News Topic: Commercial lending

The lenders are bracing for spikes in delinquencies or defaults on loans to a sector heavily punished by social distancing measures. ... Read full article

Some bankers, economists, policy experts and even Mark Cuban say that creative uses of overdraft programs could be lifelines for consumers and businesses whose finances have been upended by the coronavirus crisis. ... Read full article

The two lenders are being more aggressive than other European banks in putting a price on the economic devastation caused by the coronavirus outbreak. ... Read full article

Queued-up loans. Extra bankers. Government tweaks to promote fairness. None of these precautionary measures has been enough for the second round of the Paycheck Protection Program to avoid the pitfalls of the first. ... Read full article

More details have emerged about the damage the coronavirus pandemic is inflicting on the hospitality industry. One servicer alone has received 2,000 workout requests in the past month. ... Read full article

Banks would have drowned if lawmakers hadn't delayed the new accounting standard during the coronavirus pandemic. ... Read full article

The Federal Reserve’s Main Street Lending Program is meant to be a lifeline for midsize businesses, but two weeks after its unveiling, those firms and their lenders remain on edge about what strings will be attached. ... Read full article

Rather than selling off assets at a steep discount, the Dallas company is considering taking equity positions in energy firms struggling to make loan payments in the wake of collapsing prices. ... Read full article

Legislation announced Wednesday would allow credit unions to make coronavirus relief loans to businesses without fear of bumping up against the member business lending cap. ... Read full article

The biggest lenders seem to have handled the corporate rush for cash heading into the economic shutdown caused by the coronavirus pandemic. But their ability to collect is as uncertain as the economic outlook for the next year. ... Read full article

Net income fell 46% in the first quarter as the company added nearly $5 billion to its loss reserves in anticipation of a wave of loan defaults. ... Read full article

With the coronavirus pandemic bringing economic activity to a virtual standstill, BofA, like Wells Fargo and JPMorgan Chase, is shoring up its reserves to brace for a likely recession. ... Read full article

Its prediction that business conditions will remain weak this year — and into next year — stands in stark contrast to forecasts from political leaders that the economy will rebound quickly from the coronavirus pandemic. ... Read full article

Though hopeful for a second-half bounceback in the economy, JPMorgan Chase is prepared for 20% unemployment, lackluster GDP and losses in its loan portfolio that could reach tens of billions of dollars. ... Read full article

The nation's largest bank set aside nearly $8.3 billion for bad loans, more than double what some analysts had expected. ... Read full article

The results preview a tough first year for new CEO Charlie Scharf as the coronavirus pandemic brings the U.S. economy to a standstill. ... Read full article

PayPal, Intuit QuickBooks Capital and Square Capital have been named direct lenders in the Paycheck Protection Program, and more await the OK. They could be crucial to reaching the smallest firms trying to survive the economic toll of the coronavirus ... Read full article

By helping borrowers now, banks hope customers can quickly catch up on payments once the coronavirus pandemic ends. If they can’t, interest income will remain low and charge-offs could pile up if the crisis drags on. ... Read full article