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SBA Expels 154 Firms from 8(a) Program

D.C.-Based Companies Failed Economic Eligibility Requirements; $1.3 Billion in Contracts at Issue The U.S. Small Business Administration (SBA) has initiated termination proceedings against 154 Washington,...

SBA rule change bars non-U.S. citizens, including green card holders, from loans

Starting March 1, SBA loans will be limited to businesses fully owned by U.S. citizens, excluding green card holders and any foreign ownership under revised federal rules.

AI-driven Entrepreneurship Boosts One-person Business Growth

AI-driven entrepreneurship is spreading in an era when people can launch global businesses with just an idea, and one-person ventures are increasingly becoming the...

COVID Loan Fraud: Korean American Sentenced to 46 Months

On August 7, the U.S. Department of Justice announced that Abraham Park, a 67-year-old Korean American from La Mirada, was sentenced to three years...

SBA Offers $2M Loans to LA Firms Hit by Immigrant Arrest Protests

The U.S. Small Business Administration (SBA) is offering low-interest Economic Injury Disaster Loans (EIDL) of up to $2 million to small businesses in the...

Open Bank recognized as ‘The Most Improved SBA Lender’ by Texas administration

A Korean-American bank headquartered in LA, Open Bank has been recognized as a top SBA lender in Texas. Open Bank announced on January 25 that...

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