Fueling Dallas' small business boom: Why community banks matter more than ever
At the heart of this surge are entrepreneurs eager to transform their ideas into thriving enterprises. While success requires grit, passion and resilience, it's often the unseen support of trusted advisors that fuels long-term growth.
An essential partner to a growing business is their community bank. Whether funding a local developer's next big project, helping a restaurant expand to a second location, or providing a rancher with equipment financing, a bank is more than just a lender. It's a dedicated partner throughout the growth journey. Local banks offer more than capital. They deliver personalized guidance, rooted in real-world experience and a deep understanding of the local market. It's the kind of insight you won't find at national chains, and it can be the difference between just getting by and scaling up.
Growing a business is hard. Banking shouldn't be.
Nearly 50% of small businesses don't make it past their fifth year, and less than 10% achieve more than $1 million in annual revenue.* This isn't because of a lack of vision or hard work, but often due to limited access to capital, cash flow challenges and the need for trusted financial advice.
This is where local community banks stand apart. Community banks like Harmony Bank, founded in Texas and operating for 100 years, are rooted in relationships, with decisions made locally by people who truly understand the unique needs of businesses in their communities.
What sets community banks apart
Local lending, local decisions. Loan decisions are made by people who know your community and understand the local market — people who are genuinely invested in your success. Tailored solutions for real goals. From lines of credit to SBA loans and equipment financing, community banks structure flexible solutions that align with your unique business goals, without all the red tape. Capital that stays local. Your deposits stay where they belong — funding local North Texas businesses, homeownership and vital infrastructure. Last year, local banks helped finance everything from small business startups to rural broadband expansion. A partner for the long haul. Community banks are there from day one and remain by your side as your business grows. Whether you're scaling, expanding or planning your next move, your bank is committed to your long-term success.
Celebrating small businesses every day
While May is officially Small Business Month, supporting small businesses is an ongoing mission for community banks. Every day, local banks invest in the entrepreneurs who drive our local economies, turning big ideas into tangible impact.
As you look ahead, take a moment to reflect: Is your bank simply holding your money, or is it actively invested in helping your business grow, thrive and reach new heights?
Now is the time to build the future of your business with a partner, like Harmony Bank, who understands your vision, backs your ambitions and is here for the long term. Whether your business is navigating turbulent times or experiencing growth, now's the time to establish a relationship with a local bank who can help you see it through successfully.
For over 100 years, Harmony Bank has partnered with the people who build our communities. From startups to family legacies, we offer local expertise, personalized banking and a long-term commitment to our customers' success. With 11 branches and a strong focus on small business success, Harmony offers deposit and lending solutions tailored to your goals. Learn more at harmony.bank.
*According to sources collected by Harmony Bank
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Best No Credit Check Business Financing Demand Rises as ROK Financial Expands Access to Small Business Loans in 2025
The best no credit check business financing options in 2025 are gaining momentum as small business owners face tighter traditional lending standards and rising uncertainty in the economy. ROK Financial is meeting this demand with flexible loan programs, instant pre-approvals, and expanded access to capital for entrepreneurs across industries. By offering a range of solutions — from working capital and SBA loans to equipment and real estate financing — the company reflects a larger movement toward credit-independent funding that aligns with modern business needs. Austin, Aug. 16, 2025 (GLOBE NEWSWIRE) -- The information below is provided for general informational purposes only and does not constitute financial or professional advice. Funding availability, terms, and approval times may vary by applicant and lender. Always confirm details directly with the official provider before applying for financing. If you apply through links in this article, the publisher may earn a commission at no additional cost to you. Best No Credit Check Business Financing Demand Rises as ROK Financial Expands Access to Small Business Loans in 2025 Small business owners in 2025 face growing challenges securing traditional credit, driving demand for the best no credit check business financing options available today. ROK Financial positions its flexible funding programs as part of a wider movement toward alternative lending solutions that meet entrepreneurs where they are. From instant pre-approvals to expanded small business loan access, the company reflects a trend reshaping how owners approach capital needs. With economic uncertainty pressing harder than ever, credit-independent financing continues to draw attention nationwide. Across industries, the appetite for faster approvals, flexible repayment terms, and funding paths outside conventional banks is shaping the conversation. Entrepreneurs are exploring alternatives that keep operations steady without waiting months for traditional underwriting. This is where ROK Financial steps forward, aligning its suite of programs with shifting business priorities. Owners can now compare multiple loan types, from term loans and SBA financing to equipment or commercial real estate lending, all under one trusted source. Explore Small Business Financing Options with . Earlier press releases from ROK Financial, including and , have already emphasized the company's focus on credit-independent lending. These announcements align