Members of the Small Business Committee signaled backing for broadening Paycheck Protection Program access for the smallest companies, encouraging participation by nonbank lenders and other improvements. ... Read full article
Accountants, as well as lawyers and consultants, who helped small businesses apply for emergency relief funds through the Paycheck Protection Program want to be compensated. Are they entitled to be? ... Read full article
Activity in the Paycheck Protection Program has slowed in recent weeks, but Customers Bancorp and Fountainhead Capital continue to pursue loans aggressively in hopes of developing long-term borrower relationships. ... Read full article
Bankers said legislative fixes to the small-business rescue program should help more borrowers secure loan forgiveness, though new demand will likely remain tepid because the process is still extremely cumbersome. ... Read full article
Two years ago, the Tulsa, Okla., bank expanded its Native American casino lending business nationwide. It seemed like a great plan until the coronavirus pandemic struck. ... Read full article
The SBA issues guidance on Paycheck Protection Program loan forgiveness; after staffing up for PPP, Bank of America may need to delay investments to meet cost targets; American Express has leaned hard on cloud tech to help employees work at home during the ... Read full article
The pair created a website that will help borrowers in the Paycheck Protection Program apply for loan forgiveness. ... Read full article
The measure, which garnered near-unanimous support, would triple the period during which businesses can spend their coronavirus relief funds and make it easier for loans to be forgiven. ... Read full article
The funds include $3.2 billion in loans that community development financial institutions had already approved during the PPP's second phase. ... Read full article
The new Paycheck Protection Program rules, which created a review process and timeline for paying lenders, did not extend the time borrowers have to comply or increase how much money can be spent nonpayroll expenses. ... Read full article
The SBA and Treasury Department release more guidance on PPP loan forgiveness; Santander Consumer reaches $550M settlement with state AGs; how Wells Fargo's tech chief is managing coronavirus response; and more from this week's most-read stories. ... Read full article
Companies that received funding from the Paycheck Protection Program in early April can start to submit forgiveness applications at the end of May. ... Read full article
A Manhattan man was charged by federal prosecutors with fraudulently trying to obtain more than $20 million in government loans intended to aid small businesses affected by the coronavirus pandemic. ... Read full article
Jennifer Roberts, the company's head of business banking, details a process to have units work one-on-one with customers to get Paycheck Protection Program funds deployed faster. ... Read full article
The sellers will continue to service the loans and retain the fees they receive from the Small Business Administration. ... Read full article
On May 15, 2020, the U.S. Department of Treasury ( Treasury ) and U.S. ... Read full article
A small Texas company that profits from loan applications is using a web address so similar to the Trump administration's portal for small businesses that even Treasury Secretary Steven Mnuchin pitched the wrong one when outlining a pandemic-aid ... Read full article
Triad Business Bank in North Carolina, which opened in March, has made $106 million in Paycheck Protection loans. ... Read full article
The agencies produced an application process that includes favorable interpretation of qualifying expenses. ... Read full article
On May 13, 2020, the U.S. Department of Treasury ( Treasury ) and U.S. ... Read full article
