SBA Just Screwed Small Business — And You’re Next | Let's Get Real Ep. 21

Your money's getting played while you're scrolling memes. Time to wake the f*ck up.

This ain't your typical finance bro BS - we're talking about the real moves happening RIGHT NOW that are messing with your bag. SBA loans just got harder to snag (yeah, they moved the goalposts AGAIN), Cincinnati Fed's actually doing something useful for once, and global tensions? They're about to hit your wallet harder than your ex hit your DMs.

Here's what we're breaking down:

• Why getting that business loan just became a nightmare (and what to do about it)
• The quiet financial literacy revolution happening in the Midwest that nobody's talking about
• How geopolitical chaos is about to shake your investments (spoiler: the markets aren't reacting... YET)

No fluff. No corporate speak. Just raw insights on the moves that matter for business owners who refuse to get caught slipping.

Watch now: https://youtu.be/SxNvdSltLZs

Ready to level up? Book your Power Hour and let's get strategic about YOUR money: https://www.blackmammoth.com/powerhour

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Stay smart. Stay dangerous. 🔥

Welcome to the No BS Wealth Podcast with Stoy Hall, your candid guide to financial clarity. In our third year, we're spicing things up by enhancing community ties and bringing you straight, no-fluff financial insights. Connect with us on NoBSWealthPodcast.com, and follow Stoy on social media for the latest episodes and expert discussions. Tune in, join the conversation, and transform your financial journey with us—no BS!

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Episode Transcript

Stoy (00:00):
What's up y'all?

(00:00):
Welcome back to Let's Get Real,where we cut through the noise
and talk about what's reallymessing with your money, your
mindset, and your mission today.
Diving into some sneaky assstories you probably didn't hear
about in your morning scrolling.
They weren't really trendy, butI think that you need to know
about them.
First one is how SBA loans havegotten harder, and next is
Cincinnati.
Uh, fed Summit decided to dosomething useful for ones for

(00:21):
their communities and thenobviously the geopolitical chain
reaction crap that's been goingon, um, all over the place.
But let's drive right into thisBLO.
So most of you know I'm talkingto you as business owners'cause
that's who I work with.
But they just got harder to get.
So according to investment Pdia,the rules just got a lot
tighter.
Stricter credit scorerequirements, heavier

(00:42):
documentation, fewerpre-approvals like they used to
have, and more scrutiny on howyou're spending the money.
Doesn't sound very good, doesit?
Well, typically what we wouldhave is SBA.
Those that need SBA would goahead and get approved.
Usually anything under 500,000would go.
Relatively quickly.
They've done that down to350,000.
They've also added where youhave to have$50,000 worth of

(01:03):
insurance on it.
So things just got harder to getthrough, but also more
expensive.
So if you're a business owner,owner, think, damn, I'll just
apply when I'm ready.
You're already behind.
Okay, this isn't just red tape.
It's gonna affect everyone who'swanting to launch clinics, build
stores, grow their, theirbusinesses.
So if you can't get access tocapital, or it's harder to get
to, there are other ways aroundthis, right?

(01:24):
You can get some, um, FinTechstuff, alternative loans,
bootstrapping.
Those are all ways that you'reable to get into it.
So, lock in, look at some of thecredit lines that are available
to you and just know that it'sgonna be harder, uh, to get the
SBA.
My favorite story from the weekis the Cleveland Fed.
They decided to host a summit,what's called Building Strong

(01:46):
and Sustainable Communities.
Building Strong and SustainableCommunities.
I know to you guys that soundslike a snooze fest, but to me,
uh, I love to dive into,'causewhat it's doing is expanding on
local lending.
It's launching new financialliteracy programs for schools.
Those that know me understandthat I love the financial
literacy aspect, which is gonnabring more credit access to

(02:06):
underbanked and minoritycommunities.
This is.
Huge everybody, because thinkabout it.
When you were a kid, did youknow about your budget?
Uh, what about when you got yourfirst credit card?
Or maybe did you even know whata loan is?
Nah.
Now of course you didn't.
There was no way for you to knowthat, and therefore compounding
interest was working againstyou.
So I think this is a fantasticmovement.

(02:28):
I hope to see more of it.
Um, but I asked you thisquestion, have you seen that in
your communities?
Maybe you should look out toyour local branch and ask what
programs and grants areavailable.
For you, just like theCincinnati Fed is doing, and
then shit just keeps onhappening.
Doesn't that, um, according tothe, the Guardian, uh, they just
dropped a deep dive into thechain reaction.

(02:49):
I.
Uh, of what's going on from thetensions between us, Iran, nato,
Russia, Ukraine.
We're really getting to theboiling point, is what they're
saying.
We got strikes, cyber attacksthat most of us don't really
know about, um, proxy battles,which we do know about, and it's
all affecting us in ourpocketbooks, right?
When you look at thegeopolitical conflict, it's

(03:10):
gonna escalate and your money'sgonna move.
I, I had spoken to this earlierthis week, is look at.
Where the money goes and whathappens to the money.
Okay.
Right now we're not seeing muchmovement.
We're, we're not seeing anythinghappen that correlates to what
is going on out there.
So that tells me that themarkets aren't ready or not
seeing that something certain ishappening.
However, it feels like we'rereally on the cusp.

(03:33):
We've got the Fed not reallywanting to move on interest
rates yet, and gonna wait untilthe end of the summer.
Which is fair.
Gotta see where we're going.
Tariffs, we still got thosegoing on.
We're getting close to that 90day pause.
What's gonna happen from that?
And we're already seeing thetariffs affect our economy when
it comes to inflation.
Uh, unemployment's gonna godown, so something's gonna have

(03:53):
to happen, right?
And if we think through it, whathappens in war?
Oil press spike.
Guess what happens are gastanks?
Well, right now we're seeing theopposite.
So think about that.
Supply chains, those are gonnabe big issues with the, with
overall and the tariffs.
But ultimately, if you feel thatpain, don't pull your
investments out per se, butmaybe move some of'em to a, a

(04:14):
safeguard.
But at the end of the day, weknow what's gonna happen.
Something event's gonna happen,some shit's gonna blow up,
market's gonna go down.
A lot of people are gonna freakout and get out.
Some are gonna get more in andwe're gonna look back in the
next five, 10 years and go, man,I really wish I would've bought
more at that point in time.
So I know it's emotional, I knowit's there.
Just, just breathe a little bit.

(04:34):
Stay invested, be diversified asmuch as you can.
So overall, from this week,we've seen SBA loans tightening,
so let's make sure we'reprepping our capital early.
If you need it, maybe move.
Sooner than you think.
We've seen the Cleveland Fedmaking some silent, quiet little
moves in their community.
When we're talking aboutresources, when it comes to
financial literacy and financialplanning, I'm all about that.

(04:55):
Uh, and obviously globaltensions keep rising.
Uh, but don't let that fear runyour personal finances, okay?
Again, don't sleep on thesesmall stories.
I'm bringing them to you so youcan hear'em, so you get all the
other noise out of your mind.
Right?
We've got enough shit going onwith.
You know, our president cussingand all the shit that's going on
in this world.
I'm gonna bring you storiesmaybe that you haven't heard,

(05:16):
and maybe provide some of thatclarity to you.
So if it, if it helps, lemmeknow which story hit hardest for
you.
As always, though, this is,let's get real, stay smart, stay
dangerous.
We'll see you next time.