with wider business finance discussions, where small business owners continue to seek flexible solutions in uncertain conditions. Section 1: Why Interest in Best No Credit Check Business Financing Is Surging in 2025 The conversation around business financing in 2025 is being shaped by several undeniable pressures. Rising interest rates, tightened bank lending standards, and ongoing economic uncertainty have forced many small business owners to search for solutions outside traditional credit channels. In this environment, the best no credit check business financing options are drawing record levels of attention. Search data points to this surge in interest. Queries for 'business loan with no credit check,' 'fast small business funding,' and 'alternative business financing' have grown steadily in recent months. Online forums, business communities, and resource hubs reflect the same trend: owners are asking how to secure capital quickly without risking rejection due to imperfect credit scores. The momentum is not confined to one industry. Restaurants recovering from pandemic-era challenges, contractors bidding for new projects, retailers adjusting to digital-first competition, and logistics firms coping with supply chain volatility are all looking for ways to stabilize cash flow. This shift is also cultural. Business creators, side hustlers, and startup founders are more familiar with fintech platforms than with local bank officers. They expect funding to be accessible, digital-first, and responsive in days rather than months. The demand is not driven solely by desperation but by a recognition that the old model of credit-heavy lending no longer meets the realities of modern business operations. ROK Financial reflects this shift by presenting owners with practical entry points into credit-independent lending. Its platform allows business owners to compare term loans, lines of credit, SBA programs, and specialized financing types with a single application. For many, the availability of multiple choices without the weight of a high credit threshold makes the difference between delaying growth and moving forward. Section 2: No Credit Check Business Financing as a Response to This Shift The rise in demand for the best no credit check business financing has forced providers to rethink how they structure lending opportunities. Traditional banks often rely on rigid approval models that filter out many small business owners who have limited credit history or who carry scores below prime thresholds. This has left entrepreneurs searching for lenders who can respond to real-world challenges without creating impossible barriers. ROK Financial has positioned its platform as one of the answers to this shift. Rather than tying every approval to an applicant's credit score alone, the company evaluates the broader picture of business performance. Monthly revenue, time in business, and operational strength are given equal weight in determining funding eligibility. This approach is designed to give owners more than a single pathway toward capital. By offering multiple product types — from term loans and working capital to SBA loans and equipment financing — the platform empowers businesses to select what matches their immediate priorities. The application process mirrors the fast-paced environment small business owners operate in. Secure pre-approval can be obtained in seconds, offering a realistic view of potential funding without the drawn-out uncertainty common in bank interactions. Many owners view this as a relief in an era where time lost waiting for traditional underwriting can translate into missed opportunities. For example, a contractor needing equipment to take on a new project or a retailer planning an expansion cannot afford to pause for months. Flexible, credit-independent programs fill this gap. This shift also reflects a broader change in expectations. Business financing is no longer judged solely on interest rates but also on the accessibility of funds, the range of available terms, and the speed of disbursement. With approvals ranging from $10,000 up to $5 million and timelines measured in days rather than weeks, programs like those at ROK Financial represent an adjustment to market realities. For entrepreneurs who might otherwise be excluded from growth opportunities, these pathways provide a functional bridge between ambition and execution. Section 3: Inside the Platform, Program, or Service The discussion around the best no credit check business financing is not abstract — it comes down to the practical options available to owners navigating daily cash flow and long-term growth. ROK Financial structures its platform around multiple lending categories so that businesses can align funding with their unique circumstances. Each option carries its own balance of flexibility, timelines, and ranges, giving entrepreneurs the ability to choose what fits rather than accept a one-size-fits-all product. Term Loans and Working CapitalThese loans are often used by companies planning expansions, purchasing equipment, or covering short-term expenses. ROK Financial makes these loans available from $10,000 up to $5 million, with terms ranging from six months to ten years. The timeline for funding is fast, usually between one and three days. For businesses needing upfront capital with the ability to seek additional funding later, this category provides a straightforward entry point. Business Lines of CreditLines of credit are designed for owners who want ongoing flexibility rather than a single lump-sum disbursement. Businesses can draw as needed, repay, and then draw again. ROK Financial offers credit lines in the same $10,000 to $5 million range, with funding often released in one to three days. This appeals to owners who must manage cyclical expenses, seasonal dips, or rolling investment opportunities. SBA LoansSmall Business Administration programs remain an anchor in the financing world, yet they can be difficult to access through traditional banks. ROK Financial simplifies the process, offering SBA loans from $10,000 up to $5 million, with extended terms between ten and twenty-five years. Funding typically takes thirty to forty-five days, reflecting the additional paperwork required. For owners