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Log In / Register | Nov 23, 2014

Watch Day 4 of Natl Small Biz Week Online

Today's National Small Biz Week featured speakers are Fed Chair Janet Yellen and founder, owner and CEO John Schnatter of Papa John’s Pizza.

Obama Nominates Latina for SBA Administrator

Contreras-Sweet, Obama, Hulit
L-R: Contreras-Sweet, Obama, Hulit. Photo/Whitehouse

WASHINGTON— Last week Wednesday President Obama nominated small business banker Maria Contreras-Sweet to head the Small Business Administration. Contrera-Sweet, 58, started ProAmérica Bank in 2006, a California bank that focuses on small business loans in Latino neighborhoods.

GAO: Substantial Franchise Failure Rates of SBA Guaranteed Loans

The Government Accountability Office (GAO) has just released a report examining a subset of the substantial defaults in Small Business Administration (SBA) guaranteed loans to franchisees.

GAO Reveals SBA’s $1.5B Franchise Loan Headache!

Huntington Learning Centers

2011 OIG audit of Huntington's SBA loans started series of audits. photo/bmm

Audit after government audit is showing major problems with SBA-backed 7(a) franchise loans.These uncollectable bad loans to franchise owners are $1.5 billion, costing U.S. taxpayers.

SBA Enables Franchise Liar Loans, Chronically Fails to Act on Own Recommendations

The Small Business Administration's Office of Inspector General published yet another study highlighting the SBA's oversight failures as financial institutions continue underwriting franchise loans that do not meet SBA lending criteria.

Small Business Bankruptcies Falling, Incomes Rising

Small Business Bankruptices and Proprietor Income from the Office of Advocacy, SBA
Data: SBA's Office of Advocacy*

WASHINGTON — The Small Business Administration says that small businesses continue to show signs of economic recovery.

Government Warns Again: Franchises Do Not Succeed More than Small Businesses

A troubled KFC franchise in Kentucky gives up on its franchisor and closes its doors for good
A KFC franchisee in Kentucky gives up on its franchisor and closes its doors for good. photo/bluemaumau

LEXINGTON, Ky. — The Small Business Administration has declared yet again to the public that franchises have the same success rates as independent small businesses.

Franchise Loans Difficult to Get

Rick Kimsey, a twenty year veteran of the wireless telephone industry, decided he wanted to leave the increasingly competitive market of cell phones and invest where the grass looks greener - health care.

10 Most Active SBA Lenders

WASHINGTON, D.C. — Some of America's largest banks are among the ten most active lenders of Small Business Administration backed loans.

Obama Asks for Leaner Govt, Promotes SBA Head

In East Room, Obama asks Congress to give him authority to consolidate federal government agencies
photo: Lawrence Jackson, White House Photographer

WASHINGTON, D.C. — President Obama announced yesterday an initiative to merge commerce-related departments of the federal government into one entity and to promote the Small Business Administration head to Cabinet member. Franchisor and franchisee advocates are generally positive about the move.