AGP Executive Report

Consumer & Credit Watch: Bank of America CEO Brian Moynihan says consumer spending is still holding up, with boomers and seniors spending faster, and strong credit flows from small- and medium-sized businesses. State Tax Pressure on SMBs: Pennsylvania lawmakers advanced a bill to extend the state’s 5% gross receipts tax to digital ad services, a move supporters call “modernization” but critics warn could raise costs for small businesses and consumers. Disaster Loans Deadlines: The SBA reminded Mississippi businesses and nonprofits hit by Winter Storm Fern that June 10 is the deadline for physical-damage loans. Fraud Enforcement: A former NYPD detective was sentenced for a Paycheck Protection Program fraud scheme targeting SBA funds. Trade & Tariffs: The U.S. proposed new tariffs tied to forced-labor concerns and is also seeking public input on a U.S.-China “Board of Trade” mechanism that could affect what goods small firms can source or sell. Local Growth & Capital Access: A West Virginia expo connected business owners with SBA and lender resources, while a community college in Ohio hosted a free financing workshop for underserved founders. Small-Business Hiring Signal: ADP reported private payrolls grew by 122,000 in May, with small businesses adding the most jobs. Tech Payments Risk: PayPal froze and closed some Kenyan accounts, leaving freelancers and small businesses facing verification hurdles and fund holds. Franchise Expansion: Fork to Fit Kitchen signed its first multi-unit development deal for four San Antonio locations.

Energy Costs: Georgia’s gas tax suspension ends Tuesday night, and small operators like food trucks say they’re already bracing for higher fuel costs as prices rise. Electric Bills: A new take links soaring summer power bills to supply not keeping up with demand from data centers, manufacturing, and electrification. Disaster Relief Deadlines: SBA disaster loan applications are time-sensitive in multiple places, including Tennessee storm damage (deadline June 10) and other recent SBA expansions for drought and tornado-impacted counties. Small-Business Financing Help: Northwest State Community College is hosting a free workshop to help underserved founders understand financing and readiness. Trade & Tariffs: USTR opened public comment on a U.S.-China Board of Trade and possible tariff changes on non-sensitive goods, with comments due July 10—watch this for downstream effects on manufacturers and importers. Local Business Impact: After Super Typhoon Sinlaku, small shops in the Northern Marianas report higher shipping costs and staffing/inventory pressure. Business Basics: A guide breaks down key responsibilities for sole proprietors, from recordkeeping and Schedule C taxes to personal liability and licenses.

Trade & Tariffs: The U.S. Trade Representative says Brazil’s social media misinformation rules and its “Pix” digital payments push justify a 25% tariff, a move already drawing criticism that it won’t help U.S. jobs or small businesses. Energy Upgrades: Alexandria, Virginia’s Switch Together program offers up to a 15% discount on heat pump installs, creating near-term demand for local HVAC contractors as federal incentives shift to state and city programs. SBA Financing Boost: Starting July 4, eligible borrowers can combine SBA 7(a) and 504 loans for up to $10 million total, expanding capital options for small businesses. Disaster Relief: SBA issued a disaster declaration for Brantley County, Georgia, clearing the way for low-interest disaster loans for wildfire victims, including up to $2M for businesses. Payments Pressure: Illinois’ credit card swipe fee law was delayed to July 1, 2027 after a court stay, keeping interchange-fee costs on the books for retailers and other small merchants. Procurement Fraud: Two government contractors agreed to pay $3.6M over alleged false claims tied to service-disabled veteran-owned small business set-aside contracts. Local Business Spotlight: U.S. Rep. Sean Casten visited Chicago’s 95th Street corridor during National Small Business Week, hearing firsthand about credit card swipe fees and other operating costs. Manufacturing Support: SBA’s Manufacturing in America E2G Grant Initiative will fund training and technical assistance for small manufacturers, with proposals due June 15.

Disaster Loans Deadline: The SBA is reminding Minnesota businesses and private nonprofits to apply by June 30 for low-interest disaster loans tied to July 2025 severe storms and flooding, with Economic Injury Disaster Loans available for working capital losses. Disaster Relief Deadlines: Another SBA reminder: affected businesses and nonprofits in Colorado just received $1.81M for the state Small Business Development Center, while Michigan tornado victims have a June 29 deadline for SBA disaster loan applications. Payments Fight: Illinois lawmakers delayed a law limiting certain credit card swipe fees again, pushing implementation to July 1, 2027, keeping pressure on how the fees are handled for small retailers and restaurants. Tariff Uncertainty for SMBs: New lawsuits aim to block Trump’s 10% tariffs, as a federal appeals court weighs whether to keep an injunction protecting some small businesses and Washington state. AI for Call-Answering: NexusCall AI says its 24/7 AI receptionist can help service SMBs recover revenue lost to missed calls, including booking appointments and qualifying leads. Cybercrime Sentencing: A ransomware negotiator tied to major attacks was sentenced to 8.5 years, underscoring ongoing enforcement risk for small firms hit by ransomware.

