Utah Small Business Loan – Utah BBQ http://utahbbq.org/ Wed, 23 Nov 2022 05:07:22 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://utahbbq.org/wp-content/uploads/2021/04/cropped-ICON-32x32.png Utah Small Business Loan – Utah BBQ http://utahbbq.org/ 32 32 George Chaconas and Courtney Bernhard of Performance Brokerage Services advise on the sale of Barney’s Motorcycle and Marine, 3 locations in Florida, to Dave Veracka https://utahbbq.org/george-chaconas-and-courtney-bernhard-of-performance-brokerage-services-advise-on-the-sale-of-barneys-motorcycle-and-marine-3-locations-in-florida-to-dave-veracka/ Wed, 23 Nov 2022 05:07:22 +0000 https://utahbbq.org/george-chaconas-and-courtney-bernhard-of-performance-brokerage-services-advise-on-the-sale-of-barneys-motorcycle-and-marine-3-locations-in-florida-to-dave-veracka/

Performance Brokerage Services, the leader in dealership buy-sell activity, announces the sale of the iconic Barney’s Motorcycle and Marine, 3 locations in Floridaat Dave Veracka.

IRVINE, Calif., November 23, 2022 /PRNewswire-PRWeb/ — Performance brokerage services, North America highest volume dealer brokerage firm, is pleased to announce the sale of the legendary Barney’s Motorcycle and Marine, with 3 locations at Floridaby KC Wood and Todd Hempstead at Dave Veracka.

They say legends never die. After 76 years, that statement rings true for iconic Barney’s Motorcycle and Marine dealerships. It started in Bloomington, Ill., with Harry “Barney” Barclay and his fiancée, Rosalee, a young couple in love. After the Second World War, with a common passion for motorcycling and a $500 ready, Barney and Rosalee opened their first Indian dealership in Bloomington. Eager to share their love of riding with the community, the couple became very active in local riding groups, bike shows and racing competitions.

After realizing their company had limited driving seasons in Illinoisthe couple decided to move the dealership outside of Miami, Florida, where the company grew beyond their wildest dreams. In 1951, the dealership was again relocated to St. Petersburg, Floridawhere the original building still stands, next to a larger, well-known facility for motorists traveling to the beaches of the Gulf Coast.

For the past 76 years, the dealerships have remained family owned and operated, under three generations of leadership. Barney’s son, Ray Hempstead, stepped in as second-generation owner in 1961. KC Wood, Barney’s grandson, joined the family business under his uncle Ray at a young age and spent his entire career with Barney’s dealerships . In 2004, Todd Hempstead, who worked at Barney’s as a teenager, decided to quit his career in software development and join his father, Ray, and cousin, KC, in the growing franchise business. After Ray’s retirement, KC became president, while Todd assumed the role of vice president.

The dealership has overcome many obstacles throughout its history, including the gas crisis of the 1980s, recessions and even a fire at the Saint PETERSBOURG location. KC and Todd persevered, each bringing their own strengths, and made dealerships what they are today, offering on-road, off-road and marine products to customers visiting any of their 3 locations.

Following the sale, Wood said: “After 76 years and three generations of ownership of Barney’s Motorcycle and Marine, our family has made the difficult decision to sell our three dealerships. George Chaconas and Courtney Bernhard contacted for the first time, we had not yet made the decision to retire. They provided valuable insight into what the sales process would entail, and before we knew it, they brought us an offer from a highly respected company in the industry. As a large multi-site dealer, our deal was quite complex. With the help of George and Courtney, and with the resources they recommended to us, we successfully navigated the many twists and turns and reached the finish line. Todd Hempstead and I want to personally thank the Performance Brokerage Services team for their professionalism, industry experience, frequent communications and perseverance. If you are thinking of selling and wondering if now is the right time to sell, I encourage you to contact them. Thank you, George and Courtney!”

Over the past 5 years, Performance Brokerage Services has advised the sale of over 300 dealerships, making it the largest dealership brokerage firm in North America. In 2021, the company completed 72 transactions, marking a record year. George C. Chaconasthe exclusive advisor for this transaction and National Harley-Davidson and Powersports Division Head for Performance Brokerage Services commented: “When my partner, Courtney Bernhard, and I met KC and Todd for lunch, I wasn’t sure how serious they were about selling. Naturally, it is a very emotional and difficult decision to sell a family business after 76 years. Without a succession plan, they decided to go ahead and hire us. We were thrilled to have the opportunity to help the family maximize the value of their life’s work and sell their greatest asset. We knew this was a special opportunity for a select group of buyers and ultimately Dave Veracka was the logical and unique solution. I would like to thank KC and Todd, and their families, for their perseverance in bringing this transaction to a successful conclusion despite the obstacles encountered along the way. I am eager to Dave Veracka and its team relying on the iconic Barney’s brand. It has been a true honor and pleasure to facilitate this transaction, and I wish KC and Todd a well-deserved retirement.”

Courtney Bernhard of Performance Brokerage Services shared, “To say I am grateful is an understatement. A year ago I took a leap of faith and approached the owners of the legendary Barney’s Motorcycle and Marine to see if they would consider a sale after decades of ownership. Although they hadn’t considered selling, with careful thought and divine timing, they decided to pursue a sale. We knew that to be the right fit, the buyer would really need to grasp the immense dedication Barney had within the racing community. , their passion for the outdoors, and above all, the love of their staff. I am honored that they allowed us to guide them through this process. Efforts to close a sale of this size, while maintaining business operations and employee morale, were no small task. I would like to thank KC and April Woods, Todd Hempstead, and all of their staff for reaching the finish line, always ready to help and smiling even when it felt like we would never see the end. They went above and beyond, working countless hours, to prepare dealers for the transition. It’s clear to see why Barney’s name has been respected for so many years. I wish the whole family a very happy retirement and hope they enjoy the next chapter in their lives. I have no doubt that Dave Veracka and his family will carry on the spirit of Barneys legendary reputation and propel the dealership to exciting new heights!”

