Paycheck Protection Program

PPP forgiveness volume tops $100 billion: SBA


The pace of forgiveness for Paycheck Protection Program loans is expected to accelerate when the Small Business Administration issues guidance on additional steps meant to streamline the process.


SBA expanding PPP to small banks on Friday


The Small Business Administration will allow lenders with less than $1 billion of assets to process applications in two days. The portal will open to all lenders on Tuesday.


Will PPP's uneven soft launch delay full rollout?


Several community banks said they didn't have enough time to review the Paycheck Protection Program's application forms, forcing them to sit out Monday's reopening. The SBA is not saying when more lenders will be allowed to access its portal.


Uncertainty looms over PPP's relaunch


Bankers have several unanswered questions about the Paycheck Protection Program before it reopens to select lenders on Monday. Among them: When will forms be available, and which portal will the Small Business Administration use?


More incentives for smaller lenders in next PPP round


Community banks will have access to allocated funds and at least two days of exclusive portal access when the Small Business Administration relaunches the Paycheck Protection Program.


IRS blesses tax breaks on forgiven PPP loans after law change


The Internal Revenue Service will allow businesses that got their Paycheck Protection Program loans forgiven to write off expenses paid for with that money, shifting policy after Congress passed new legislation last month.


Lenders to small landlords brace for credit losses


The recent stimulus law’s relief for renters and extension of the federal eviction ban were meant to ward off a housing crisis. But owners of 1- to 4-unit dwellings still face mounting mortgage and property tax debts, and delinquencies could start rising soon — followed by foreclosures.


The Reauthorization and Revival of the Paycheck Protection Program and Economic Injury Disaster Loan Program under the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act


On December 27, 2020, President Donald Trump signed into law the Consolidated Appropriations Act, 2021 (the 2021 Consolidated Appropriations Act), an omnibus statute that is comprised of, among other laws, twelve fiscal year 2021 appropriations bills for the federal government and an economic aid package to assist business concerns that continue to face hardships due to the COIVD-19 pandemic.  Title III of the 2021 Consolidated Appropriations Act, which is cited as


Tall order for startup's leader: Keeping PPP borrowers in fold


Triad Business Bank opened in North Carolina shortly before the launch of the Paycheck Protection Program, which brought in many clients. CEO Ramsey Hamadi, one of our community bankers to watch in 2021, will have to work hard to retain them after their loans are forgiven.


Stimulus law may put disputes over PPP agent fees to rest for banks


The new legislation includes a provision sparing lenders from having to pay such fees on Paycheck Protection Program loans, except in cases where they agree in advance with borrower representatives to do so.