Welcome back to The BDO Show—where dodgy deals get exposed, and the SBA is coming for answers (and maybe your referral fees)!
This week, the gloves are OFF as we dive into the murky world of SBA fraud, "straw buyers," and the new "7(a) Loan Agent Oversight Act." Hosts Emily Detor, Alan Peterson, Ryan Kroge, and Ray Drew lay it all out, from questionable tax returns to side agreements that could land you in hot water.
If you're a BDO, agent, or borrower, you absolutely won't want to miss this no-holds-barred exposé on:
- The new legislation shaking up the SBA agent landscape: What data is Congress demanding, and why?
- The terrifying truth about "straw buyers" and sophisticated structuring schemes designed to defraud the system (and how they're making a killing).
- Why "junk fees" and undisclosed side agreements are outright fraud – and how they leave borrowers (and lenders) holding the bag.
- The critical difference between a good referral partner and a "shady broker" (and why your portfolio depends on knowing the difference).
- The dire warnings about not doing your own due diligence as a buyer – relying on the bank is a rookie mistake!
Plus, hear about Ryan's wild story of forged tax returns and why Ray's leaving this episode "more scared than ever"!
👉 Have a fraud story? Think we're way off base? Tell us how you really feel in the comments or email us at TheBDOShow@ArtofSBA.com. Tag the FBI!
📺 Like, subscribe, and hit the bell—because staying sharp means staying out of jail!
🎙This episode is sponsored by:
SBA Protection
SBA Protection Quick Close Life Insurance – the fastest, easiest way to secure the insurance protection your borrower needs for their SBA loan. For more information, visit their website
https://sbaprotection.com/ or email Adam Bergen at Adam@SBAProtection.com
ReSquared
Finding and engaging small business owners has never been easier. Resquared is the go-to platform for Business Development Officers looking to connect with local business owners—faster and effectively. They help you find the right prospects effortlessly. Schedule a demo today at http://landing.re2.ai/bdo
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