Dave Veracka turned his passion for motorcycles into an illustrious career that began over 50 years ago when he opened the first Kawasaki dealer at Brockton, Mass.. In 2003, with his partner, Veracka acquired his first Harley-Davidson dealership. Over the years, Veracka and his sons, Paul and Michael, would continue their steady growth in the Harley-Davidson industry. In 2019, they made the decision to split the business into two groups; his sons took over the Harley-Davidson dealerships and Veracka created The Motorcycle Company, a new dealership consulting group.

As Paul and Michael continue to be fiercely competitive in expanding their East and West Coast footprints, they just might have a new contender in town. Dave Veracka came out of dealership retirement and is well on its way to building a strong on-road, off-road and watercraft dealership group.

The dealerships will remain in their current locations and have been renamed as follows:

  • Rockstar Powersports Brandon at 9820 East Adamo Drive at Brandon, Florida

  • Rockstar Powersports Saint PETERSBOURG at 10411, boulevard Gandy Nord at St. Petersburg, Florida

  • Rockstar Powersports Brooksville at 14430 boulevard Cortez at Brooksville, Florida

KC Wood and Todd Hempstead were represented by Robert Bass and Greg May Mercer Bass Sox in Tallahassee, Florida.

Dave Veracka was represented by Marc PettiGeneral Counsel, The Motorcycle Company, and Ed Gildeapartner at Fisher Broyles, LLP at Boston, MA.

About Performance brokerage services

Performance Brokerage Services, Inc. is North America highest-volume dealer brokerage firm specializing in buy-sell business for automobile, recreational vehicle, commercial truck, powersports and equipment dealers.

With over 25 years of experience, 700 dealerships sold and a 90% closure rate, the company’s reputation is unmatched and governed by the highest ethics and integrity.

The company offers a unique approach by providing free value estimates with no upfront fees or deposits, no fee refunds, and only paying a success fee after the deal closes.

Based at Irvine, Californiaand supported by 7 regional offices in Utah, Texas, Florida, Virginia, Ohio, New Jerseyand Canadaclients benefit from national visibility with local representation.

As trusted and respected experts in the field, the company utilizes an extensive network of attorneys, accountants, hundreds of registered buyers, and longstanding relationships with various automakers.

For more information on the services offered by Performance Brokerage Services, visit https://performancebrokerageservices.com.

Media Contact

Courtney BernhardPerformance Brokerage Services, 813-753-7262, courtney@performancebrokerageservices.com

Twitter, Facebook

SOURCE Performance Brokerage Services

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Rochester man admits armed robbery in Austin https://utahbbq.org/rochester-man-admits-armed-robbery-in-austin/ Tue, 15 Nov 2022 01:25:55 +0000 https://utahbbq.org/rochester-man-admits-armed-robbery-in-austin/

Austin, Minnesota (News KROC-AM) – A Rochester man accused of robbing two Rochester convenience stores earlier this year has pleaded guilty to three Austin robbery cases.

Adrick Mims, 26, today acknowledged three counts of theft while in possession of a dangerous weapon. In exchange, Mower County prosecutors agreed to drop four counts of second-degree assault and one charge of fleeing from police.

Mims was arrested in late June after robbing a convenience store in Austin and led Austin police on a high-speed chase through Lyle, where he fled on foot and was later found hiding in some bushes. A shelter-in-place alert has been issued for the small community south of Austin as police search for Mims.

He was also charged with armed robbery at an Austin convenience store on June 12 and robbery at a liquor store on June 19. He is currently expected to be sentenced in March.

Mims is also due to appear in Olmsted County Court later this month on charges stemming from the Rochester robberies. He is accused of robbing Casey’s General Store in the 1900 block of Northwest 7th Street by threatening an employee with a knife on June 5. Mims is also charged with the June 16 robbery of the Shell Gas N Go on East River Road Northeast, during which he allegedly wielded a box cutter. He faces charges of first-degree robbery and second-degree assault in each of the Rochester cases.

WATCH: States with the most new small businesses per capita

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Stock Market Breaking News: Crypto Crisis Hits FTX, Stocks Jump After Mega Rally, Home Depot Veterans Day Surprise | November 11, 2022 https://utahbbq.org/stock-market-breaking-news-crypto-crisis-hits-ftx-stocks-jump-after-mega-rally-home-depot-veterans-day-surprise-november-11-2022/ Fri, 11 Nov 2022 21:22:30 +0000 https://utahbbq.org/stock-market-breaking-news-crypto-crisis-hits-ftx-stocks-jump-after-mega-rally-home-depot-veterans-day-surprise-november-11-2022/

US stock futures sought to continue the rally in equities that was sparked on Thursday following a better-than-expected inflation report.

The main futures indices suggest a rise of 0.7% or a gain of more than 150 points on the Dow Jones, the day after the soaring 1,200 points of this index.

This is the biggest one-day gain for the Dow in more than two years.

Inflation slowed more than expected in October, but consumer prices remained near a multi-decade high, continuing to weigh on millions of households and small businesses in the United States.

The Labor Department said Thursday that the consumer price index, a broad measure of the price of everyday goods, including gas, groceries and rents, rose 0.4% in October compared to the previous month. Prices climbed 7.7% on an annual basis.

