#Covid-19 SBA Loans

[mfi-miami]

Miami Real Estate Influencer Arrested On Federal Fraud Charges

Miami Real Estate Influencer Daniela Rendon Arrested On Federal Fraud Charges For Misusing $381,000 In COVID-19 Relief Funds Federal authorities have arrested Miami real estate influencer and broker Daniela Rendon. They have accused Rendon of allegedly using COVID-19 relief funds to fund a lavish lifestyle. Rendon’s lavish lifestyle consisted of private jets and luxury yachts. In addition, they…

[youtube-asbcapitalloanfunding]

Simple Funding Approvals from $10k-$2M based on your monthly sales.

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COURTESY OF : ASB Capital Loan Funding

[darkmaga-returns]

Finding: Lackluster Oversight Resulted in Transnational Criminal Organizations and Fraudsters Stealing U.S. Taxpayer Money from Pandemic Relief Funds

International criminal organizations and foreign government-affiliated actors exploited the urgency of relief programs and orchestrated sophisticated fraud schemes that span multiple countries.

Chinese government-linked hackers stole at least $20 million in U.S. Government COVID-19 relief funds

An USSS investigation revealed that hackers affiliated with the Chinese government, specifically identified as APT41, were implicated in theft of $20 million of U.S. Government COVID-19 relief funds

APT41 has a history of fraudulent activity in the past, specifically traditional unemployment insurance fraud against SBA across dozens of states

APT41 also has a history of espionage activities on behalf of the Chinese government, including attacks on pro-democracy politicians in Hong Kong and data breaches affecting more than 100 organizations

A Nigerian fraud ring stole $10 million in pandemic relief funds

Mr. Abemdemi Rufai, a Nigerian government official, organized a large-scale cyberfraud scheme—named Scattered Canary—targeting COVID-19 relief funds

Scattered Canary, a business email compromise operation, filed at least 174 fraudulent unemployment claims in Washington state and 17 in Massachusetts that were all accepted, all with an expected payout of $5.4 million

An Indian national stole $8 million in a COVID-19 relief fraud scheme

A federal grand jury in Newark, New Jersey indicted an Indian national for submitting fraudulent PPP loan applications totaling more than $8.2 million

The defendant submitted at least 17 applications on behalf non-existent companies, using false information about employees and payroll

He also fabricated tax filings on behalf of a non-existent business to receive more relief payments

He reportedly received $3.3 million in loan proceeds which he then laundered

Domestic and International Fraudsters that Stole from Pandemic Relief Programs were also Connected to Other Organized Crimes

Fraudsters involved with stealing millions of dollars were also involved in other federal crimes including wire fraud and drug smuggling

DOL IG has continued to connect abuse of UI relief funds to organized criminal groups

The National UI Fraud Task Force was created to combat fraud of UI perpetrated by domestic and international criminal organizations, many of which include street-level criminal organizations with ties to illegal guns and drugs

The U.S. Attorney's Office charged six individuals, including two Maryland State Department of Labor subcontractors, with participating in a conspiracy to fraudulently obtain $3.5 million in UI benefits

The lead defendant now faces separate narcotics and firearms charges, including allegations that he unlawfully possessed a machine gun in furtherance of a drug trafficking crime

Another convicted felon charged with CARES Act fraud also committed firearm offenses and possession with the intent to distribute fentanyl

The U.S. Attorney's Office for the District of Maryland targeted cases with connections between COVID-19 fraud and individuals involved with violent crime, organized criminal networks, business email compromise schemes, and narcotics distribution

[usafundingapplications]

Unlocking Opportunities: How USA Funding Applications Empower Businesses to Thrive

Funding applications in the United States play a pivotal role in supporting individuals, organizations, and businesses by providing access to financial resources for various purposes. These applications are a formal process of requesting grants, loans, or other financial aids from government agencies, private foundations, or other entities. This article explores the concept of USA funding applications and delves into how grants positively impact small and large businesses alike.

