Latest news with #EconomicInjuryDisasterLoans
Business Upturn
a day ago
- Business
- Business Upturn
William Briggs Sworn in as Deputy Administrator of the U.S. Small Business Administration
By GlobeNewswire Published on July 23, 2025, 20:47 IST WASHINGTON, July 23, 2025 (GLOBE NEWSWIRE) — Today, following his confirmation by the U.S. Senate on July 9, 2025, William (Bill) Briggs was sworn in as the Deputy Administrator of the U.S. Small Business Administration at the SBA headquarters in Washington, D.C. 'I'm pleased to welcome Deputy Administrator Bill Briggs to the SBA as part of an incredible leadership team that is hard at work delivering results for America's job creators,' said SBA Administrator Kelly Loeffler. 'With a strong record of service at the agency and in the private sector, Bill will be a tremendous asset as we work to restore the SBA as an engine for opportunity and economic growth – and advance President Trump's agenda that will Make Main Street Great Again.' 'It's an honor to be back at the SBA and to continue my work serving America's small businesses,' said SBA Deputy Administrator Bill Briggs. 'Under the leadership of President Trump and Administrator Loeffler, our job creators are poised for a historic era of growth, innovation and prosperity. I'm excited to deliver that comeback to Main Streets across America – by empowering them with the capital, counseling, and contracting opportunities to thrive.' Briggs previously served as Acting Associate Administrator for SBA's Office of Capital Access during the first Trump Administration, where he played a leading role in the development and implementation of the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDL) during the COVID-19 pandemic. A Texas native and small business owner, Briggs brings over two decades of private sector experience to the role. # # # About the U.S. Small Business Administration The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Business Upturn
12-07-2025
- Business
- Business Upturn
Administrator Loeffler Joins President Trump to Offer Federal Support in Wake of Texas Disaster
By GlobeNewswire Published on July 12, 2025, 03:55 IST KERR COUNTY, TEXAS, July 11, 2025 (GLOBE NEWSWIRE) — Today, Kelly Loeffler, Administrator of the U.S. Small Business Administration (SBA), joined President Donald J. Trump in Kerr County, Texas to offer federal disaster relief after storms devastated the region. Alongside Department of Homeland Security (DHS) Secretary Kristi Noem, Department of Housing and Urban Development (HUD) Secretary Scott Turner, Department of Agriculture (USDA) Secretary Brooke Rollins, and members of Congress, Loeffler met with local leaders and received updates from state emergency management officials. 'The tragic loss of life in Texas Hill Country is truly heartbreaking – but the strength and the support of this community is clear,' said Administrator Loeffler. 'Our commitment extends far beyond today's visit, and this Administration is mobilizing every available resource to aid in recovery. As President Trump said, the full force of the federal government is behind Texas – including the SBA, where we are already offering disaster loans and on-the-ground support for residents and small businesses. Our prayers remain with the people of Texas, and we will continue to stand shoulder to shoulder with them on the road to recovery.' As the agency announced earlier this week, SBA disaster relief is now available for Texas small businesses, residents, and private nonprofit (PNP) organizations affected by severe storms, straight-line winds, and flooding in seven counties. The disaster declaration covers the primary Texas county of Kerr which is eligible for both physical disaster loans and Economic Injury Disaster Loans (EIDL) from the SBA. Small businesses and most PNP organizations in the following adjacent counties are eligible to apply only for SBA EIDLs: Bandera, Edwards, Gillespie, Kendall, Kimble, and Real. Currently, the SBA has more than 70 staffers on the ground in Texas to assist with disaster recovery. The agency has also opened its first Business Recovery Center (BRC) in Kerr County, where individuals may come to receive hands-on assistance with disaster loan applications: SBA Business Recovery CenterThe YES Center at First Presbyterian Church823 North StreetKerrville, TX 87028Monday-Friday: 9:00 AM – 6:00 PM CT Saturday: 9:00 AM – 1:00 PM CT Texans affected by the flooding are encouraged to visit or call SBA's customer service center at 1-800-659-2955 to learn more about available aid. # # # About the U.S. Small Business Administration The U.S. Small Business Administration helps power the American dream of entrepreneurship. As the leading voice for small businesses within the federal government, the SBA empowers job creators with the resources and support they need to start, grow, and expand their businesses or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
Yahoo
13-06-2025
- Business
- Yahoo
CT business owner admits to using $1.1M in COVID relief funds for travel, jewelry, cars
