In last week’s Portland Business Journal, The Playbook’s Senior Reporter Andy Medici detailed some updates for Small Business Administration loan programs which are coming on line. For example, under the Agency’s 7(a) and 504 programs, the SBA will now begin determining whether a business is eligible rather than burdening banks with that responsibility. This change will take place on August 1, 2023.
The SBA is also launching some new fraud prevention measures using data analytics, third-party data checks and A.I.…