Understanding USA Funding Applications

Funding applications are forms or documents submitted to secure financial assistance for a specific project, business need, or personal endeavor. They often include detailed proposals, budgets, and justifications that demonstrate the applicant's need and ability to effectively use the funding. In the U.S., funding opportunities exist for:

Small businesses

Nonprofits

Educational institutions

Individual entrepreneurs

Large corporations

Types of Funding Sources

USA funding applications can be directed toward various sources, including:

Federal Grants: Provided by agencies such as the Small Business Administration (SBA), Department of Agriculture (USDA), and Department of Energy (DOE).

State and Local Programs: These focus on region-specific development, such as urban revitalization or rural infrastructure.

Private Foundations and Corporations: Many businesses offer grants or funding programs to align with corporate social responsibility goals.

How These Grants Help Businesses

1. Facilitating Startup Growth

Small businesses often struggle to secure the capital needed for initial operations. Grants from organizations like the SBA provide seed funding that eliminates the need for traditional loans, reducing financial pressure on startups.

Example: The SBA's 7(a) Loan Program supports small businesses with funding for working capital, real estate purchases, or equipment financing.

2. Encouraging Innovation

Federal grants often prioritize innovative businesses in technology, healthcare, and environmental sustainability. Programs like the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) fund research and development (R&D), helping companies bring cutting-edge products to market.

Example: A biotech firm can use SBIR funds to develop life-saving drugs or advanced medical devices.

3. Supporting Women, Minorities, and Underserved Communities

Targeted grants are designed to empower underrepresented groups, leveling the playing field for women entrepreneurs, minority-owned businesses, and businesses in rural areas.

Example: The USDA's Rural Business Development Grant aids small businesses in rural regions, fostering economic growth in areas often overlooked by traditional investors.

4. Bolstering Economic Resilience

Large-scale businesses also benefit from grants during economic crises. For example, relief funds provided during the COVID-19 pandemic helped companies of all sizes remain operational, preventing widespread layoffs and economic collapse.

Example: The Paycheck Protection Program (PPP) distributed billions to ensure businesses could retain employees during the pandemic.

5. Expanding Market Opportunities

Grants often fund market research, advertising campaigns, and international expansion, allowing businesses to scale effectively.

Example: Export grants from the International Trade Administration help businesses penetrate global markets.

Application Process for USA Funding

Identify the Right Grant: Research funding opportunities that match your business needs. Federal websites like Grants.gov and local resources are excellent starting points.

Prepare a Detailed Proposal: Highlight the purpose of the funding, how it aligns with the grantor’s goals, and provide a comprehensive budget.

Submit Required Documentation: Include business plans, tax documents, and other requested materials.

Follow Up and Stay Compliant: Ensure compliance with grant terms to maintain eligibility for future funding opportunities.

Challenges in the Funding Process

High Competition: Many businesses vie for limited funds, requiring standout applications.

Complex Application Procedures: Navigating technical jargon and extensive documentation can be overwhelming.

Grant Restrictions: Funds often come with stipulations on how they can be used, limiting flexibility.

Conclusion

USA funding applications serve as a critical lifeline for businesses of all sizes. From providing initial capital to fueling innovation and expansion, grants enable businesses to thrive in competitive markets. While challenges exist, understanding the application process and leveraging available resources can help businesses unlock significant opportunities.

With the proper approach, businesses can utilize grants to create jobs, foster innovation, and contribute to the broader economy, ensuring sustainable growth and success.

[its-suanneschafer-author]

Continuing my review and summarization of Project 2025, Chapter 25 covers the Small Business Administration.

The SBA was established in 1953 to help Americans start and build strong businesses and received ‘fair proportion’ of government contracts and sales of surplus property and free or low-cost management and business training.

