SBA announces $150,000 to fund Women’s Business Center in Tulsa

In June, President Joe Biden visited Tulsa to make an announcement to support contracting opportunities for small disadvantaged business owners, increasing the federal contracting commitment to 15 percent. The grant will support that goal by ensuring women are empowered to compete, and have access to resources to start, grow and scale.

Source: Tulsa World

SBA Gives a Break to Borrowers Who Are Appealing Their PPP Forgiveness Decisions

In its latest interim final rule (IFR), released June 28, the SBA now says anyone currently appealing their loan decision with its office of hearings and appeals can delay scheduled repayments.Prior to the ruling, borrowers were expected to begin making loan payments as originally scheduled, regardless of the status of their loan appeal. 

Source: INC

National Association of Federally-Insured Credit Unions Opposes Postal Banking, Calls for CDFI Funding

NAFCU expressed concerns that allowing the U.S. Postal Service to provide banking services will raise a number of serious regulatory and consumer protection questions. Instead, the organization proposes increased funding for the CDFI Fund and allowing all credit unions the ability to add underserved areas to their field of membership.

Source: NAFCU

SBA Celebrates Nearly 70 Years of Service to America’s Entrepreneurs

Last week, the SBA celebrated 68 years of service as a voice for America’s 30 million small businesses and innovative startups. From access to capital to life-saving disaster support, the SBA provides resources and guidance to over 30 million small businesses nationwide.

Source: Globe News Wire

Small Business Administration to Revamp PPP forgiveness in Bid to End Historic Program

The SBA has notified banks—which were responsible for issuing loans and processing forgiveness requests—that the agency is setting up its own online, consumer-facing forgiveness platform. 

Source: Politico