SBA Ends Fraudulent EIDL Pandemic Loan Program That Lied To ZENNIE62MEDIA, INC.

On Saturday, May 7, 2022, The Small Business Administration AKA SBA sent an email that read:

Hello COVID EIDL credit:


You are receiving this letter as a notice that we are unable to continue processing your application due to a lack of funds available for the COVID-19 EIDL loan program. SBA will not process COVID-19 EIDL loan extension applications or requests for reconsideration of loan applications rejected under this program.

We know this is a difficult time for your industry and for the nation. The SBA has local offices in your community that can point you to resources that can help your business in other ways. To learn more about these services, visit www.sba.gov/local-assistance find the email and phone number for the nearest SBA district office and/or SBA partner. Please call or email for a virtual meeting.

COVID EIDL DEBTORS – Submission of loans by May 16th

Your entry into the RAPID COVID EIDL portal ends on 16 May 2022.

After receiving the first $ 20,000 from the Economic Injury Disaster Loan Program in August 2020, EIDL project think tanks began an effort to fund ZENNIE62MEDIA, INC. what does a web business, of any kind, do?

In October of that year, I received an email from Small Business Administration attorney Jim Acheson requesting corporate documents certifying the existence of ZENNIE62MEDIA. I was happy to send them, but I called him to ask the reason for the request. Jim Acheson told me that someone in the SBA thought ZENNIE62MEDIA was not available because “You have two URLs associated with it.” In other words, the company has a number of domain names, and for name security reasons. But the notion that there is no real basis on that basis is not wrong and is not really true. Fortunately, Mr.

All you have to do to verify the existence of ZENNIE62MEDIA is to visit the Delaware Secretary of State website and register the agency on the site. It will show the company’s stock number, and, for $ 20, you can learn that ZENNIE62MEDIA, INC holds what is called “good standing” with fees paid to date. . ZENNIE62MEDIA is a company c like many startup technologies, from Facebook to Google, and Delaware has also chosen where to base their corporate business. As Davis Wright Tremaine LLP explains “Nearly 1.4 million law firms are incorporated in Delaware (with more than two -thirds of Fortune 500 companies), and about 80 percent of the awards originally established by the U.S. to choose the state as their corporate home.As a result, there is widespread awareness with Delaware law among many corporations, investors, and lawyers.

But surprisingly, small business owners don’t know how to use the Delaware website to watch ZENNIE62MEDIA! He told me about how to get the EIDL loan you need. That opportunity was announced in October of 2020, but the SBA always sent me to a “portal” investing in my first $ 20,000 loan, and then it was said that my application for an extension was denied, and they sent it to me. email explaining the reason. . Not only did that email come, the SBA constantly sent me emails asking me to sign up for the extension. So when I want to – six times – I get an email that’s supposed to point to a new application number and exit. Even when the SBA officials told me my link was sent to the “new exit”. But when I look at the link, it takes me back to the old portal, which is the one in March of 2022, which is the one I used in August of 2020 and in October of 2020.

If you have trouble, think about that for 2 years! Then, about two months ago, I had an SBA representative who noticed the problem. The new portal is at the bottom of the wrong email that was supposed to be related to my company, but it was actually wrong. When the SBA representative said he would use a new email, an SBA official said, on another phone,: they will always use the old and faulty email. He did not explain why.

So, in my opinion, the SBA escaped with murder in my hopes of getting help. The Biden Administration has not addressed EIDL issues, and an internal study has shown that agreements have been made given to businesses to operate the EIDL Program without regard to standard requirements.

Entitled “SBA OIG Report 22-10: Evaluation of SBA’s Disaster Assistance Loan Recommendation Services”, the report states:

To provide immediate loans during the COVID-19 economic crisis, SBA relied on an agreement before 2018 but did not follow proper procedures to ensure that the agreement was granted. the best property in the country. SBA provides consent for the inspection of credit data and services without certifying that the contract costs in accordance with the Federal Acquisition Regulation and industry guidelines are reasonable and appropriate.

The SBA’s requirements have changed significantly from the 2018 disaster credit agreement to the requirements for the revision of the COVID-19 EIDLs, and those changes were not taken into account when awarding the agreements. As a result, it is not true that the fees paid by SBA for services under the data plan and credit agreement are reasonable and reasonable.

The SBA also did not guarantee that the contractor met the maximum stipulated standards that would be eligible for a small set -aside gift. In addition, SBA did not certify that the contractor met the subcontracting limits, in excess of the $ 13 million limit. These gifts are intended to help small businesses compete and win government contracts. Instead the COVID-19 agreement was not awarded and was largely executed by a group of one of the country’s largest mortgage lenders.

We have developed six proposals to strengthen SBA’s marketing policies and increase capabilities to ensure compliance with the requirements of the contract program. The SBA agreed with six recommendations.

But there is no indication that the CEO has followed through on that advice. But even more frightening is this: “But the COVID-19 deal was not contested and was largely executed by a group of one of the nation’s largest mortgage lenders.

That company was Rapid Financial Services, that is Rocket Mortgage, owned by Dan Gilbert, the billionaire owner of the Cleveland Cavaliers. That was against the idea that small businesses should receive the SBA award, including women’s and small businesses. His Quicken Loans business provided $ 750,000 to President Donald Trump in 2017. As a result, the SBA EIDL program is managed by a firm by a friend of President Donald Trump. With that said, we can ask if that agency really helped the white, GOP-leaning firm aid EIDL after Trump lost the 2020 election?

There is no word or indication that the SBA EIDL program was created in a way that actually helped black businesses, as the SBA put an eye on it that was intended to help black businesses. In fact, in March of 2022, it was reported that “88% of Minority-Owned EIDL recipients need more funding” in a study published by Hello Skip, an Oakland-based company that invests. to SBA loan assistance advice. The other unanswered question is, do those “EIDL Resources” have ZENNIE62MEDIA as one of them? If they are treated like ZENNIE62MEDIA, INC., The answer is no.

In total, Congress should not allow the SBA to discontinue the EIDL program, but make it permanent before the 2022 Mid-Term election out of political necessity, and look at it. yes, and help black businesses.

Carry on.


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