SBA

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.

[more]

Prioritize community banks in next small-business rescue plan

04/21/20

Small banks are a lifeline for many local businesses and should be given first crack at distributing funds from a continuation of the federal stimulus program.

[more]

New coronavirus funding stalls; mortgage lenders pressure Mnuchin

04/17/20

Partisan differences get in the way of new aid program for small businesses as SBA program runs out of money; loan servicers want a bailout as defaults expected.

[more]

Hundreds of thousands of emergency small-business loan applications in limbo

04/16/20

The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.

[more]

Dear Congress: Don’t let initial PPP be final word on small-business aid

04/15/20

The SBA’s Paycheck Protection Program is nearly depleted, but there are ways small banks and fintechs, with help from Congress, can remedy the situation.

[more]

Fintechs help banks manage deluge of emergency small-business loans

04/14/20

Online lenders, core providers and software companies have created digital platforms that speed up and simplify Paycheck Protection Program loans for businesses reeling from the coronavirus pandemic.

[more]

Wells Fargo tells business clients to consider other banks for emergency loans

04/13/20

Just days after the Fed lifted Wells Fargo's asset cap so it could make more Paycheck Protection Program loans, it warned customers its queue is long and they may want to go elsewhere before program funds are exhausted.

[more]

SBA’s Amazon-assisted save, W.Va. bank failure, BofA’s selective lending: Top stories of the week

04/10/20

After opening-day fiasco, SBA upgrades lender portal with Amazon assist; West Virginia’s First State Bank closed by regulators; BofA offers emergency loans to borrowers first, freezing out depositors; and more from this week’s most-read stories.

[more]

5 more moves the Fed is making to prop up the economy

04/09/20

Midsize businesses and state and local governments are among the beneficiaries of the central bank's latest $2 trillion effort to mitigate the economic damage caused by the coronavirus pandemic.

[more]