Disaster Relief: The SBA opened low-interest disaster loans for South Carolina drought losses (EIDL up to $2M) and reminded Michigan tornado victims that the June 29 deadline is coming, with coverage across multiple counties and options for business, home, and mitigation loans. State Policy: Illinois lawmakers delayed a credit card swipe-fee limit, pushing implementation to July 1, 2027—sparking pushback from retail and small business groups. Local Recovery Grants: Asheville launched a $14.6M Hurricane Helene grant push for small businesses, with applications running June 15–July 14. Financing & Compliance: A new public “Trust Standard” aims to help owners vet compliance filing providers and avoid filing mills; meanwhile, a court stay pauses a CFPB small business lending rule challenge until a revised rule takes effect June 30. Mentoring & Matchmaking: SCORE’s free one-on-one mentoring returns in Pasadena, and the SBA and GM host a Supplier Matchmaking Expo in Detroit on June 5. Operations & Tech: NMFS proposed requiring certain commercial fishermen to submit logbooks electronically, and Huntington rolled out an all-in-one payments platform to simplify invoicing and vendor payments. AI Caution: A Florida lawsuit targets OpenAI over ChatGPT safety claims, adding pressure on how businesses use AI tools.

Aviation & Trade Shock: A push to remove CBP officers from Newark Liberty could strand American travelers, disrupt cargo, and hit small-business shoppers tied to international visitors—an estimated $8B annual loss is on the table. Inflation Pressure on Main Street: Mohawk Valley small businesses are feeling rising gas, food, electricity, housing, and healthcare costs, with chambers and lawmakers hunting for relief. Cost-of-Living at the Register: A Bangor-area grocery price check found shoppers often need to compare multiple stores and sales to manage higher beef and produce costs. Local Economic Boost: Pennsylvania’s Main Street Matters is investing $17.2M across 56 projects to revitalize downtowns and support small businesses. Disaster Aid Access: Hawaii County residents can apply for Kona-low recovery grants (deadline June 14), with FEMA and local recovery centers offering help. Payment Friction for Small Eateries: Some restaurants still take only cash to avoid credit card fees, keeping a low-tech option alive for tight margins. AI ROI Reality Check: Uber is questioning whether AI spending is delivering measurable customer gains—another reminder to small firms to track costs vs. results. Fair Lending Fight: A coalition sued the CFPB over a rule it says could weaken decades of fair-lending protections.

Main Street Funding: Pennsylvania is awarding $17.2M for 56 downtown and small-business projects through the Main Street Matters program, after receiving 220+ applications—another reminder that local storefronts still drive jobs and foot traffic. Marijuana Policy Uncertainty: The DOJ’s move to reclassify medical marijuana to Schedule III helps some operators with federal tax benefits, but businesses still face a messy federal-state split while the DEA weighs broader changes. Consumer Data & Pricing: States are pushing bills to limit or ban surveillance pricing, where retailers use shopper data to change prices—Maryland already banned it, and lawmakers are watching whether it truly protects customers. Home-Based Business Reality: New reporting highlights how many small businesses now run from home, offering flexibility but demanding discipline to handle unique challenges. Disaster Aid for Small Businesses: FEMA and SBA are expanding and updating recovery-center schedules for Hawai‘i Kona-low impacts, including help for homeowners, renters, and businesses. AI ROI Pressure: Uber is questioning whether AI spending is paying off, a useful caution for small firms weighing automation costs. Fraud Crackdown: A Burbank blood-testing lab owner was sentenced to 51 months for Medicare shill fraud and tax evasion, underscoring enforcement risk for healthcare-adjacent small businesses.

Immigration Pressure on Small Businesses: A new Trump administration move is cutting immigrants off from jobs, health care, and housing, using executive power and targeted regulations that can hit thousands of people at a time. Court Fight Over Wage Records: Delaware leaders are responding after a federal court ordered the state to release wage records tied to an ICE case, raising concerns about impacts on immigrant communities and small employers. Disaster Relief Updates: FEMA and the SBA added new in-person recovery center dates and locations for Maui County after the Kona Low flooding, with help for homeowners, renters, businesses, and nonprofits plus low-interest disaster loans. SBA Disaster Loans (More States): SBA also reminded Oklahoma businesses and residents about a June 30 deadline for adverse-weather loan applications, and Georgia wildfire victims can apply for low-interest disaster loans. Local Growth Watch: Raleigh-Cary ranks No. 4 for small business performance, driven by business formation and tech talent, while Salem, Ohio identified a $305M retail gap to guide future development. Hiring Reality Check: QuickBooks says summer hiring needs a faster plan, as teen job growth is expected to be weaker amid inflation and higher fuel costs. AI Use Still Needs Proof: A QuickBooks AI report finds many small firms use AI, but most struggle to measure whether it’s actually boosting results.