Those figures were both lower than the headline figure of 8% and the monthly increase of 0.5% predicted by economists at Refinitiv.

The yield on the 10-year Treasury, which helps set rates for mortgages and other loans, was 3.81% on Friday.

Oil prices rose on Friday after softer-than-expected U.S. inflation data bolstered hopes that the Federal Reserve will slow rate hikes.

Prices were still expected to show a decline for the week after COVID-19 cases jumped in major oil importer China, raising fears of lower fuel demand.

U.S. West Texas Intermediate (WTI) crude futures were trading around $87.00 a barrel.

Brent futures were trading around $94.00 a barrel.

On Wall Street, the S&P 500 gained 3,956.37, propelled by big gains for tech heavyweights. Amazon climbed 12.2%, Apple 8.9% and Microsoft 8.2%.

The Dow Jones Industrial Average gained 3.7%, or more than 1,200 points, to 33,715.37.

The Nasdaq composite, dominated by tech stocks, jumped 7.4% to 11,114.15 for its best day since March 2020,

Asian stock markets jumped on Friday.

The Nikkei 225 in Tokyo gained 2.9%, Hong Kong’s Hang Seng index climbed 7.7% and China’s composite index in Shanghai rose 1.7% after the ruling Communist Party promised to modify quarantine and other anti-virus tactics to reduce the cost of the harsh “Zero-COVID Strategy,” according to The Associated Press.

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Seattle Local Business News and Data DJC.com – News https://utahbbq.org/seattle-local-business-news-and-data-djc-com-news/ Thu, 10 Nov 2022 08:02:08 +0000 https://utahbbq.org/seattle-local-business-news-and-data-djc-com-news/

November 10, 2022

Sinkus

Titus

Mutual of Enumclaw, a Washington-based insurance company, has expanded its management team with the addition of two executives in the company’s underwriting and customer service divisions. As Chief Member Experience Officer, Jerel Titus brings 25 years of experience in the insurance industry. He will be responsible for overseeing claims, marketing and member services. Jerel most recently served as Vice President of Operations at Prudential Financial. As the new Director of Underwriting at Mutual of Enumclaw, Nick Sinkus brings over 18 years of insurance industry experience to his new role overseeing enterprise-wide underwriting and product organization for the Personal, Commercial and Agricultural lines. Sinkus most recently served as Vice President of Personal Lines at Mutual of Enumclaw. Prior to joining Mutual of Enumclaw, he held various positions at Travelers. Mutual of Enumclaw operates in Washington, Oregon, Idaho, Utah, Arizona, Wyoming and Montana.

Aegis Living is already a prolific developer of senior housing projects in our state, California and Nevada. Now he’ll lend his expertise to other developers with his new Aegis Development division. Founder and CEO dwayne clark said in a statement: “A key element of this mission, and of our success, is the purpose-built development and design process we deploy for each new building. We’ve been asked to share these best practices for years, and I’m glad to see Aegis Development helping others create the high-quality housing and care environments older people need and deserve. The main company Adam Clark, Brian Palmore and Jeanna Korbas will occupy a prominent place in the new consulting branch. Meanwhile, currently under construction, the Aegis projects in Ballard and Five Corners (near Laurelhurst, pictured) are both set to open in early 2024. Aegis now has three dozen communities in its portfolio.

Developer great expectations and Jackson’s Main Architecture plan the 199 units House Cornus in downtown Tacoma. Through an LLC, the developer acquired the corner property at 2502 Pacific Ave. two years ago, paying around $670,000. Now, JLL has announced that its capital markets team recently secured a $34.8 million construction loan for the project, which will be built by Rush. JLL’s Kaden Eichmeier and Jacques Davidson obtained the financing, from an anonymous national bank and an LLC associated with Strategic capital of Stonehill from Atlanta. This latter money comes in the form of a PACE loan; this acronym stands for Commercial Property Assessed Clean Energy. Eichmeier said in a statement, “The development will also utilize Pierce County’s newly approved PACE program, a program built around incentives for energy-efficient development and investment.” Completion is expected by fall 2024, at a site just steps from Tacoma Link (aka the T line) and Tacoma Dome station, served by the Sounder train.

Alternative investor USG Realty Capital is based in Santa Barbara and Silverdale. The firm announced earlier this month that Audrey Kamin, whose eponymous consulting firm is based in Tacoma, will lead its independent advisory board and become the director of business development. Founder of USG Greg Genovese said in a statement, “Audrey is an industry colleague whom I have known and admired for many years, and she is one of the most respected financial markets professionals in the investment industry. alternative. Audrey’s experience and expertise will be very important in helping us establish ourselves on more equity investment platforms. Kamin has three decades of experience in the field. She said in a statement, “It’s very important to me to work with product sponsors like USG Realty Capital who put their customers first.”

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California loan services company expands in Tucson, creating 150 jobs https://utahbbq.org/california-loan-services-company-expands-in-tucson-creating-150-jobs/ Sat, 05 Nov 2022 00:28:49 +0000 https://utahbbq.org/california-loan-services-company-expands-in-tucson-creating-150-jobs/

A California-based loan servicing company is expanding its presence in one of Tucson’s landmark buildings, with plans to create around 150 jobs.

Advanced Financial Companywhich provides consumer loan services and customer service for the timeshare resort industry, plans to create 152 jobs over the next five years as part of a major expansion of its construction operations historic 5151 East Broadway, where he opened a small office in 2020.

