Free Republic

Illinois just gained another data point for its reputation for public corruption. New revelations found that nearly 400 state employees improperly obtained federal Paycheck Protection Program (PPP) loans intended to keep small businesses afloat during the pandemic. PPP was created as part of the CARES Act to provide federally backed, forgivable loans to small businesses during the COVID-19 pandemic. It was signed into law on March 27, 2020. According to the Illinois Office of the Executive Inspector General, investigators found “reasonable cause” in 378 PPP-fraud cases involving state workers through June 2025 — about three-quarters of all cases reviewed, the...

Banks cut back lending to small businesses in 2009-10, with the nation's 34 largest banks accounting for almost half the decline, according to a report released Feb. 10 by the Office of Advocacy in the U.S. Small Business Administration.

My wife and I recently shot our wad on some high-grade advertising, in a desperate bid to resurrect our (formerly successful) small construction business. That advertising is suddenly producing new leads better than we ever imagined it would. Our phone is literally off the hook. We're being inundated with calls for our services, and are scrambling to answer them all. Trouble is, we're in no position to properly service all of this sudden demand, mostly due to the lack of some basic equipment, and a fully operational crew. Finding the qualified labor is no problem, but to produce the product...

THE conventional wisdom for months now has been that a combination of bail out money and low interest rates (next to zero) has ended the banking crisis. Yet evidence is growing that the banking system is far from healed -- that the crisis could very well make a comeback. Yes, the nation's largest banks and financial firms, like Citigroup and Bank of America, are healing -- or at least show no signs of imploding as they did a year ago. Shares of the major financial firms are up (even longtime basket case Citigroup) since the market tanked in March. And,...

The Small Business Administration (SBA) enlisted banks across the country to participate in a new loan program reserved for military veterans. The program features fast approval times, low interest rates and up to $500,000 to help start a business or expand one. The Patriot Express Loans Program offers rates of 2.25 percent - 4.75 percent over the prime interest rate, depending upon the size and maturity of the loan. The SBA also offers counseling and training for entrepreneurial veterans. For more information, visit the Patriot Express website.