SBA Disaster Help: The agency will open an additional Business Recovery Center in Saipan for Super Typhoon Sinlaku impacts, with low-interest disaster loans for businesses/nonprofits and homeowners/renters and a June 22 physical-damage deadline. SBA Disaster Help: SBA also reminded Oklahoma businesses and residents of a June 30 deadline for adverse-weather disaster loans, plus Georgia wildfire and North Carolina drought relief remain available. Small-Biz Lending Rules: SBA clarified and narrowed its crackdown on small business investors, signaling more case-by-case review rather than an automatic blanket denial. Fraud & Fallout: A Texas man sentenced to 70 months for email-compromise schemes also targeted SBA loan fraud, with $2.6M restitution ordered. Local Business Pressure: New York grocers plan to fight Mayor Mamdani’s city-owned grocery stores plan, arguing they can’t compete with below-market pricing. Hiring Reality Check: QuickBooks says summer hiring needs a fast plan, while Challenger, Gray & Christmas expects teen hiring to be the weakest on record amid inflation and higher fuel costs. Payments Competition: PayPal is under pressure as rivals squeeze its online checkout business, warning investors “significant changes” are coming. Asset Protection: A new guide highlights how business owners can protect personal assets after accidents by using the right legal structure. Community & Compliance: Delaware must comply with a federal immigration-related subpoena for Department of Labor records after a Third Circuit ruling.

Immigration & Small Business: A Delaware fight over ICE/HSI subpoenas is over for now: the Third Circuit ordered the state to turn over business wage records tied to an illegal immigration probe, with AG Kathy Jennings calling it “naked racial profiling” and warning more subpoenas could follow. Labor Costs: Oklahoma Labor Commissioner Leslie Osborn is backing State Question 832, which would lift the minimum wage from $7.25 to $15 by 2029 and tie future increases to inflation. AI for SMBs: Neil Patel is joining HighLevel as a strategic partner to help small businesses close the AI gap, with co-developed AI/SEO features and SMB-focused content. Local Business Intelligence: Utah’s Summit County launched SizeUp Summit County, a free market-research tool for small businesses to benchmark competitors and customers. Tariffs & Refunds: A federal trade court ordered the CBP commissioner to appear over tariff refund handling, with importers reportedly owed $166B. Fraud Fallout: A California restaurant owner was sentenced to 41 months and ordered to repay $4.36M in fake COVID relief loan applications. Market Access: A court dismissed a lawsuit challenging DOT’s DBE program after the agency changed eligibility rules.

Disaster Relief: The SBA is reminding Hawaii businesses, private nonprofits, and residents that low-interest disaster loan applications are due June 14 for March 10–24 storm damage, with physical damage and economic injury options (plus potential mitigation increases). Disaster Relief (Mainland): SBA also announced low-interest drought EIDL availability across multiple Nebraska, Colorado, Kansas, South Dakota, and Wyoming counties, helping small businesses and private nonprofits recover from April 1 drought-related losses. Fraud Crackdown: A former Suffolk County corrections officer was ordered to repay nearly $55,000 tied to fraudulent pandemic loans and unemployment benefits, including falsified PPP applications. Local Business Support: U.S. Rep. Ryan Mackenzie launched a “Lunch with a Legislator” series, meeting Latino professionals and small business owners in Allentown to hear priorities firsthand. Small Business Confidence: A U.S. Chamber index shows small business owners still see their own businesses as healthy, but confidence in local and national economies is slipping—along with hiring and investment plans. Immigration Rules Impacting Owners: A USCIS memo signals tighter scrutiny for people seeking green cards from within the U.S., potentially forcing many applicants to complete consular processing abroad.

SBA & Disaster Relief: SBA opened a Disaster Loan Outreach Center in Brantley County, Georgia, to help wildfire victims apply for low-interest disaster loans for homes and businesses, with similar outreach centers also noted for other storm-impacted areas. Fraud Crackdowns: In Massachusetts, a Peabody man pleaded guilty to $125,000 in COVID-era EIDL fraud tied to a fake electrical contracting business; in South Carolina, five companies agreed to pay $7.9M to settle PPP loan fraud allegations. Capital Access & Lending: A new East Texas brief highlights how SBA 7(a) and 504 guarantees can bridge the capital gap for startups and small firms. AI for SMBs: Anthropic is training small businesses on Claude for Small Business with QuickBooks/HubSpot/PayPal-style integrations, while local chambers and partners roll out no-cost AI training programs like Small Business B(AI)sics. Local Growth & Development: Frisco broke ground on Firefly Park, a major mixed-use project expected to reshape the local economy. Workplace & Community: Spodak Dental Group earned a Sun Sentinel Top Workplace award for the 10th time, underscoring the value of strong small-business culture. Fair Lending: Fair housing groups sued the CFPB over changes to the ECOA fair lending rule, arguing it weakens accountability for discriminatory lending practices.