The company plans to invest $2 million in the construction of part of the historic building, and the economic impact of the plan is estimated at $135 million over five years, said Corridor Soleil Inc.the main economic development agency for the Tucson area.

Advanced Financial plans to move into its new space Dec. 1, expanding to the sixth floor of 5151 East Broadway at approximately 8,000 square feet from 2,600 square feet, and has options to occupy the entire 18 floor. 000 square feet, said Kyle Kolsky, chief operating officer of Advanced Financial.

People also read…

New local positions include customer service agents, trainers and supervisors responsible for servicing solar and home improvement loans, billing and payment processing and other financial services roles.

Interested candidates can contact Delbert Reed at dreed@advancedfinco.com; veterans are encouraged to apply.

Advanced Financial, which is based north of San Diego in Carlsbad, Calif., opened a small office at 5151 E. Broadway in 2020, after switching to remote work at the height of the pandemic.

The company allowed some employees to relocate to markets outside of California, including Tucson, where the company recruited and trained employees under a pilot program.

After an enthusiastic response from its local manager, company officials became convinced that Tucson was an ideal place to attract talent and build a strong business location for a major operation, Kolsky said.

“We wanted to be close to home, and there are a lot of similarities between Tucson and San Diego,” Kolsky said. “They’re two kinds of southern border towns, they have a strong cultural heritage and a lot of Mexican Americans.”

Tucson is home to several large customer service call centers employing thousands of workers, with carriers including Geico, Citi, Intuit, and OptumRx.

Kolksy said he was pleasantly surprised when the company’s demographic study of the Tucson market showed there were more than 20,000 qualified call center employees here.

Advanced Financial has essentially “exported” its salary range from California to Tucson, he said, so its salary is near the top of the local market.

The company’s entry-level salary is $17 to $19 per hour with the potential to increase up to $30 per hour, plus full benefits including medical coverage and dental and 401(k) savings plans.

Advanced Financial now employs about 50 people in Carlsbad and 25 in Tucson, where staff are focused on servicing consumer loans, primarily for solar and home improvement loans, Kolsky said.

The company is affiliated with Grand Pacific Resorts, a Carlsbad-based resort management and development company that manages 24 properties in California, Hawaii and Utah.

Although the company planned his hire over five years, Kolsy said the company “could honestly be on this whole floor in 18 months,” citing the strong solar loan market and improving rooftop housing.

The Arizona Commerce Authority, Pima County and the City of Tucson partnered with Sun Corridor to attract Advanced Financial.

The company considered several other communities, including Baltimore, Austin, Northern California sites and Phoenix, before selecting Tucson for expansion, Sun Corridor President and CEO Joe Snell said.

“This company is an important part of our portfolio of industry-recognized, high-quality brand companies that have chosen Southern Arizona,” Snell said. “Our strategic location and talent pool continue to make us attractive for high-growth projects from many companies.”

Watch former Star reporter Hannah Gaber rappel from the side of the historic 5151 E. Broadway building in 2017.



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Big road improvements coming to Broadmoor area in Pasco 2023 https://utahbbq.org/big-road-improvements-coming-to-broadmoor-area-in-pasco-2023/ Tue, 01 Nov 2022 18:17:58 +0000 https://utahbbq.org/big-road-improvements-coming-to-broadmoor-area-in-pasco-2023/

The Broadmoor area will see lots of road improvements in 2023 (google maps)

The Broadmoor area will see lots of road improvements in 2023 (google maps)

According to the city of Pasco, a new legislative program allows them to make improvements.

$40 million in renovations and improvements planned for Broadmoor Area in 2023

City of Pasco Communications Program Manager Jon Funfar released information Tuesday, Nov. 1, about upcoming major renovations to the Broadmoor area of ​​Pasco.

Broadmoor Improvements Brochure (Town of Pasco)

Broadmoor Improvements Brochure (Town of Pasco)

The city plans to use what’s called TIF, or the tax increase financing program to pay for a series of improvements in the area. According to the city:

“The Tax Increment Funding Program, recently authorized by the state legislature, allows municipalities to use property tax increases resulting from development for infrastructure projects. The Broadmoor area, slated for d ‘significant retail and housing developments, is an excellent candidate for TIF’

The city will mail a brochure to citizens, outlining areas where improvements will be made. They include, depending on the city:

“..area interior roads, expansion of Sandifur Parkway and Route 100, and significant improvements to the I-182/Route 100 interchange.”

Town of Pasco

Town of Pasco

More details, including brochure map, can be viewed on the City of Pasco website by clicking here.

WATCH: States with the most new small businesses per capita

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GBank Financial Holdings Inc. is pleased to announce that Bank of George is now GBank https://utahbbq.org/gbank-financial-holdings-inc-is-pleased-to-announce-that-bank-of-george-is-now-gbank/ Tue, 25 Oct 2022 01:54:00 +0000 https://utahbbq.org/gbank-financial-holdings-inc-is-pleased-to-announce-that-bank-of-george-is-now-gbank/

LA VEGAS, October 24, 2022 /PRNewswire/ — GBank Financial Holdings Inc. (the “Company”) (OTCQX: GBFH), the parent company of GBank (formerly known as “Bank of George”) (the “Bank”), announced today today the publication of the Bank’s new brand image and the launch of its new website.

“When we applied for our bank’s approval in 2007, the FDIC informed us that there were over 80 applications for de novo banking in the San Francisco region alone. We chose Bank of George to achieve two important objectives, to ask the question ‘who is George?‘, and instill our values ​​with the answer – george washington,” said Edward M. Nigro, Executive Chairman. “So today we are taking another very important step in our business, positioning George to reflect today’s rapidly evolving technical solutions that we offer our customers. GBank will represent the new – but the ‘G’ will always represent George.”

