Paycheck Protection Program

Lenders set to flood SBA with new PPP applications

04/22/20

A backlog has formed since the first round of Paycheck Protection Program funding dried up, threatening to further strain a platform that struggled to handle the initial workload.

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Senate passes PPP 2.0; JPMorgan hashing out return-to-work plan

04/22/20

The bill, which includes $310 billion in new funding, is expected to pass the House on Thursday; Chase has no timeline for returning but plans to bring back employees to offices in stages.

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Senate directs PPP aid to small banks in new funding measure

04/21/20

The House is expected to vote later this week on the bill expanding emergency relief for small businesses reeling from the effects of the coronavirus.

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Funneling PPP money to the smallest businesses: A fintech exec's plan

04/21/20

John Pitts, policy lead for Plaid, has some ideas to ensure Paycheck Protection Program legislation set to be voted on this week targets the companies most in need of a cash infusion.

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PPP reload nearing; Treasury eyes blocking stimulus check garnishment

04/21/20

The administration and Congress are said to be close to adding $310 billion to the small business loan program; the department is looking at whether it can prevent banks from seizing government checks.

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Wells Fargo, JPMorgan among banks sued over aid to small businesses

04/20/20

Bank of America and U.S. Bancorp were also named in a lawsuit filed in Sunday in which the banks are accused of prioritizing large loans distributed through the Paycheck Protection Program in order to maximize fees.

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Small banks could get big break in emergency loan program's next round

04/20/20

Lawmakers are considering a plan to reserve at least $50 billion in Paycheck Protection Program funds for customers of community banks and small regionals.

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Computational Framework for Determining Number of Employees for Eligibility, Qualifying Loan Amount and Forgiveness for a PPP Loan

04/20/20

The Paycheck Protection Program (“PPP”), as enacted under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, provides federally-guaranteed loans up to a maximum amount of $10 million to qualified businesses, which can be fully forgivable, to encourage businesses to retain employees through the COVID-19 crisis by assisting in the payment of certain operational costs.

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Relief efforts favor households, businesses with deep ties to banks

04/20/20

From stimulus checks to the Paycheck Protection Program, the government’s infusion of cash into an economy reeling from the coronavirus pandemic has primarily helped those who already strong banking relationships.

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White House, Democrats close in on PPP deal; are small fries getting edged out?

04/20/20

The two sides say a deal to replenish the small business loan program may be reached for a Senate vote early this week; big restaurant chains said to edge out small firms for loans.

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