1. Estimates that the Paycheck Protection Program cost $78.1 billion in fraudulent claims.

2. The SBA received over $760.9 billion in supplemental appropriations to assist small businesses adversely affected by the novel coronavirus (COVID-19) pandemic

3. SBA has a history of mismanagement

4. Get rid of DEI and the SBA’s request to become a “designated voter agency” to promote access to voting

5. End SBA direct lending

6. Bring in private-sector support and expertise to close out the fraudulent COVID-19 loans and grants

7. If an investigation uncovers evidence that Planned Parenthood affiliates or any other loan recipients knowingly misrepresented their eligibility in their applications, the SBA should make appropriate referrals to the Department of Justice.

8. Allow religious entities to participate in SBA loans

[kirlewlawfirm]

What Are Some Common Issues With PPP Loan Applications?

The SBA-backed PPP (Paycheck Protection Program) loans were enacted under the CARES Act to help eligible businesses get on their feet during the COVID-19 pandemic. The government made these loans widely available without discernable criteria and lax regulation.

1. Inaccurate Documentation

Inaccurate or incomplete documentation can occur. Errors or omissions in payroll reports, tax filings, and other documents can trigger investigations and lead to potential PPP loan fraud charges.

2. Misrepresentation of Business

Failure to comply with the program’s requirements, including misstating your business information, such as exaggerating employee numbers or inflating payroll figures, can result in an investigation and charges.

3. Failure to Use Funds Appropriately

Using the PPP loan fund for unintended purposes can result in fraud allegations. Hiring a qualified lawyer to respond appropriately to your fraud charges is crucial. You do not want to end up being charged without first consulting with a reputable white-collar defense attorney.

4. Multiple Loans Applications

If you have applied for multiple PPL loans throughout different entities, it can lead to a fraud investigation and an indictment in federal court.

5. Lack of Legal Guidance

Navigating fraud charges without expert help can lead to mistakes. You must consult a white-collar defense attorney in Miami, FL, to protect your rights, build a strong defense, and ensure justice is served.

Trust the Kirlew Law Firm for PPP Loan Fraud Defense

PPP loan fraud can lead to significant penalties. Fraud accusations can also harm your business standing. If you are facing PPP loan fraud charges, you require expert legal assistance. Contact Brian Kirlew, Esq., and the Kirlew Law Firm for a free phone consultation. Call us at 305-521-0484 or visit us online at https://kirlewlawfirm.com/white-collar/ppp-loan-fraud. We can offer personalized guidance and expert guidance to protect your reputation, provide ongoing support, help mitigate penalties, and educate you on the best way forward. Our expertise can get you through these difficulties with ease.

[erc-service]

Employee Retention Credit / ERC and PPP

Following the outbreak of the COVID-19 pandemic, businesses have been faced with two primary avenues for financial assistance: Paycheck Protection Program Loans (PPP) and Employee Retention Credit (ERC). This article aims to give a comprehensive introduction to ERC Services options, analyze their advantages and drawbacks, and address the common inquiries businesses have regarding their eligibility for both the ERC and PPP.

The CARES Act introduced the Paycheck Protection Program (PPP), which is overseen by the U.S. Small Business Administration (SBA). It offers loans to small business proprietors who have suffered financial setbacks due to the COVID-19 pandemic. These loans can amount to a maximum of $10 million and are aimed at assisting with various expenses, including payroll and eligible expenditures.

[jadesbyu]

Employee Retention Credit

Covid 19 Funds Available

Did you loose any income as an employer during Covid? If so I am sorry to learn that but I do have some good news to offer you. Take a read of the following and see if you qualify for any of the following Credit Compensations:

Here is a list of businesses that have collected already: Pet Hotel, Education Co., Restaurants, Design Co., Home-care, Construction Co., Shipping Co., and Dental Practice. You could very well have yours added to this list.