An East Granby woman has pleaded guilty to federal charges and has agreed to pay restitution in connection with a scheme in which authorities said she defrauded COVID-19 pandemic relief programs of more than $1.1 million. Karen Gaston, 44, appeared in federal court in New Haven on Thursday and waived her right to be indicted, according to the U.S. Attorney's Office for the District of Connecticut. She pleaded guilty to wire fraud and making illegal monetary transactions. According to federal authorities, Gaston in 2020 controlled a number of businesses, some of which were active while one was not and another had only one client. These included LNK, Elegant Clinical, Ruby Red LLC and Diamond Shine LLC. LNK and Diamond Shine LLC were operational but shared resources and employees, officials said. Ruby Red LLC had only one client and Gaston was its sole employee, according to authorities. Elegant Clinical was no longer operational. Beginning around April 2020, Gaston submitted loan applications to the Paycheck Protection Program (PPP) and for Economic Injury Disaster Loans (EIDL) — both of which provided emergency funds under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The applications Gaston filed 'falsely represented the status of the operations, resources and employees' of the businesses she controlled, according to federal officials. She also reportedly filed loan applications at separate financial institutions 'in order to disguise the true nature of her criminal activity,' officials said. The loan applications falsely represented that her businesses were all active and operating, authorities said. They also falsely represented the number of employees and the amount of wages purportedly paid to them, which were outlined in fraudulent tax returns and tax related documents, according to officials. Authorities said Gaston also falsely represented that a family member — who was used as an applicant on an application — was a part owner of one of the businesses. Gaston reportedly received a little more than $1.1 million in PPP and EIDL loan funds through the scheme, according to officials. Instead of using the funds for payroll or other operating expenses, she reportedly spent the money on 'personal expenditures, including travel, food, luxury home goods, expensive jewelry, cars and paying off her home mortgage,' the U.S. Attorney's office said. As part of the plea deal, Gaston has agreed to pay full restitution. She also agreed to forfeit a $39,521 ring she purchased in July 2020 from the jeweler Harry Winston. Gaston is free on a $100,000 bond while she awaits sentencing, which has not yet been scheduled. She faces a maximum of 30 years in prison.
Yahoo
12-06-2025
- Yahoo
East Granby woman pleads guilty to $1.1M pandemic relief fraud
EAST GRANBY, Conn. (WTNH) — An East Granby woman pleaded guilty Thursday to defrauding COVID-19 pandemic relief programs of more than $1.1 million, according to the department of justice. Shelton man pleads guilty to fraudulently filing for COVID-19 relief funds Karen Gaston, 44, controlled entities including LNK, Elegant Clinical, Ruby Red LLC and Diamond Shine LLC. LNK and Diamond Shine LLC were operational, but shared resources and employees. Ruby Red LLC had only one client and Gaston was its sole employee and Elegant Clinical was no longer operational. Beginning in April 2020, Gaston allegedly submitted loan applications to the Paycheck Protection Program (PPP) and Economic Injury Disaster Loans (EIDLs), two pandemic-era resources, that falsely represented the status of the operations, resources and employees of these entities. She also filed loan applications at separate financial institutions in order to disguise the true nature of her criminal activity. She received over $1.1 million in PPP and EIDL loan funds through this scheme, spending the money on personal expenditures, including travel, food, luxury home goods, expensive jewelry, cars and paying off her mortgage. She's facing a maximum 30 years in prison and has agreed to pay full restitution. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
11-06-2025
- Business
- Yahoo
SBA offering low-interest loans to tornado-affected residents
The U.S. Small Business Administration is offering low-interest disaster loans to individuals, businesses, and nonprofits impacted by the May 16 tornado that struck Laurel County. As of press time Tuesday afternoon, 79 — 61 homes, 13 businesses, and five EIDL (Economic Injury Disaster Loan) — Kentuckians have applied for an SBA disaster loan, and 17 home loan applications have been offered for just over $2.8 million. Eligible residents can receive in-person assistance at a Business Recovery Center now open in London. The center is at the Kentucky Highlands Investment Corporation, located at 440 Old Whitley Road. It is open Monday through Friday from 9 a.m. to 6 p.m. through July 2. SBA representatives are available on site to help applicants complete their forms and answer questions about loan programs. The SBA is providing several types of loans for those who suffered damage from the storms: — Business Physical Disaster Loans: Up to $2 million for businesses to repair or replace damaged property, equipment, inventory, or supplies. — Home Disaster Loans: Up to $500,000 for homeowners and renters to repair or replace disaster-damaged real estate and personal property, including vehicles. — Economic Injury Disaster Loans (EIDL): Up to $2 million in Russell and 20 additional Kentucky counties for small businesses and nonprofits to help cover ongoing operating expenses such as payroll and rent. According to Public Affairs Specialist James "Jim" Accurso, interest rates can be as low as 2.688% for homeowners and renters, 4% for businesses, and 3.25% for nonprofits. Loan terms can extend up to 30 years. Accurso also shared there is no cost to apply, and residents are not obligated to accept a loan if offered. Survivors may additionally qualify for mitigation funds to help strengthen properties against future disasters. Although Accurso recommends visiting the center in person to receive guidance from trained customer service representatives, applications can also be completed online at