The updated logo is designed to be streamlined yet bold with contrasting colors. The new design gives the logo a more current and relevant look. The design also aims to provide customers with a feel that reflects the Company’s spirit of innovation.

“Increasingly, our national markets and communities associate our success with the short name of our holding company: GBank,” said T. ryan sullivan, Chairman and CEO. “After careful consideration and deliberation, the Boards of Directors of the Bank and the Holding Company have determined that it is time to align our brand awareness with our national image. To that end, we are delighted to put now updating our Bank’s name and brand Although our name and website have now changed, we remain focused on building on our future success while continuing to provide ‘Your Best Banking Experience – Ever!®’.”

The Bank’s revamped website is now accessible at www.g.bank. It offers a more intuitive user experience and additional content that supports customers and reflects GBank’s deep expertise and longstanding commitment to exceptional customer service.

In order to improve our internet and email security, we have changed our website and email domain from .COM to .BANK. The .BANK domain is exclusively reserved for the banking sector. By following the industry standard and changing our GBank website and email to the .BANK domain, it provides enhanced security by allowing others to quickly verify and confirm that they are communicating with us.

The company

GBank Financial Holdings Inc. (the “Company”) (GBFH), a bank holding company with approximately $667 million of assets to September 30, 2022, operates through its wholly owned subsidiary, GBank (formerly known as “Bank of George”) (the “Bank”). Founded in 2007, the Bank operates two full-service commercial branches in Las Vegas, Nevadawith core lending activities focused on engaging clients in Nevada, California, Utahand Arizona. Bank of George has key businesses in three major divisions: SBA Lending, Gaming FinTech and Commercial Lending. The Bank operates nationwide through its SBA lending business (ranked 14e in-country by the US Small Business Administration for SBA 7(a) dollar lending volume via September 30, 2022) and its partnership BankCard Services, LLC (“BCS”). Launched in 2016, its Gaming FinTech division, via its contract with BCSreinforces the Play+ solution of Sightline Payments (Sightline Payments) for transparent and secure payment and gaming that enable cashless mobile commerce solutions for gaming, lottery and sports betting ecosystems – positioning the Bank as a financial leader in this new world of payments. The Bank also provides general commercial banking services with an emphasis on the needs of small and medium enterprises, high net worth individuals, professionals and investors. The Bank offers a full suite of consumer deposit products and is focused on providing a superior level of service. Bank of George has been recognized annually for each of the past six years by S&P Capital IQ in its Top 100 Best Performing Community Banks. For more information about GBank, please visit its website at www.g.bank. The common shares of the Company are listed on the American market OTCQX under the symbol GBFH.

Forward-looking statements

GBank has made forward-looking statements in this press release. These forward-looking statements are subject to risks and uncertainties. Forward-looking statements include information regarding the possible or assumed future results of operations of the Company and its subsidiaries. Where words such as “believes”, “expects”, “anticipates” or similar expressions appear in this press release, the Company is making forward-looking statements. Note that many factors could affect the future financial results of the Company and its subsidiaries, both individually and collectively, and could cause these results to differ materially from those expressed in the forward-looking statements contained in this press release. These factors include, but are not limited to: the recent and ongoing coronavirus (COVID-19) pandemic which poses risks and could adversely affect the Company’s business and results of operations in the coming quarters, the risk conditions, changes in market interest rates, failure to achieve merger synergies, competition, economic slowdown or recession, and government regulation and supervision. The Company assumes no obligation to update or revise any forward-looking statements.

SOURCEGBank Financial Holdings Inc.

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U.S. Attorney Josh Hurwit Announces Launch of Idaho COVID-19 Fraud Task Force | USAO ID https://utahbbq.org/u-s-attorney-josh-hurwit-announces-launch-of-idaho-covid-19-fraud-task-force-usao-id/ Wed, 19 Oct 2022 21:39:19 +0000 https://utahbbq.org/u-s-attorney-josh-hurwit-announces-launch-of-idaho-covid-19-fraud-task-force-usao-id/

BOISE — U.S. Attorney Josh Hurwit announces the formation of the District of Idaho’s COVID-19 Fraud Task Force and highlights the District of Idaho’s ongoing efforts to combat fraud related to the pandemic. These efforts have included complementary actions by the criminal, civil, and asset recovery divisions, as well as federal, state, and local law enforcement agencies.

“The task force represents a continuation of my office’s commitment to combating pandemic-related fraud,” U.S. Attorney Hurwit said. “It brings together a broad group of law enforcement agencies with prosecutors who will work together to hold accountable criminals who have unjustly enriched themselves at the expense of taxpayers by defrauding economic assistance programs.”

The U.S. Attorney’s Office is pleased to announce that the following agencies are part of the task force:

  • US Small Business Administration, Office of Inspector General
  • Tax Service, Criminal Investigation
  • United States Department of Treasury, Inspector General of Tax Administration
  • Federal Bureau of Investigation
  • Federal Deposit Insurance Corporation, Office of Inspector General
  • Social Security Administration, Office of the Inspector General
  • United States Department of Agriculture, Office of Inspector General
  • US Department of Health and Human Services, Office of Inspector General
  • United States Postal Inspection Service
  • U.S. Secret Service, Boise Resident Agency and Spokane Resident Office

“Those who commit fraud against SBA programs will be brought to justice and held accountable,” said SBA OIG Western Region Special Agent in Charge Weston King. “OIG remains committed to weeding out bad actors and protecting the integrity of SBA programs. I want to thank the U.S. Attorney’s Office and our law enforcement partners for their dedication and commitment to ensuring that justice is served.