willing to plan ahead, SBA loans provide longer repayment timelines and government-backed support. Equipment FinancingCompanies in construction, logistics, healthcare, and manufacturing often face the challenge of securing equipment that can generate revenue but requires significant upfront cost. ROK Financial provides equipment financing in the range of $10,000 to $5 million, with terms spanning one to six years. Funding is often available in two to five days, giving owners a rapid path to acquiring essential assets without disrupting cash flow. Accounts Receivable and Purchase Order FinancingBusinesses with outstanding invoices or incoming purchase orders frequently need liquidity before payments arrive. ROK Financial supports accounts receivable and PO financing starting at $100,000 and scaling higher for industries such as trucking, oil and gas, construction, staffing, and medical services. These programs allow businesses to leverage aged invoices, often within two to five days, turning future receivables into present capital. Commercial Real Estate FinancingFor companies investing in property, ROK Financial provides commercial real estate loans ranging from $250,000 to $10 million. Terms extend from ten to thirty years, with funding available in approximately twenty-five to forty days. These loans are used for purchasing or refinancing properties, enabling businesses to secure long-term assets with structured repayment plans. By presenting this full suite of lending products, ROK Financial underscores the shift toward credit-independent flexibility. Owners are no longer forced to fit into a narrow lending box. Instead, they can evaluate multiple options, match funding type to their specific needs, and move forward without the delays and restrictions often associated with traditional credit channels. Section 4: What Online Users Are Saying About This Category The growing focus on the best no credit check business financing is visible across digital communities where entrepreneurs share their experiences and concerns. In forums dedicated to small business operations, owners frequently compare how fast alternative lending decisions arrive compared to traditional banks. Many describe the relief of receiving approvals in days instead of waiting weeks for conventional underwriting. On platforms such as TikTok and YouTube, creators discuss the broader appeal of financing options that do not depend exclusively on credit history. They emphasize the convenience of pre-approval tools and the accessibility of loans structured around revenue rather than personal scores. These conversations do not present guarantees but reflect genuine curiosity about how alternative lending works in practice. Podcasts and business-focused livestreams echo the same sentiment. Listeners are drawn to discussions about flexibility, particularly when experts note that credit-independent financing helps businesses stay operational during periods of economic pressure. While skepticism exists — especially around repayment terms and long-term sustainability — the cultural conversation illustrates that owners are increasingly open to exploring models beyond conventional bank financing. By analyzing these discussions, it becomes clear that demand for solutions like those offered by ROK Financial is not only practical but cultural. Entrepreneurs are reshaping expectations about how funding should work, and they are vocal about the need for speed, transparency, and accessibility. This online sentiment adds context to the surge in searches and applications for no credit check business financing, underscoring why the category continues to expand in 2025. Section 5: Who Might Gravitate Toward This Product in 2025 The appeal of the best no credit check business financing spans multiple industries and business stages. While every company has unique circumstances, several groups stand out as particularly aligned with flexible, credit-independent lending solutions. Entrepreneurs in fast-growth sectors often look for capital that keeps pace with their opportunities. Whether launching a new location, funding inventory, or expanding digital operations, these owners need access to funding that arrives quickly and adapts to evolving revenue streams. Traditional banks frequently struggle to meet this timeline, making platforms like ROK Financial more relevant than ever. Small businesses operating in industries with fluctuating cash flow also find value in alternative lending. Contractors, trucking companies, seasonal retailers, and restaurants often experience peaks and valleys that require capital at irregular intervals. For these owners, the ability to secure a line of credit or short-term financing without being judged solely on credit scores provides meaningful stability. Another group includes long-standing businesses that might have strong revenue but imperfect credit. These companies are often overlooked by conventional lenders despite proving consistent performance over time. By expanding qualification criteria beyond personal credit, ROK Financial enables these established businesses to pursue investments, hire staff, or upgrade equipment with greater confidence. Finally, startups and early-stage companies may explore alternative financing as a bridge toward larger opportunities. While they may not yet qualify for traditional SBA programs, revenue-based lending offers a foothold that helps them build momentum. With as little as six months in business and $10,000 in monthly sales, a young company can establish credibility and prepare for larger financing rounds in the future. Entrepreneurs in this position can in minutes through a streamlined pre-approval. In every case, the thread remains the same: business owners want funding designed for their realities, not a system that excludes them for falling outside rigid credit boundaries. This alignment is why credit-independent lending continues to expand as a defining trend in 2025. Section 6: Market Category Reflections – Why This Niche Is Expanding The rise of the best no credit check business financing is not an isolated trend. It is part of a larger shift in how business owners approach capital in an economy defined by volatility, technology adoption, and changing consumer