The SBA 7(A) Program has a Franchise Fraud Problem



We’ve all heard about the SBA PPP Loan Fraud, but did you know that the SBA also has a problem with Franchisors behaving badly? In this short video we explore the high impacts of Franchise Fraud on the SBA 7(A) Loan Industry, Tax Payers, as well as Franchisees and touch on what discussions are being held amongst policy makers with respect to these issues.

Please let the SBA know what you think should happen when Franchisors take advantage of the Tax Payer’s generosity (and leave Franchisees holding the bag) with the SBA Program, and tell them to adopt Senator Catherine Cortez Masto’s Recommendations and cancel the Gaurantees on these loans!

Contact me on LinkedIn: https://www.linkedin.com/in/brandon-moore-9556a778/

Small Business Administration Contacts:
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YouTube: https://www.youtube.com/c/sbagov
Twitter: @SBAgov
Facebook: https://m.facebook.com/US-Small-Business-Administration-313250655865947/
LinkedIn: https://www.linkedin.com/company/us-small-business-administration/

Nevada Senator Catherine Cortez Masto’s Report and legislation she’s working on
(Contact your Senators today and ask them to help out!):
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Twitter: https://twitter.com/SenCortezMasto
Press Release Containing Report:
https://www.cortezmasto.senate.gov/news/press-releases/cortez-masto-releases-alarming-new-report-detailing-harmful-practices-in-franchise-sector-calls-for-transparency-and-oversight
S.2162 – SBA Franchise Loan Default Disclosure Act: https://www.congress.gov/bill/117th-congress/senate-bill/2162?s=1&r=78
S.1120 – Small Business Administration Franchise Loan Transparency Act of 2021: https://www.congress.gov/bill/117th-congress/senate-bill/1120/text

Dental Fix David Lopez Regulatory Settlement Orders and Coverage:
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Virginia SCC Settlement Order (November 2019): https://scc.virginia.gov/docketsearch/DOCS/4jw901!.PDF
Washington DFI Consent Order #1 (June 2021): https://dfi.wa.gov/documents/securities-orders/S-19-2776-20-CO01.pdf
Washington DFI Consent Order #2 Against Broker (August 2021): https://dfi.wa.gov/documents/securities-orders/S-19-2776-20-CO02.pdf
Previously Undisclosed Virginia SCC Settlement Order (January 2009): https://scc.virginia.gov/docketsearch/DOCS/1%258h01!.PDF
UnhappyFranchisee’s Coverage of David Lopez: https://www.unhappyfranchisee.com/tag/david-lopez/

BurgerIm Regulatory Settlement Order and Coverage:
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California Settlement Order (February 2021): https://dfpi.ca.gov/wp-content/uploads/sites/337/2021/02/Citations-DR-Burgerim-Group-USA-Inc..pdf
Restaraunt Business Online Discussing the BurgerIm Disaster with the SBA: https://www.restaurantbusinessonline.com/financing/burgerims-growth-had-notable-enabler-sba

SBA Data Source used for Chart (This video discusses the 7A Loans only – The data is from the 09/30/2021 and is contained in the 2010-present spreadsheet):
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https://data.sba.gov/dataset/7-a-504-foia

Source

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