“The investigation of allegations of COVID-19 relief fraud remains a top priority for the IRS criminal investigation,” said Andy Tsui, IRS Criminal Investigation Special Agent, Field Office from Denver. “The IRS-CI has investigated more than 800 cases of fraud related to COVID-19 and we will continue to hold accountable those who steal funds intended to help American workers, families and small businesses.”

“Treasury Inspector General for Tax Administration has joined the U.S. Attorney’s Office for the District of Idaho to identify and investigate fraud, waste, and abuse of government assistance programs related to COVID-19 “said Treasury Inspector General for Tax Administration, J. Russell George. “We are committed to working with our law enforcement partners to aggressively investigate those who attempt to subvert these programs through the misuse of IRS systems and fraudulent IRS documents as part of their schemes. “

The task force will identify, investigate and prosecute those who have defrauded economic relief programs intended to help individuals and small businesses adversely affected by the COVID-19 pandemic. This includes programs such as the Paycheck Protection Program (PPP), Economic Disaster Loans (EIDL), Coronavirus Farm Assistance Program (CFAP), Rental Assistance Program (ERAP) and Unemployment Insurance (UI). To fraudulently obtain these funds, criminals set up businesses, committed identity theft, and inflated the size and scope of real businesses.

Case examples

Along with today’s announcement, U.S. Attorney Hurwit also announced that Nicholas Jones, 36, of Boise, was sentenced today to 30 months in federal prison for wire fraud and filing fundraising statements. campaign tampering related to his 2020 U.S. House of Representatives bid. Jones was also fined $100,000, and the U.S. Attorney’s Office has already received a separate restitution payment of more than $90. $000 from Jones.

Jones, a small business owner, applied for and received COVID-19 relief funds, including PPP and EIDL funds, totaling $753,600. Although he certified that these funds would only be used for business-related expenses, Jones used a significant portion of the funds for personal expenses, including car payments, life insurance policies and his mortgage. He also purchased a significant amount of stocks and investments with the relief funds.

Additionally, Jones ran as a candidate for the United States House of Representatives in 2020. He used some of the COVID-19 relief funds he received for campaign purposes. In addition to paying for political advertising, he used PPP funds to pay his restaurant workers not for the restaurant, but for campaigning for Congress, including making phone calls and hanging campaign flyers.

In imposing his sentence, U.S. Chief District Judge David C. Nye said Jones must bear the consequences of his conduct, which included the misuse of “money that was important and not was no longer available for its intended use”.

Other examples of cases the COVID-19 Fraud Task Force has investigated that have led to charges include:

  • Douglas Wold, 50, of Meridian, was sentenced to 41 months in federal prison for wire fraud, mail fraud and money laundering in December 2021. During the early months of the pandemic, Wold committed wire fraud by submitting fraudulent pay requests to his employer. . He also committed mail fraud as part of a COVID-19 testing program by issuing fraudulent invoices to his employer Fry Foods on behalf of his company, Hala Lallo Health, when in fact the test was provided. by another entity and at a much lower cost. Wold deposited the funds he received in a bank account he controlled and did not pay the healthcare provider who actually performed the tests. Wold committed money laundering by transferring $69,116.48 of the proceeds of his frauds for the purchase of a speedboat and trailer, which the government has since recovered.
  • Jeff C. Vogt of Caldwell fraudulently obtained $250,000 in CFAP funds based on his false claim that he produced 22,480,000 pounds of dry onions which were shipped but not sold between January 15, 2020 and on April 15, 2020. A civil complaint has been filed against Vogt alleging violations of the False Claims Act and common law fraud. Vogt having failed to respond, a default judgment of $761,665 was entered against him.
  • Lawrence Sikutwa, 43, of Boise, was charged with bank fraud, aggravated impersonation and money laundering in an indictment filed in October 2022. The charges stem from a scheme to defraud two banks by obtaining $337,976 in PPP loans, then allegedly using the loan proceeds for personal and other non-business expenses. According to court documents, the loan applications were fraudulent because, among other things, they contained false declarations and certifications concerning the companies’ average monthly payroll, the number of employees and the intended use of the funds for expenses related to the company, in particular payroll.
  • Khadijah Chapman, 58, of Atlanta, Georgia; Daniel Labrum, 41, of South Jordan, Utah; and Eric O’Neil, 57, of Bethel, Connecticut, were charged in three separate indictments filed in July 2022 with bank fraud for fraudulently obtaining PPP loans from a Boise-based financial institution. According to court documents, the defendants, along with others, allegedly falsified information and submitted fraudulent documents to collectively obtain more than $2.4 million in SBA-backed relief funding for small businesses battling the coronavirus crisis. economic impact of COVID-19.

Citizens and others who suspect fraud or other pandemic-related criminal acts should report it to the COVID-19 Pandemic Fraud Hotline at www.pandemicoversight.gov/contact/about-hotline. Idaho residents are also encouraged to report COVID-19 fraud directly to the U.S. Attorney’s Office at (208) 334-1211.

An indictment is only an allegation. All defendants are presumed innocent until proven guilty beyond a reasonable doubt in court.

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Bluevine Review 2022: Pros, Cons, and Alternatives https://utahbbq.org/bluevine-review-2022-pros-cons-and-alternatives/ Sat, 15 Oct 2022 01:04:07 +0000 https://utahbbq.org/bluevine-review-2022-pros-cons-and-alternatives/

BlueVine is a fintech company, not a bank, that offers lines of credit of up to $250,000. This is an option for small business owners who need short-term working capital, which is issued by Celtic Bank, a Utah-chartered industrial bank and member of the FDIC.