behavior. Several forces are combining to expand the niche at an accelerated pace. One driver is the tightening of traditional credit. Banks remain cautious after years of economic uncertainty, raising barriers for small business borrowers. Higher minimum credit scores, longer approval timelines, and reduced lending appetite have left many entrepreneurs with few options. This gap has created space for credit-independent models to emerge and grow. Another factor is the growing role of fintech. Business owners are comfortable with digital-first tools, from accounting platforms to payroll systems, and they expect the same speed and simplicity from financing providers. Pre-approval processes that take seconds, transparent dashboards that show available terms, and flexible repayment schedules all reflect the broader fintech mindset. Cultural attitudes also contribute. A new generation of entrepreneurs is less tied to the idea that banks are the only source of legitimacy in lending. Instead, they prioritize outcomes: how quickly capital can be accessed, how repayment fits into cash flow, and whether the financing supports sustainable growth. This shift in thinking further normalizes the exploration of credit-independent lending. The broader financial conversation reflects these themes. Terms such as 'alternative lending,' 'digital-first funding,' and 'credit-independent financing' continue to rise in visibility across search engines and industry blogs. Owners are not only seeking funding; they are seeking options that match the realities of running a business in 2025. For ROK Financial, this environment reinforces its positioning. By offering multiple product types — from term loans and lines of credit to SBA, equipment, and commercial real estate financing — the company is aligned with where the market is heading. Business owners searching for alternatives beyond conventional credit paths are increasingly finding solutions within platforms designed around accessibility and speed. Those evaluating next steps can to see how different programs align with their needs. The niche continues to expand not because it is trendy but because it reflects real business requirements. As long as economic pressures persist and traditional credit remains restrictive, no credit check financing will remain a central part of the small business funding conversation. Section 7: Public Debate – Supporters, Skeptics, and the Signals Behind the Buzz The rapid growth of the best no credit check business financing has generated both support and skepticism in public discussions. Entrepreneurs, analysts, and community voices continue to weigh in, shaping the perception of credit-independent lending. Supporters often frame these programs as an essential lifeline for small businesses. They highlight how faster approvals and flexible qualification criteria allow owners to stay competitive in industries where timing matters. Many business owners share experiences of losing contracts or delaying expansions because traditional banks would not provide capital quickly enough. To supporters, alternative financing is not just convenient; it is critical to maintaining business momentum. Skeptics focus on questions about sustainability and long-term costs. Some argue that owners should be cautious about repayment structures and ensure that borrowed capital is matched with revenue growth. Critics warn against treating alternative lending as a blanket solution for all companies, pointing out that businesses still need to manage debt responsibly. This perspective adds balance to the conversation, reminding owners that financing decisions carry consequences. Neutral observers note that public forums remain divided. In Reddit threads, online Q&A sessions, and business webinars, participants explore both the opportunities and the risks. The consistent theme is curiosity: owners want to know how credit-independent programs work, whether they are accessible to businesses with limited history, and how they compare to conventional loans. For ROK Financial, these conversations demonstrate the importance of transparency. By clearly outlining terms, timelines, and eligibility requirements, the company provides owners with information to make informed choices. The availability of multiple loan types on one platform helps balance the debate, since businesses are able to select the structure that best fits their needs. The public debate will continue as the category grows, but what remains clear is that no credit check business financing has moved from a niche option to a mainstream consideration. The signals behind the buzz show both optimism and caution, reflecting a healthy marketplace where owners evaluate their options with increasing sophistication. Section 8: About ROK Financial ROK Financial has built its mission around expanding access to business financing in ways that align with real-world challenges. From its headquarters in New York, the company provides small business and commercial lending solutions designed to help owners move forward with clarity and confidence. By combining multiple product types into one platform, ROK Financial allows entrepreneurs to compare options, secure funding, and plan growth strategies without navigating disconnected providers. The company's values extend beyond transactions. Through its partnership with Feeding America, ROK Financial has helped provide more than one million meals to families in need. With each successful transaction, additional meals are donated, reinforcing the company's role as a financial partner that also invests in community support. This social commitment reflects a broader belief that business financing should contribute not only to economic growth but also to social responsibility. Transparency and accessibility remain central to the company's approach. Clear eligibility requirements, straightforward timelines, and responsive customer service set expectations for owners before they begin the application process. This emphasis on honesty and clarity aligns with the public demand for financial institutions that prioritize long-term relationships over short-term gains. Entrepreneurs seeking a financing partner built around trust, speed, and flexibility can to learn more about available programs