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2010 March

Hiring to Expand Veterans' Services

Be Wary of Advance Fee Loan Scams

State Rolls Out Quarterly Bid List

White House: Stimulus Funds Targeted Upgrades At Saginaw VA Hospital.

Hiring to Expand Veterans' Services: Q & A with W. Scott Gould, Deputy Secretary of Veterans Affairs.

The following link is to a story published in The Washington Post. The story focuses on the VA’s efforts to expand veterans’ services.

Be Wary of Advance Fee Loan Scams

By Steve Garmhausen

As small business lending continues in the doldrums, the criminals that have long preyed on consumers with advance-fee loan scams are turning their sights on entrepreneurs desperate to finance their ventures.

Michael Bernardo, chief of the Federal Deposit Insurance Corp.'s cyber-fraud and financial crimes section, says he's seen the scams surface in the small business world in the past six months or so, though the trend hasn't attracted much attention because small business owners rarely report it.

In an advance-fee loan scam, someone posing as a loan broker promises to deliver a loan in exchange for an upfront fee. The fee and the criminal disappear—and the loan, of course, never materializes. In the small business twist, says Bernardo, the scammers often claim to have private equity funding sources.

Bogus Bankers

This is exactly the claim that a shady middleman made to Steven Ancona, president of Flatiron Real Estate Advisors.

Last October, Ancona, who has been seeking funding for a green hotel project, was approached by an unfamiliar group offering a multimillion-dollar construction loan. As a favor, he asked a friend who works in finance to look into the matter. Good thing he did. Nicole Perrotta asked around at the large brokerage house where she works as a financial adviser and discovered that "this particular group certainly was a scam."

"Had [ Ancona] gone along with what was being proposed," says Perrotta, "he would have paid the scammers a sizable sum of money in return for the financing of his project, which never would have happened."

Neither Perrotta nor Ancona made an official report about the approach, though Perrotta mentioned the group to a friend of hers at the Federal Reserve.

"I wasn't actually robbed, so I didn't expect the authorities to do much," Ancona says. It's hard to say how often such lending scams work. But they surely do— Perrotta discovered that the group targeting Ancona had successfully scammed other businesses out of hundreds of thousands of dollars in deposits.

The fraudsters can take other forms. Leslie Jacobs, a professional home organizer in New Britain, Conn., recently got a spate of phone calls from a self-described representative of the "Federal Government," offering a $250,000 loan.

"I thought it was really great the federal government wanted to give me money," she says with a laugh. "Then I realized it was probably a scam."

Mukang Cho, managing principal at Crown Street Capital, says the real estate firm passed on a $35 million loan offer in spring 2008, only because it got a better deal elsewhere. Shortly afterward, he learned that the lending group had disbanded and was likely a Ponzi scheme.

Even if entrepreneurs feel a lender is shady, they can will away their doubts, warns Ken Springer, a former FBI agent who is founder of private investigation firm Corporate Resolutions Inc.

"When people are desperate, they take desperate measures," he says. "They hope this will be their white knight."

State Rolls Out Quarterly Bid List

The Business Development Unit (Department of Management and Budget, Purchasing Operations) with the State of Michigan has announced the availability of the Quarterly Upcoming Bid List. This list contains projected future bid opportunities expected to be put out for bid between (approximately) April 1, 2010 and September 30, 2011.* Please note that bids from individual State agencies, DMB’s Design and Construction Division, and Michigan’s community colleges are not included in this list, but will still be posted through the State’s bid posting website.

The Upcoming Bid List provides vendors with the ability to research upcoming opportunities that fit their business model and prepare themselves to bid (on average bids go out 3 - 6 months before the expiration date depending on complexity). Through the "Open Contract" web link on the list, vendors will be able to examine the current contract online, including specifications, pricing, contract amount,** and buyer contact information for questions. Please note that interested vendors must register companies in Bid4Michigan in order to view and respond to bids. The attached State Contracting Checklist provides information regarding other resources available to vendors to maximize the time spent in the competitive bid process.

New this month is a feature to electronically subscribe to the Quarterly Upcoming Bid List. It will be emailed to interested you each time it is updated.

The weblink to the current Quarterly Upcoming Bid List is:

michigan.gov/buymichiganfirst/0,1607,7-225--231848--,00.html

Federal Government Launches New National Resource Directory for Military and Veteran Communities

Comprehensive Web site provides quick and easy access to thousands of resources nationwide.

Washington, DC – The U.S. Departments of Defense, Labor and Veterans Affairs, as part of their continued commitment to our Nation’s Service Members, Veterans, and their families, launched a new and improved National Resource Directory.

This free online tool provides access to thousands of services, programs and resources at the national, state and community level. The Web site has a fresh look with many key features that include an improved search engine, Really Simple Syndication (RSS) news feeds, subscriptions to e-mail updates, and new subject areas such as "Homeless Assistance."

The National Resource Directory is designed to serve a broad base of users including Wounded Warriors, Service members Veterans, their families and caregivers. In addition, it provides a useful tool for supporting service providers, such as Recovery Care Coordinators, Federal Recovery Coordinators, health care providers and case managers at Veterans Service Organizations.

"(The National Resource Directory) is wonderful," says Cara Hammer, an Army Veteran who served in support of Operation Iraqi Freedom. "I’ve been using it pretty regularly. It is very comprehensive and fool proof – I love it."

The new features allow the Military and Veteran community to identify and stay informed about the thousands of resources that are available to them as well as browse for information they may not have known about it the past. Additionally, a faster, more accurate search engine provides the tools to sort results by subject area, audience and government or non-government resources to ensure users locate exactly what they want, without having to sort through thousands of links themselves.

