Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.
Phony SBA lender settles FTC charges
The Federal Trade Commission has announced that a Rhode Island company and its owner will be permanently prohibited from misrepresenting they are affiliated with the SBA as part of a settlement resolving Commission charges they misled consumers in the early days of the coronavirus pandemic.
Ponte Investments, LLC, and its owner John C. Ponte were charged by the FTC in April with misleading small businesses to think they had an affiliation with the SBA and could offer companies access to the coronavirus relief programs administered by the agency.
The settlement prohibits defendants from misrepresenting that they are authorized to accept or process applications for SBA loans and misrepresenting that they are the SBA or are otherwise affiliated or associated with the SBA or the U.S. Government. The defendants will also no longer be able to use the trade name or domain name "SBA Loan Program."