Approved businesses receive up to $26K per employee

• Access to refunds is available in days, NOT months for eligible applicants

• Recipients use the refund as they choose

• ERC is a cash refund, not just a tax credit

• PPP loan recipients may be eligible

• Fast application process with trained tax professional support

• ERC is not a loan and does not need to be repaid

• Applicants receive a free tax credit estimate and no cost until the refund is received

Now while we are passing this information to you, here are somethings that you might not know as well. We do all types of Business and Equipment Financing from $1K – $10M, SBA 7(a) & (Express) Fallout / Conventional Term Financing, from $1K to $5M, Commercial Real Estate Financing (Bank and Non-Bank) Mortgages from $25K to $175M.

The reason for this email being this short, is that I wanted this information to be direct and to the point. However whatever you need information on simply send me an email with your query and you will receive a speedy reply.

Winston Elias

Email:Winston@LoansAndFactoring.com

[andronetalks]

Watchdog Says Business-Loan Fraud During Pandemic Exceeded $200 Billion

National Review By JEFF ZYMERI June 27, 2023 4:31 PM A Tuesday report from the Small Business Administration’s (SBA) internal watchdog explained that over $200 billion of the business loans the agency disbursed during the Covid-19 pandemic went to fraudsters, equivalent to 17 percent of all loans disbursed. Read more…

[skycreditloans]

Small businesses can benefit from the economic injury disaster loan NYC if they face problems as a result of the Covid-19 epidemic or disaster. They have a low-interest rate, can be repaid over 30 years, and can assist in covering operating costs for up to six months. The SBA will review your credit to determine your score if you apply. If you're aiming to raise your credit score, keep in mind that this credit draw may reduce it by a few points. 

[mystlnewsonline]

Denish Shadevan a.k.a. Danny Devan Pleads Guilty

Denish Shadevan, a.k.a.  Danny Devan, Pleads Guilty to wire fraud, aggravated identity theft, and money laundering. Greenbelt, MD (STL.News) Denish Sahadevan, a/k/a “Danny Devan,” age 31, of Potomac, Maryland, pleaded guilty today to wire fraud, aggravated identity theft, and money laundering, relating to his scheme to defraud lenders and the Small Business Administration (“SBA”) of more than $1.2 million in Paycheck Protection Program (“PPP”) loans and Economic Injury Disaster Loans (“EIDL”). The guilty plea was announced by United States Attorney for the District of Maryland Erek L. Barron; Special Agent in Charge Thomas J. Sobocinski of the Federal Bureau of Investigation, Baltimore Field Office; and John T. Perez, Special Agent in Charge, Headquarters Operations, Office of Inspector General for the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau. The Coronavirus Aid, Relief, and Economic Security (“CARES”) Act was a federal law enacted in March 2020 to provide emergency financial assistance to Americans suffering from the economic effects caused by the COVID-19 pandemic.  Financial assistance offered through the CARES Act included forgivable loans to small businesses for job retention and certain other expenses, through the PPP, as well as EIDLs to help small businesses meet their financial obligations, both administered through the SBA. According to the plea agreement, beginning in about March 2020, Sahadevan submitted EIDL and PPP applications on behalf of four Maryland entities that he controlled, often creating fraudulent and fabricated documents, such as tax forms and bank statements, to be used in the applications.  In addition, Sahadevan used the identifying information belonging to a tax preparer that he knew, without that person’s knowledge or agreement, to legitimize the fabricated tax forms he created and submitted. Specifically, Sahadevan admitted that he used his home in Rockville, Maryland, to create the fabricated documents and electronically apply for EIDL and PPP loans.  Sahadevan applied for approximately 71 PPP loans totaling approximately $941,794.75 and successfully obtained approximately $146,000 in PPP benefits.  Sahadevan applied for and received eight EIDLs totaling $283,900.  On the EIDL loans, Sahadevan induced his father into becoming a co-signer for the loan, then forged his father’s signature on the loan application.  Sahadevan’s father would not have agreed to sponsor the loan had he known of its fraudulent nature and contents. As detailed in the plea agreement, Sahadevan caused the fraud proceeds to be deposited into bank accounts he opened specifically for that purpose, then laundered the funds by engaging in several monetary transactions, including purchasing and trading securities and cryptocurrency, settling personal debts, and making payments to his girlfriend. In addition, between December 16, 2021, and January 10, 2022, Sahadevan applied to a financial institution for a $1,336,000 loan to purchase a property in Potomac, Maryland.  In the loan application, Sahadevan failed to disclose the $283,900 he owed to the United States for the EIDL benefits he fraudulently received.  Relying on Sahedevan’s representations, the financial institution approved the loan, which was used to purchase the Potomac property. On February 24, 2023, law enforcement executed a search warrant at Sahadevan’s Potomac residence and recovered multiple electronic devices, a can containing approximately 18 driver’s licenses belonging to other individuals, what appeared to be a gold physical Bitcoin in a black case, and approximately $17,043 in cash found in a suitcase in a bedroom closet.  Cash and Bitcoin constitute proceeds of the fraud scheme. As part of his plea agreement, Sahadevan will forfeit the cash and Bitcoin seized during the search on February 24, 2023, and will be required to pay restitution and a forfeiture money judgment of at least $429,906. Sahadevan faces a maximum sentence of 20 years in federal prison for wire fraud; a maximum of 10 years in federal prison for money laundering; and a mandatory sentence of two years in federal prison, consecutive to any other sentence imposed for aggravated identity theft.  U.S. District Judge Deborah L. Boardman has scheduled sentencing for September 21, 2023, at 2:00 p.m. The District of Maryland Strike Force is one of three strike forces established throughout the United States by the U.S. Department of Justice to investigate and prosecute COVID-19 fraud, including fraud relating to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act.  The CARES Act was designed to provide emergency financial assistance to Americans suffering the economic effects caused by the COVID-19 pandemic.  The strike forces focus on large-scale, multi-state pandemic relief fraud perpetrated by criminal organizations and transnational actors.  The strike forces are interagency law enforcement efforts, using prosecutor-led and data analyst-driven teams designed to identify and bring to justice those who stole pandemic relief funds. SOURCE: U.S. Department of Justice Read the full article