Bluevine’s application process is simple and allows business owners to log into their business checking accounts and get decisions in minutes. BlueVine also offers business checking accounts, although this is not a requirement when applying for funding through them.

BlueVine Benefits

Let’s take a look at some of the key benefits BlueVine offers a small business owner looking for funding.

Quick funding

One of the main benefits of working with BlueVine is that they make funding decisions very quickly, usually within hours. The application process is also brief and should only take a few minutes.

Earn 1.5% interest with BlueVine Business Checking

One of the benefits of BlueVine business checking accounts is that account holders can earn a high level of interest on their balance. 1.5% interest is a substantial amount for a bank account, which is one of the reasons owners can open a business account with BlueVine.

Live Support

BlueVine Customer Service has live chat to help customers when they need help with anything related to their accounts. This is a great advantage for BlueVine customers and is not always a feature available from competitors.

BlueVine Review: Features and Price

With a better idea of ​​the benefits of working with BlueVine, let’s take a look at some of the key features of their main products, including a business checking account and small business financing.

BlueVine Business Verification

  • No monthly fees
  • No minimum balance requirement
  • No account closing fees
  • Unlimited trades
  • High Yield Interest
  • Add sub-accounts

Customers who have a BlueVine Business Current Account can enjoy no overdraft fees, and unlimited transactions and eligible customers can earn 1.5% on the balance. It’s a free checking account with no monthly fees or minimum balance. Many business checking accounts have at least a monthly maintenance fee, which the BlueVine business checking account does not. Customers can deposit cash or mobile check deposit into their account and view account balances from anywhere through the online platform.

BlueVine Business Loans

  • Lines of credit up to $250,000
  • Rates as low as 4.8%
  • Decisions as fast as 5 minutes

In addition to online banking, BlueVine offers financing for businesses in the form of lines of credit. They offer this service to businesses at any stage, including those with a business history of only 6 months. Their flexible requirements and simple application set them apart, although their interest rates tend to be higher than other small business loan products.

BlueVine Bill Payment

Another excellent service offered by BlueVine is its bill payment feature. Customers can schedule payments so they never miss a bill and can pay vendors with a credit card even when it’s not an accepted payment method.

Quick overview of BlueVine

With all of these benefits in mind, let’s take a look at the top benefits of working with BlueVine.

BlueVine

Best Overall Value

Open account

Bluehost Customer Reviews

Really happy to do business with Bluevine. The line of credit they gave me really helped my business a lot. I would recommend Bluevine to all of my associates and clients.

grinding wheel

Incredible experience. This company is 5 star and got me approved a substantial number within 24 hours

Harvey

The full experience with Bluevine was fulfilled with ease. From the initial application process to the withdrawal of funds, everything was smooth.

Reginald

This was my first time applying for a business line of credit and I have to say that my experience was more than pleasant and exceeded my expectations…I highly recommend Bluevine to any conventional bank!

Caesar

BlueVine Service Review

BlueVine reviews (1)

BlueVine Reviews

Price and overall value 80%
cost value 80%
Customer service 70%
Ease of use 90%
Features Included 80%

Let’s take a final look at BlueVine and how it can meet your business needs.

Is Bluevine right for you?

BlueVine is primarily known for its line of credit, although it also offers a BlueVine business checking account which has no fees or balance requirements, and is a high-yield account. The BlueVine checking account and line of credit are great options for start-up businesses and are very affordable.

cost value

Since BlueVine has fee-free bank accounts and does not charge a number of additional common fees, they offer great value for consumers. The BlueVine Business Line of Credit charges interest that can be higher than other loan products, so this is something to keep in mind.

Customer service

The customer service offered by Bluevine through their live chat is a great feature for account holders, which may not be available through other comparable service providers.

Ease of use

They have a very simple application process that can be completed in minutes, and their online platform is easy to use and navigate. It’s also easy to deposit cash and checks into the account, which is a great and convenient feature for many.

Features Included

BlueVine doesn’t just offer the line of credit, they also offer a number of other services like their banking services and bill payment. To deposit money, customers can make mobile check deposits, cash deposits and view their bank statements anytime online to monitor their cash flow.

Globally

Above all, BlueVine is a great choice for many small businesses due to their low fees and flexible financing needs.

2 Best Bluevine Alternatives

Novo Bank Hunt BlueVine
Costs No monthly or ATM fees, no balance requirements, $27 for NSF or returned items $15-95 monthly service fee, $34 NSF fee, $15 wire-in fee; no outgoing transfer fees < $5,000 No monthly fees, insufficient funds or incoming transfer fees; $15 outgoing transfer fee, $4.95 to access money through GreenDot
ticket vending machines Unlimited reimbursement of all ATM fees worldwide 16,000 More than 37,000 MoneyPass ATMs
Customer service Phone, email, or in-app messaging: Monday through Friday, 9:00 a.m. to 6:00 p.m. EST Phone, Twitter, and Message Center: Available Monday-Friday: 7 a.m.-11 p.m. ET and Saturday-Sunday: 10 a.m.-7 p.m. ET Telephone and e-mail: Monday to Friday. 8 a.m. to 8 p.m. EST
Minimum initial deposit $50 $0 $0
Link

Open account

Open account

Open account

Novo Bank

Novo Bank presents itself as the banking solution for modern entrepreneurs. They offer bank accounts for small business owners, entrepreneurs, and freelancers with no hidden fees. Candidates can open an account in minutes and face no deposit or balance minimums.

