Gautreaux is among a handful of Texans accused of trying to defraud the Paycheck Protection Program of the Coronavirus Aid, Relief, and Economic Security Act, or CARES, according to the Department of Justice. The loans are part of a $2 trillion bill that passed Congress late last month. As an SBA Preferred Lender , Texas First Bank has the knowledge and experience to process your loans quicker, more efficiently, and backed by the confidence of the US Government's Small Business Administration Office. Enroll to be notified of important PPP developments. The objective of the bill was clear: shovel federal money out the door to compensate for an economic slowdown as public health officials pleaded with Americans to stay home. Our most popular services during all economic times is the business certification program, procurement lobbying, and of course Texas Small Business Association ® membership. The CARES Act, however, created a host of oversight measures that include multiple agencies. Bank of Texas is a Preferred SBA Lender, which means we handle the loan in-house from cradle to grave with no interaction with the SBA, thereby providing a smooth process for both you and your banker. “For us, business essentially disappeared overnight.”. Check out the TruStage Auto Insurance Program to see what you might save. Perhaps it goes without saying — but producing quality journalism isn't cheap. The latter was the main expenditure mentioned in the indictment of Joshua Thomas Argires, from Houston. Run your business more efficiently with powerful cash management tools provided by CheckAlt. All users should perform their own due diligence and research, especially if they are connected with a third-party lender. Coss explained that easy access to stolen identities from massive security breaches, and technical advances to create fake ones offer fraudsters opportunities to scale their operations significantly. First Service offers small business loans through the Small Business Administration (SBA) to help kick-start or expand your business. Day of the Dead: Keeping the spirits alive and happy in a difficult year in... Fifth Circuit stays ruling allowing multiple ballot dropoff sites. Goldstein explained that by April 16, about two weeks after the PPP program began, almost 135,000 loans were already approved in Texas. This credit union is federally insured by the National Credit Union Administration (NCUA), a U.S. Government Agency. “Everybody’s trying to do their best, but it’s difficult,” he said. It just makes my frustration level go down a little bit.”. By accessing this link, you will be leaving First Service Credit Union's website. The U.S. Small Business Administration (SBA) reopened Economic Injury Disaster Loan (EIDL) to all eligible businesses on June 15, 2020. For decades Texas SBA ® has distributed resources to the small business community during times of emergency, financial need, and economic prosperity. The PPP process will go through banks while the EIDL program involves an online application. But even though Texas received fewer loans among the top three states, it has the largest share of all fraud cases prosecuted by the DOJ, with over 20% as of the end of August. If operators use the money to hold on to their staffs, the loans will ultimately be forgiven. Janie Barrera is the president and chief executive officer of LiftFund, the San Antonio-based group aiming to help small-business owners.
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