Paycheck Protection Program

Cross River chief prepares for PPP encore


Gilles Gade, one our community bankers to watch in 2021, led an effort that made Cross River Bank one of the biggest Paycheck Protection Program participants. He is ready for his team to pick up where it left off when the new stimulus package kicks in.


New stimulus package clears path for increased SBA lending


The legislation allows the Small Business Administration to waive fees and raise the guarantee for 7(a) and 504 loans, which could encourage more small businesses to apply for loans as the economy recovers.


PPP success fuels Umpqua’s commercial lending ambitions


The Oregon bank has launched a new division targeting businesses with up to $15 million in annual sales and tapped the banker who led its Paycheck Protection Program lending, Ashley Hayslip, to run it.


What bankers (mostly) like about rebooted PPP


At least two items on the industry's Paycheck Protection Program wish list were delivered: provisions allowing many existing borrowers to obtain new funding and streamlined forgiveness for loans of $150,000 or less.


CUNA Mutual, Inclusiv team up to boost CDFI certification


The two groups have launched a new effort to promote the benefits of being certified as a community development financial institution.


PPP left many small businesses behind. Next stimulus cannot do the same.


Lawmakers need to create a coronavirus relief program targeting owners of smaller businesses facing more hardship than larger competitors that received much of the aid from the Paycheck Protection Program.


New CBA chair's wish list for the Biden administration


It includes simpler Paycheck Protection Program forgiveness and a consistent approach from federal regulators to reforming the Community Reinvestment Act, says Bank of America's Christine Channels, who chairs the Consumer Bankers Association's board.


Fed move on lending facility gives PPP secondary market a boost


Buyers say the Federal Reserve's decision to extend the life of a crucial lending facility another 90 days makes it possible for them acquire more PPP loans


Large credit unions deepen their stake in PPP lending


New analysis from S&P shows credit unions near $1 billion of assets and above continuing to dominate the industry's performance in the Paycheck Protection Program as some CUs dedicate a substantial portion of their portfolios to the effort.


Small businesses poised to hunker down in 2021: Bank of America survey


Though there is some optimism about an economic recovery, two-thirds of respondents said they expect revenue to be flat of down next year and just 13% plan to be in hiring mode.