and services. Section 9: Contact ROK Financial Email: info@ Phone: (833) 3-ROKBIZ Website: Section 10: Final Disclaimer This press release is for informational purposes only. The content herein does not constitute financial, legal, or medical advice. No Credit Check Business Financing is not intended to diagnose, treat, predict, or guarantee any result or outcome. Individual experiences may vary, and outcomes are not assured. Some links in this release may be promotional in nature and may lead to third-party websites. The publisher or author may receive compensation through affiliate commissions if a purchase is made through these links. This compensation does not affect the price you pay and helps support continued research and content publication. All statements made about product features, platform strategies, or financing content reflect publicly available information, user discussions, or historical trends, and are not endorsed or validated by regulatory bodies. Please perform your own research before making financial or purchasing decisions. CONTACT: Email: info@ Phone: (833) 3-ROKBIZ
Business Journals
2 days ago
- Business Journals
Harmony Bank Committed to Midlothian – Investing in Local Growth, Businesses and Families
Harmony Bank is thrilled to share that we're focusing our energy, investment, and imagination on Midlothian, Texas—one of our newest growth markets and a community we've admired for a long time. When we look at where Texans are building their futures, Midlothian stands out: families putting down roots, entrepreneurs turning ideas into storefronts, and civic leaders shaping a dynamic, welcoming hometown. For a relationship bank like ours, that combination is irresistible. We're not simply expanding a footprint; we're choosing to be present where momentum meets heart, and Midlothian has both in abundance. We have an established loan & deposit office at 110 Roundabout Dr Suite B, which is led by Senior Vice President, Commercial Loan Officer Kendra Gouge. With her deep roots in the area and wealth of experience in Commercial & Industrial Lending (C&I), SBA and Commercial Real Estate projects, we are primed to help Midlothian grow. What excites us most is the spirit of partnership we feel every time we talk with people here. Midlothian's story is one of steady, thoughtful growth—guided by neighbors who show up for one another, small businesses that reinvest locally, and schools and nonprofits that elevate the entire community. Harmony Bank's core belief is that banking should be a catalyst for good: a steady hand for households, a nimble resource for business owners, and a committed partner for community organizations. That's exactly the role we're eager to play in Midlothian. For local businesses, our focus is on practical advice and fast answers. Entrepreneurs don't have time to wait weeks for decisions, and they deserve a banker who understands how cash flow, inventory cycles, and hiring plans interact in the real world. Whether you're opening a second location, investing in equipment, navigating seasonal swings, or planning for multi-year expansion, we're bringing relationship lenders who will pick up the phone, meet you at your shop, and tailor solutions that make sense for your margins and your timeline. From SBA lending and owner-occupied commercial real estate to lines of credit and treasury services, our toolkit is built for business momentum—and our service model is built for clarity and speed. Community partnership is more than a tagline for us, it's a commitment that shows up in how we spend our time and where we put our dollars. As we focus on Midlothian, we're ready to roll up our sleeves with local nonprofits, schools, chambers, and civic groups that make this city special. A healthy local economy is about more than loans and deposits; it's about trust, shared goals, and a long horizon. We want to be the bank that shows up on Saturday morning, not just at quarter-end. Of course, excitement doesn't mean much without access. We're leaning into a 'high-touch meets high-tech' model so customers can bank their way, whether that's face-to-face relationships with a dedicated banker or seamless digital tools on the go. Expect user-friendly online and mobile banking, remote deposit capture, and robust treasury management supported by real people who know your name. For businesses, that also means ACH origination, positive pay, merchant services, and the kind of cash management support that frees up time to run the company rather than reconcile spreadsheets. We'll measure our success not only by balances and loan volumes, but by how many doors we help open: new storefronts on busy corners, expanded payrolls that create local jobs, and milestones for families who can plan with confidence. The culture fit between Midlothian and Harmony Bank is another reason we're so energized. We share a bias for action and a belief that decisions belong as close as possible to the people they affect. Our teams are empowered to make common-sense calls quickly, to customize solutions instead of forcing a template, and to respond to opportunities in days, not months. That local authority is backed by experienced risk management and a conservative balance sheet, so you get the best of both worlds: agility when you need it, and stability you can count on. If there's a single word that captures our outlook, it's 'partnership.' We're honored by the trust that banking relationships require and energized by the chance to earn that trust day after day. To the entrepreneurs taking risks, the families planning for the future, and the leaders guiding growth—Harmony Bank is here to help you move forward with clarity and confidence. We can't wait to celebrate your milestones and stand steady when challenges arise. That's what neighbors do. Midlothian, thank you for welcoming us. We're excited to show you what a true relationship bank can be: responsive, practical, and rooted in your success. Whether you're exploring financing for a project, opening an account for a new business, or simply looking for a bank that picks up the phone and calls you by name, Harmony Bank is ready. Together, let's keep building a community where opportunity is accessible, businesses thrive, and families flourish.