[paramountluxuryrentals-miam-blog]

TIPS FOR RENTING AN EXOTIC CAR IN MIAMI.

Miami, Florida, is known for its vibrant culture, beautiful beaches, and luxurious lifestyle. It’s no wonder that many visitors to the city are enticed by the idea of renting an exotic car to enhance their experience. With the rise of social media platforms like Instagram, it’s become easier than ever to find exotic car rental companies boasting about their services. However, not all these companies are created equal. To ensure a smooth and enjoyable experience, It’s important to choose the right rental company. Here are some tips for renting an exotic car in Miami to help you make the right choice.

CONSIDER THE COMPANY’S EXPERIENCE.

When you come across an exotic car rental ad on Instagram or any other platform. Take a moment to check when they started posting pictures. The duration of their presence in the business can be an indicator of their trustworthiness. It’s generally advisable to choose companies that have been in the car rental industry for 3 or more years. Their experience and longevity can provide you with more confidence in their services.

BEWARE OF COVID-19 RELIEF AND PPL LOAN CAR RENTAL START-UPS.

In 2021, many individuals received financial relief through SBA loans and PPP loans. Some individuals used this money to buy exotic cars and enter the rental market.

While not all start-ups are unreliable, it’s important to exercise caution. Some new rental companies with limited fleets might be tempted to overbook or cancel reservations if they receive a higher-paying offer. To avoid such situations, it’s generally safer to choose companies with a more established presence.

CHECK FOR A WEBSITE.

A reputable exotic car rental company should have a website. A website is an essential component of any legitimate business. It serves as a platform for showcasing their inventory and providing important information to potential customers. If a company you find on Instagram doesn’t have a website, it’s advisable to steer clear of them. A website adds an additional layer of credibility and transparency.