For more than a year, the National Resource Directory has provided Wounded Warriors, transitioning Service Members and Veterans, and those who support them with quick and easy access to resources they need. Resources on the National Resource Directory are vetted and must meet the participation policy standards before being added. This ensures that all the posted resources are relevant and from reputable sources.

The new National Resource Directory is simple, easy-to-navigate and even more relevant to the needs of the Wounded Warrior, Veteran and caregiver communities. It also contains "In the News" and "Spotlight" features to highlight important news and updates. To tell friends and family about the new National Resource Directory, use the "Bookmark and Share" function to post updates on more than 200 social media networks such as Facebook or Twitter.

To learn more about the National Resource Directory’s new features, and to explore the thousands of resources provided, visit the Web Site.

White House: Stimulus Funds Targeted Upgrades At Saginaw VA Hospital.

In a story noting that "Delta College's public broadcasting Web site has posted video of Vice President Joe Biden's visit to the campus last week," the Saginaw (MI) News (2/26, Engel, 37K) reports, "Biden's stop was part of a coordinated pitch the Obama administration pushed throughout the nation to highlight the federal economic stimulus package." According to the News, the "White House claimed Saginaw County has $90 million in federal stimulus funds targeted for everything from road repair...to upgrades" at the Aleda E. Lutz Veterans Affairs Medical Center in Saginaw.

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FYI Archives

01 March 2010
Hiring to Expand Veterans' Services

Be Wary of Advance Fee Loan Scams

State Rolls Out Quarterly Bid List

White House: Stimulus Funds Targeted Upgrades At Saginaw VA Hospital.

25 January 2010
Worst yet to come in Michigan? Small Business bankruptcies soar in 2009

Detroit Companies Graduate From SBA’s ‘Mini-MBA’ Program

Taking the Myths Out of Four Funding Fantasies

GAO Report Details Fraud in Procurement

23 November 2009
GAO Report Cites Fraud in SDVOB Contracting

Detroit Companies Graduate From SBA’s ‘Mini-MBA’ Program

Goldman Sachs Small Biz Program Sparks Interest

Healthy Business Credit Is Demystified

09 November 2009
SBA Lending Down Sharply in Michigan

Funding Cuts at Vets Homes Sparks Rebuke

Building Your Biz Credit

Sagging Economy Prompts Entrepreneurial Spirit

Getting That Elusive Biz Loan

09 October 2009
Six Ways to Land Venture Funding

24 August 2009
SBA ASSISTING SMALL BUSINESSES

DEPUTY SECRETARY CITES PARTNERSHIP WITH PRIVATE SECTOR

VETERAN BUSINESS NEWS GAZETTE

05 August 2009
DINGELL CONCERNED ABOUT PARKING SITUATION AT VA HOSPITAL IN DETROIT

PANEL AGREES ON NEED TO REFORM VETERANS’ DISABILITY SYSTEM

PHAMPHLETS AND FACT SHEETS

GI BILL INFORMATION

BENEFIT PHAMPHLETS

20 July 2009
Getting Small Business Contracts to Small Businesses

Volunteers Attend To Landscaping At Arlington Cemetary

Operation Comfort Warriors: Our Pride and Purpose

22 June 2009
A Different Kind of Boot Camp

GAO ruling assailed; Vets Urged to Act Quickly to Overturn

ARC money will go fast, from the Tampa Bay Business Journal... Small Business Administration Bridge Loans Likely to go Quickly

05 June 2009
House Bill calls for placing SDVOB program under 8a

Senators prepare for battle over Alaska native contracting

Lending up; much left to accomplish, says SBA Chief

25 May 2009
SBA Launches New 100% Guarantee ARC Loan Program on June 15

Lutz VAMC Will Not Allow Medical Marijuana In Hospital.

VA Hires 530 New Claims Processors To Handle GI Bill Applications

Michigan's Disabled American Veterans' Offices Set For Closure Given Four-Week Reprieve.

USAVETBIZ to Urge Congress for Government-Wide Preference Contracting and Set-Aside Programs for all Veteran-Owned Small Businesses

Heroes in Helmets Family Fun Walk

27 April 2009
VA Announces Recovery Spending Includes $250 Payment to Eligible Veterans

VA Officials Barred From Testifying Before Subcommittee

New VA Clinic To Be Dedicated In Early May

23 March 2009
American Legion Commander Praises Obama’s Change in Plan

Open Letter from VA Secretary

Congress to Agencies: Don’t Shortchange Vets on Contracting

16 March 2009
Is Stimulus harmful To SDVOSB’s?

Vets object to billing private insurance for service injuries

Agencies to direct stimulus funds to veteran-owned small businesses

09 March 2009
Lessons Learned on the Farm Still Apply to Small Businesses

Senator Lieberman Addresses Rumored Tricare Cuts

02 March 2009
Powerball is Stimulus Ticket?

Bid4Michigan—The New Name to Remember!

How Small Business Will Benefit From Obama's Stimulus

Point, Counterpoint On Stimulus Impact On Small Businesses

23 February 2009
Camp Lejeune Water Study Underway

Some Non-profits Shortchange Troops,
Watchdog Group Says

16 February 2009
Military Veterans Land More than
$250 Million in SBA Loans

SBA’s Bill Elmore on Patriot Express Reaching $250 Million

Landrieu and Snowe Highlight Key Small Business Provisions of
Economic Recovery Package
Renew call for elevating SBA Administrator to Cabinet-level status

09 February 2009
Ever Dream of Starting a Business?

Veterans Inaugural Ball Scam Investigated

02 Februrry 2009
Stimulus Bill Aims to Boost SBA Lending

D.C. Restaurant Apologizes to Marines