UPI
5 days ago
- UPI
Ex-Blueacorn exec admits to COVID-era small business loan scheme
Aug. 12 (UPI) -- An ex-financial executive is likely to spend years behind bars over wire fraud charges in an alleged pandemic-era financial scheme to defraud the federal government's small business loan program. The U.S. Department of Justice said Monday that Nathan Reis, now of Rio Grande in Puerto Rico by way of Arizona, pleaded guilty in Texas to one count of conspiracy to commit wire fraud for his role as company chief at Scottsdale-based lender Blueacorn. The plea was tied to attempts to fraudulently obtain relief money via the U.S. Small Business Administration's Paycheck Protection Program during the COVID-19 pandemic. "This defendant had the opportunity to help small businesses overcome tremendous financial hardships during a time of national crisis but instead exploited the system to line his own pockets with taxpayer money," Nancy E. Larson, the acting U.S. attorney for the northern district in Texas, said in a statement. Reis, 47, created the venture in 2020 with his wife, Stephanie Hockridge, a former KNXV television anchor in Phoenix, purportedly to help small businesses and owners to obtain the federal government's PPP loans. "Blueacorn connects technology and financial expertise to help small businesses, independent contractors, self-employed individuals, and gig workers with their financial needs," the company's website reads. In June, Hockridge was found guilty of conspiracy but acquitted on multiple counts of wire fraud. His guilty plea was filed after an initial plea of not guilty. The SBA's Paycheck Protection Program was part of the 2020 CARES Act singed by then-U.S. President Donald Trump during the virus outbreak in his first term. It was targeted to infuse money into small businesses to bankroll payroll and other business-related expenses. According to court documents, Reis conspired with business associates to "submit false and fraudulent PPP loan applications." It included "fabricating documents that falsified income and payroll figures in order to receive loan funds for which they were not eligible." Federal officials contend that Blueacorn was the vehicle through which Reis and co-conspirators submitted an undisclosed number of fraudulent PPP loan applications that, according to the Justice Department, "they knew contained materially false information to make more money." "Reis and others fabricated documents, including tax documents and bank statements," the deparment added. "As part of the conspiracy, Reis and his co-conspirators charged borrower's fees based on a percentage of the funds received." The SBA's well-intended PPP opened the door to waves of other similar acts of fraud. "During a national emergency, this defendant exploited a taxpayer-funded program that individuals and small businesses desperately needed to survive," acting Assistant U.S. Attorney General Matthew Galeotti in DOJ's criminal division, said in a release. The fraud section at Justice has seized nearly $80 million and prosecuted more than 200 defendants in over 130 separate PPP-related criminal cases. In January, seven people were charged by a federal grand jury in a multi-state conspiracy that defrauded more than a half-billion dollars in over 8,000 bogus pandemic-era tax returns. "Reis and others exploited a program meant to keep small businesses afloat during the pandemic," stated Assistant Director Jose A. Perez of the FBI's Criminal Investigative Division. Any individual with info on COVID-related fraud attempts may contact the department. Reis is schedule for sentencing November 21. He faces a max penalty of 20 years in prison contingent upon sentencing guidelines by a federal judge, and $250,000 in fines.
