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In the summer of 2020, while small businesses across America struggled to survive the economic devastation of the COVID-19 pandemic, Darren Carlyle Sadler was living a very different reality. The 38-year-old Costa Mesa businessman had discovered what he believed was the perfect opportunity hidden within the chaos of the federal government's rushed response to the crisis.

While this shift is being framed primarily as a consumer credit development, it has important, and likely underestimated, implications for the business lending space. For lenders that rely on personal FICO scores as part of their underwriting process, especially when evaluating small business owners, this is a game-changer.

NewtekOne's credit facility expansion represents a calculated bet on continued growth in alternative lending demand. Success will depend on the company's ability to maintain underwriting discipline while scaling operations, execute efficient securitizations, and navigate potential market volatility.

Stephanie Hockridge and her husband, Nathan Reis, co-founded Blueacorn in April 2020 at the height of the pandemic panic. The platform was positioned as a rapid-response solution for distributing PPP funds to small businesses locked out of traditional banking channels. But according to federal prosecutors, Blueacorn became a machine of fraud, processing over $12.5 billion in loans while implementing virtually no guardrails to prevent abuse.

The Consumer Financial Protection Bureau (CFPB) has once again delayed its compliance timeline for the Section 1071 rule under the Equal Credit Opportunity Act, reflecting ongoing concerns over readiness, legal challenges, and operational impacts for small business lenders.

Federal prosecutors continue their aggressive pursuit of Paycheck Protection Program (PPP) fraud, with two recent high-profile convictions demonstrating that the Department of Justice remains committed to holding fraudsters accountable nearly five years after the pandemic began.

The Loan Agent Oversight Act mandates the SBA's Office of Credit Risk Management to submit an annual report to Congress. This report must detail: The number of agents assisting loan applicants. The number of fraudulent loans linked to agent involvement. Referral fees paid by lenders to agents. This initiative stems from findings that, in 2023 alone, the SBA's 7(a) program issued 47,700 loans totaling $25.7 billion, with $335 million identified as fraudulent due to loan ag

Stephanie Hockridge, once a familiar face as a Phoenix news anchor, now stands at the center of one of the most significant fraud cases to emerge from the COVID-19 pandemic. Alongside her husband, Nathan (Nick) Reis, Hockridge is set to stand trial for alleged wire fraud and conspiracy related to the Paycheck Protection Program (PPP), a federal initiative designed to help small businesses survive the economic fallout of the pandemic.

“You should know that credit ratings understate credit risks because they only rate the risk of the government not paying its debt,” Dalio said in a post on social media platform X.

Banks argue that prohibiting charging fees for data access prevents them from recouping these expenses and managing related risks. Conversely, fintech firms advocate for the rule, emphasizing the benefits of seamless data sharing for developing innovative financial products and services.

We spoke with Curtis Sutherland, Head of Sales and Business Development at TAB Bank and a seasoned expert in ABL financing, to better understand what clients need to be ready for an asset-based loan.

They signal a clear thesis: Intuit is doubling down on owning more of the financial lifecycle, especially for small to midsize businesses (SMBs), where it already holds a strong foothold with QuickBooks

Other traditional banks and payments providers are also testing or considering a deeper involvement with stablecoins, from Standard Chartered to PayPal (PYPL) to Stripe. Money management giant Fidelity Investments has also begun testing its own stablecoin, according to the Financial Times.

Since June 2020, the defendants enriched themselves by defrauding small business owners interested in obtaining financing for their businesses. Through misrepresentations and falsehoods, the defendants promised their victims that in exchange for money provided upfront, the defendants would ultimately extend a loan or line of credit to the victims. In reality, once a victim provided the upfront payment to the defendants, the defendants did not extend financing to the victim.

The SBA is taking steps to strengthen the integrity of its loan programs with the implementation of new anti-fraud measures. These changes are being introduced with the stated support of the Department of Government Efficiency.

This decision ensures that Roglieri will remain in custody at the Rensselaer County jail until his trial this summer, underscoring the...