Bankruptcy Blogs

The lawmakers cited concerns from small businesses that the current application to have coronavirus relief loans forgiven is “especially burdensome, time-consuming, and costly.”

Uwharrie Capital in North Carolina and Valley National in New York used their community connections to seek out small companies in need of loans from the Paycheck Protection Program. They found plenty of them.

Payments processors are keeping a portion of payments as a reserve against potential disputes between cardholders and merchants. Small-business owners say the practice is eating into their profits.

Financials drop 8.2% on prediction of low rates through 2022 and dim economic outlook; the largest mortgage originator and a top challenger to traditional lenders has filed what may end up being the year's largest initial public offering.

On June 8, 2020, the Federal Reserve Bank of Boston, the administrator of the Federal Reserve’s Main Street Lending Program, released updated term sheets for the three types of loans, “New,” “Priority” and “Expanded,” that will be available under Main Street as well as an updated extensive Frequently Asked Questions (FAQ) (https://www.federalreserve.gov/monetarypolicy/mainstreetlending.htm).