SBA Disaster Help: The SBA is adding a Business Recovery Center in Saipan for Super Typhoon Sinlaku survivors, with walk-in help and disaster-loan guidance starting June 2. Election Safeguards: California Gov. Newsom signed SB 73 to strengthen protections for voters, ballots, and election infrastructure against interference and intimidation, taking effect immediately. Federal Innovation Funding: The NSF relaunched SBIR/STTR with $250M, including a new $40M push for next-generation scientific instrumentation—non-dilutive funding aimed at early-stage deep-tech startups. Small-Business Lending Update: The SBA says borrowers can combine 7(a) and 504 loans for up to $10M starting July 4, but the change may not help most small firms. AI for Main Street: Robinhood opened its platform to AI agents for trading and a virtual credit card, while Anthropic’s “Claude for Small Business” targets finance, ops, sales, and customer service workflows. Local Business Impact: Garden Grove residents pressed officials over a GKN Aerospace hazmat incident that displaced tens of thousands, highlighting how industrial risks can hit small communities fast.

Broadband Expansion: Spectrum says it’s extending fiber service to 4,000+ additional homes and businesses in Harrison County, Indiana, aiming for symmetrical, multi-gig speeds for residents and small businesses. Fraud Crackdown: Vice President JD Vance highlighted a Medicaid caretaker fraud case where a vulnerable elderly man allegedly received no services before a last-minute reimbursement. PPP Fallout: A Fort Valley, Georgia man pleaded guilty to false statements tied to a 2021 PPP loan and faces probation plus SBA restitution. Consumer Credit Fight: Fair-lending groups sued the CFPB to block a new rule they say rolls back decades of protections and could enable discrimination. Labor & Retail: Union workers protested Apple’s Towson store closure, alleging discriminatory treatment as nearly 90 jobs are set to end. Disaster Relief: The SBA announced low-interest disaster loans for Illinois storm and tornado victims, including help for businesses, nonprofits, homeowners and renters. Small-Business Funding Spotlight: The SBA launched its $1 million Patriot Pitch Competition, with entries due June 10. Local Business & Community: Philadelphia voters approved PhillySaves, a city retirement program for workers without employer plans.

Rural Revamp in China: In Beijing’s Mentougou, villages are trying to replace coal-era income by pooling assets, hiring “village CEOs,” and turning homes, crafts, and river resources into businesses—an experiment aimed at keeping young workers and money from leaving. Camp David Politics: Trump’s Cabinet is set to meet at Camp David Wednesday to push Iran war talks, the economy, and a White House fraud task force—though bad weather could derail it. Cybersecurity Push: A new report says DNS firewall demand is accelerating as threats grow, with the market projected to surge through 2032. Small Business & Local Impact: SBA supplier matchmaking is coming to Detroit with GM, while disaster-loan deadlines and storm recovery updates keep rolling out for affected communities. Cost Pressure Stories: Tariff refunds are starting, but the fallout is still hitting consumers; meanwhile, Texas BBQ shops warn brisket prices are forcing closures.

Local Openings: Iron Wild Fitness just opened in downtown Colorado Springs, betting on a “fresh air” concept with garage-door ventilation, big windows, and flexible hours for locals, hotel guests, and workers. Workforce Watch: A new warning for employees: “layoff” claims can be followed by a similar role reposted under a different title—leaving workers to wonder if their jobs were truly eliminated. Regulatory Pressure: The DOJ is pushing harder on pandemic lending—Regions Bank is set to pay about $4.9M over alleged improper PPP loan forgiveness. Policy & Funding: A House-passed bill would expand investment support for rural, low-income, and critical tech small businesses by loosening leverage limits. Small Business Ecosystems: USDA Rural Development is accepting applications for Rural Business Development Grants, with Wisconsin deadlines of June 15 and June 30 depending on category. Compliance Risk: DoD proposed expanding FOCI requirements to more contractors, raising the odds of delays for firms that haven’t faced this scrutiny before. Fraud Case: Casino owner Andy Sanborn plans to plead guilty for misusing $250K+ in federal pandemic aid, including spending on a Porsche.