ASSESS THE WEBSITE AND INVENTORY.

Once you’re on the company’s website, take a look at its inventory and the overall appearance of the site. Trustworthy rental companies typically have a wide selection of cars available for rent, usually with 20 or more vehicles. Additionally, they strive to keep their website up to date, ensuring that the information you find accurately reflects their current offerings. If a company’s inventory is limited or its website appears outdated or dysfunctional, it’s best to consider other options.

VERIFY THE COMPANY’S REPUTATION.

A reliable exotic car rental company should have a verified Google Business listing with a functioning phone number and customer reviews. The Google Business listing allows customers to provide feedback and ratings based on their experiences. Checking these reviews can give you valuable insights into the company’s reputation and the quality of its services. If a company lacks a verified Google Business listing or has negative reviews, it’s wise to look elsewhere.

PAYMENT METHODS AND SECURITY DEPOSITS.

Before making a reservation, contact the rental company and inquire about the availability of the desired car and their accepted methods of payment. Trusted car rental companies typically have merchant accounts that enable them to accept various types of credit cards.

Avoid companies that request security deposits through platforms like Zelle, Venmo, Cash App, or Cash. Such methods pose a higher risk of not receiving your deposit back in case of any disputes. While it’s common for car rentals to accept cash for car rental payment, using it for a deposit is not recommended.

DOCUMENT DAMAGES FOR YOUR PROTECTION.

When the car is delivered, consider requesting a walk-around video for documentation purposes. This video can help you identify any existing damages and protect your deposit. Some companies may point out previous damages upon receiving the car from you and deduct the cost of repairs from your deposit. By having a video or detailed photos of the car’s condition at the time of delivery, you can dispute any unjust claims when returning the vehicle.

WHY CHOOSE PARAMOUNT LUXURY RENTALS?

Renting an exotic car in Miami can offer an exhilarating experience. But selecting the right rental company is essential to guarantee a stress-free and enjoyable time.

When you choose Paramount Luxury Rentals, you can expect professionalism, reliability, and an array of high-quality exotic cars to choose from. Their website showcases an extensive inventory. Allowing you to select the perfect vehicle to suit your preferences and needs. With a user-friendly interface and up-to-date information, their website reflects their commitment to transparency and customer convenience.

In addition, Paramount Luxury Rentals holds a verified Google Business listing, complete with positive customer reviews. Reinforcing its reputation for providing exceptional service. Their responsive customer support team is available to assist you throughout the rental process, ensuring a seamless experience from start to finish.

Paramount Luxury Rentals also offers flexible payment options, accepting various credit cards through their secure merchant account. This eliminates the need for risky payment methods and provides you with peace of mind regarding the safety of your transactions.

Upon delivery of your chosen exotic car, Paramount Luxury Rentals maintains a high standard of professionalism. Their representatives conduct a thorough walk-around video inspection. Allowing you to document any pre-existing damages to protect your deposit. This attention to detail demonstrates their commitment to transparency and ensures a fair and hassle-free rental experience.

CHOOSE US AS YOUR NEXT EXOTIC CAR RENTAL COMPANY.

By selecting Paramount Luxury Rentals as your exotic car rental provider in Miami, you can be confident in their excellent service, outstanding vehicle selection, and commitment to customer satisfaction. Enjoy a memorable and luxurious adventure in Magic City with a rental experience that exceeds your expectations.

Check out our rental policies and some exotic cars to book your car rental today: Lamborghini Huracan EVO Spyder Green, Rolls Royce Wraith Black, Lamborghini Aventador S Orange.

[ppploansblog]

ppp loan lookup

The following data was provided by the SBA & US Treasury Department showing a breakdown of all the name of companies who received PPP loans over $150,000. There is further data we’re working on for the loans under $150k however so check back in the future for that. The PPP / Cares Act that was put in place to help business affected by Covid-19. ppp loan lookup