Hunt

Chase is an American national bank, a subsidiary of the multinational banking holding company JPMorgan Chase. They offer many perks for their business customers and a variety of checking and savings accounts for them to take advantage of.

Conclusion

BlueVine is a great choice for any small business to consider when looking for online banking services and ways to obtain external financing. Their business loan products, checking accounts, and bill payment features are all great aspects of their business banking offerings. With flexible funding requirements, no fees, and other benefits as a merchant payment processing provider, BlueVine will continue to be a good option for start-ups.

Frequently Asked Questions (FAQs)

Does Bluevine still offer invoice factoring?

No, as of December 2021 they no longer offer this service.

What is Bluevine’s rating with the Better Business Bureau?

They have an A+ accreditation with the Better Business Bureau.

What type of banking services does BlueVine offer? Does this include a savings account or a personal account?

They have business checking accounts, although they don’t offer savings accounts or personal accounts.

Is there a business relationship between Coastal Community Bank and BlueVine?

Coastal Community Bank, Member FDIC is the partner bank for Bluevine’s checking account product. This way, customers can notice the name of the bank appearing on direct deposit payments.

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Why did economist Ben Bernanke win the Nobel Prize? | Opinion https://utahbbq.org/why-did-economist-ben-bernanke-win-the-nobel-prize-opinion/ Thu, 13 Oct 2022 03:00:00 +0000 https://utahbbq.org/why-did-economist-ben-bernanke-win-the-nobel-prize-opinion/

In the classic Disney film “Mary Poppins”, George Banks, a prominent London financier, takes his son, Michael, to the bank to convince him to deposit his tuppences instead of using them to feed the birds. After a song (and a stilted dance) by the bank’s board of directors, the president takes Michael’s money, creating a ruckus when Michael shouts. All customers assume that the bank must be short of money and demand their deposits. The bank reacts by closing its doors and going out of business, which only creates more panic in London as a large crowd forces themselves inside.

The scene, while hilarious, highlights one of the fundamental weaknesses in our global financial system – how banks can cause a financial crisis – which was the subject of research that won the Nobel Prize in Science awards this year, awarded on Monday.

Sweden’s Riksbank awarded the prize to former Federal Reserve Chairman Ben Bernanke, along with fellow Americans Douglas Diamond and Phillip Dybvig, for their work on the role of central banks in preventing or managing financial crises. The award was for research published in 1983 and 1984 that remains alarmingly relevant nearly four decades later.

Bernanke is a household name in politics and economics, having served as Chairman of the Federal Reserve from 2006 to 2014. Appointed by Presidents George W. Bush and Barack Obama, Bernanke led the Fed through the 2008 financial crisis. Ironically, Bernanke wrote his doctoral dissertation on how the Federal Reserve made the Great Depression worse by reducing the money supply and raising the interest rate as the stock market crashed. As a professor at Princeton, Bernanke researched economic history, showing that liquidity in the face of toxic assets – hard-to-sell investments – was essential to preserve the banking system.

In developed economies, fractional banking is key to long-term private capital investments, such as expanding factory space or building research labs. Since these projects require billions of dollars upfront, banks serve as key intermediaries taking the relatively smaller savings of ordinary workers and channeling the funds to improve and build the economy. Unlike Scrooge McDuck, Bankers don’t swim in gold coins in a giant safe, but rather save a fraction of each deposit as a reserve and lend the rest. These loans cause a chain reaction that ripples through the entire financial system, with companies using the cash to hire workers who then put their savings in a bank that lends again and so on.

However, if the assets that investors have bought lose value or if participants in the financial system lose confidence, then the whole apparatus can collapse like a house of cards. Bernanke’s research on the Great Depression showed that bickering among regional bank presidents, as opposed to quick and decisive action to increase the money supply in the face of the crisis, crippled credit and increased the economic quagmire.

In the fall of 2008, Bernanke applied those lessons by cutting interest rates, then advocating an all-time low. Normally, when the Fed increases the money supply, it does so by buying risk-free government savings bonds. This action injects liquidity into the financial system and lowers interest rates while maintaining the same risk on the Fed’s balance sheet. Bernanke instead opted to buy mortgage-backed securities, making the banking system more liquid while removing toxic assets from the market. This bold move may have halted the collapse in asset prices and allowed markets to stabilize.

Bank runs, however, are psychological. If all the depositors withdraw their savings at the same time, the bank will lose its reserves quickly and close. Diamond and Dybvig have shown that prevention is the best cure. If policymakers can keep fear from spreading through the system, angry depositors (like the bank’s kids) won’t even show up.

Utah banker and former Fed Chairman Marriner Eccles reportedly slowly paid depositors in small bills and silver dollars or drove a truck with cash-lined windows, among other strategies, to signal liquidity. However, the consistent way to signal confidence is for the government to provide deposit insurance (like the FDIC). These programs reassure borrowers that their savings are safe and there is no reason to withdraw en masse.

Who should create money, how to use it, and how to ensure its value has always fascinated humans since commerce has existed. Central banking is a young science, but these researchers have expanded our understanding of our relationship with money and finance in illuminating and sometimes controversial ways. Understanding the effects of monetary policy is vital to the strength of money, the trust we place in ourselves, and our relationships in an interconnected world.

Michael S. Kofoed, @mikekofoed on Twitter, is an associate professor of economics at the US Military Academy and a research fellow at the Institute of Labor Economics. A native of Utah, he holds degrees in economics from Weber State University and the University of Georgia. These opinions are those of the author and do not represent the United States Military Academy, the Department of the Army, or the Department of Defense.

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