pleads Guilty to COVID-19 Relief Loan Fraud: DOJ
June 16, 2021
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A Chinese national has pleaded guilty after being accused of cheating the federal government and banks to obtain tens of millions of COVID-19 relief loans meant for small businesses. He could be sentenced to up to 32 years in prison, the Justice Department said in a June 15 press release. The 37-year-old New York resident,…
Co-sign a Loan? Never, Ever
Dear Mary: About 10 years ago, my daughter co-signed on an automobile loan for a friend. The “friend” skipped out on payments and left town, so they came after my daughter for payment. All these years later, she still has not paid anything on the loan. Is there a time limit for how long they…
Irvine Man Arrested on Federal Fraud Charges Involving PPP Loans
May 7, 2021
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SANTA ANA—An Orange County man was arrested May 7 on federal charges alleging he fraudulently obtained about $5 million in Payment Protection Program (PPP) loans for his sham businesses, then used the money on himself, including purchasing Ferrari, Bentley and Lamborghini sports cars. Mustafa Qadiri, 38, of Irvine, was named in a federal grand jury…
Republican Senators Seek to Stop World Bank From Funding Beijing
WASHINGTON— China, the second largest economy in the world has been exploiting the World Bank by receiving low-cost loans meant for poor nations, and it is time to stop this practice, say a group of prominent China critics in U.S. Congress. The Chinese economy has grown rapidly over the past four decades ,yet the World…
GOP Senators Propose Curbs on Low-Rate World Bank Loans to Beijing
WASHINGTON— China, the world’s second-largest economy, has been exploiting the World Bank by receiving low-cost loans meant for poor nations, and it’s time to stop this practice, a group of prominent China critics in the U.S. Congress say. The Chinese economy has grown rapidly over the past four decades, yet the World Bank still considers…
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