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

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Transcript

Intro: This sh*t ain't trending… but it matters

Stoy 0:00

What's up y'all? Welcome back to Let's Get Real, where we cut through the noise and talk about what's really messing with your money, your mindset, and your mission today. Diving into some sneaky ass stories you probably didn't hear about in your morning scrolling. They weren't really trendy, but I think that you need to know about them. First one is how SBA loans have gotten harder, and next is Cincinnati. Uh, fed Summit decided to do something useful for ones for their communities and then obviously the geopolitical chain reaction crap that's been going on, um, all over the place. But let's drive right into this BLO. So most of you know I'm talking to 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 score requirements, heavier documentation, fewer pre-approvals like they used to have, and more scrutiny on how you're spending the money. Doesn't sound very good, does it? Well, typically what we would have is SBA. Those that need SBA would go ahead and get approved. Usually anything under 500,000 would go. Relatively quickly. They've done that down to 350,000. They've also added where you have to have$50,000 worth of insurance on it. So things just got harder to get through, 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's wanting to launch clinics, build stores, grow their, their businesses. So if you can't get access to capital, or it's harder to get to, there are other ways around this, right? You can get some, um, FinTech stuff, alternative loans, bootstrapping. Those are all ways that you're able to get into it. So, lock in, look at some of the credit lines that are available to you and just know that it's gonna be harder, uh, to get the SBA. My favorite story from the week is the Cleveland Fed. They decided to host a summit, what's called Building Strong and Sustainable Communities. Building Strong and Sustainable Communities. I know to you guys that sounds like a snooze fest, but to me, uh, I love to dive into,'cause what it's doing is expanding on local lending. It's launching new financial literacy programs for schools. Those that know me understand that I love the financial literacy aspect, which is gonna bring more credit access to underbanked and minority communities. This is. Huge everybody, because think about it. When you were a kid, did you know about your budget? Uh, what about when you got your first credit card? Or maybe did you even know what a loan is? Nah. Now of course you didn't. There was no way for you to know that, and therefore compounding interest was working against you. So I think this is a fantastic movement. I hope to see more of it. Um, but I asked you this question, have you seen that in your communities? Maybe you should look out to your local branch and ask what programs and grants are available. For you, just like the Cincinnati Fed is doing, and then shit just keeps on happening. Doesn't that, um, according to the, the Guardian, uh, they just dropped a deep dive into the chain reaction. I. Uh, of what's going on from the tensions between us, Iran, nato, Russia, Ukraine. We're really getting to the boiling point, is what they're saying. We got strikes, cyber attacks that most of us don't really know about, um, proxy battles, which we do know about, and it's all affecting us in our pocketbooks, right? When you look at the geopolitical conflict, it's gonna escalate and your money's gonna move. I, I had spoken to this earlier this week, is look at. Where the money goes and what happens to the money. Okay. Right now we're not seeing much movement. We're, we're not seeing anything happen that correlates to what is going on out there. So that tells me that the markets aren't ready or not seeing that something certain is happening. However, it feels like we're really on the cusp. We've got the Fed not really wanting to move on interest rates yet, and gonna wait until the end of the summer. Which is fair. Gotta see where we're going. Tariffs, we still got those going on. We're getting close to that 90 day pause. What's gonna happen from that? And we're already seeing the tariffs affect our economy when it comes to inflation. Uh, unemployment's gonna go down, so something's gonna have to happen, right? And if we think through it, what happens in war? Oil press spike. Guess what happens are gas tanks? Well, right now we're seeing the opposite. So think about that. Supply chains, those are gonna be big issues with the, with overall and the tariffs. But ultimately, if you feel that pain, don't pull your investments out per se, but maybe move some of'em to a, a safeguard. But at the end of the day, we know 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 freak out and get out. Some are gonna get more in and we'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 know it's there. Just, just breathe a little bit. Stay invested, be diversified as much as you can. So overall, from this week, we've seen SBA loans tightening, so let's make sure we're prepping our capital early. If you need it, maybe move. Sooner than you think. We've seen the Cleveland Fed making some silent, quiet little moves in their community. When we're talking about resources, when it comes to financial literacy and financial planning, I'm all about that. Uh, and obviously global tensions keep rising. Uh, but don't let that fear run your personal finances, okay? Again, don't sleep on these small stories. I'm bringing them to you so you can hear'em, so you get all the other noise out of your mind. Right? We've got enough shit going on with. You know, our president cussing and all the shit that's going on in this world. I'm gonna bring you stories maybe that you haven't heard, and maybe provide some of that clarity to you. So if it, if it helps, lemme know 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.