News Topic: SBA

The Small Business Administration's last-minute plan to temporarily block larger banks from the relief loan program is another example of the agency changing the rules midstream, critics said. ... Read full article

Treasury secretary says big firms that took PPP loans should apologize, not just return the money; German fintech’s shares drop 26% as audit fails to rebut accounting fraud allegations. ... Read full article

The Small Business Administration has processed more than 476,000 applications from struggling small-business owners, but lenders say access to the second round of the Paycheck Protection Program has been spotty. ... Read full article

Elected officials are better off deciding who’s most deserving of federally backed coronavirus relief funds for small businesses. ... Read full article

Portal crashes, technology glitches, last-minute changes in guidance, renewed suspicions about loan dispersal: Meet the new Paycheck Protection Program, same as the old Paycheck Protection Program. ... Read full article

The bank told customers that it wasn't accepting new applications for the rescue loans because it was trying to work through a backlog of requests already in its pipeline. ... Read full article

Queued-up loans. Extra bankers. Government tweaks to promote fairness. None of these precautionary measures has been enough for the second round of the Paycheck Protection Program to avoid the pitfalls of the first. ... Read full article

Community banks that have used the Paycheck Protection Program to help businesses ride out the coronavirus outbreak are looking to turn that goodwill into deeper loan and deposit relationships down the road. ... Read full article

As banks accept new applications for the paycheck program, they are dogged by complaints that they prioritized wealthy borrowers. But lenders likely fast-tracked clients they knew best under difficult circumstances, observers say. ... Read full article

The Small Business Administration's systems froze up shortly after the latest Paycheck Protection Program was launched Monday morning. ... Read full article

The billionaire investor and entrepreneur sees problems with small businesses having to apply for loans to get coronavirus relief. He says a more efficient approach would be to let them run negative balances on their bank accounts. ... Read full article

Lenders are being urged to prepare applications for the latest version of the Paycheck Protection Program. ... Read full article

Lenders are set to flood the SBA with new PPP applications; long nights and weekends the new normal; Fifth Third rethinks new-branch designs in light of coronavirus; and more from this week's most-read stories. ... Read full article

The policy move will allow small institutions participating in the Paycheck Protection Program to pledge business loans as collateral to obtain advances. ... Read full article

Lawmakers should approve a program to distribute stimulus funds using a government-sanctioned coin, which would be speedier than the current system. ... Read full article

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. ... Read full article

The program, created in response to the 2008 financial crisis, generated $19 billion in small-business loans. It could be used as a viable path out of the coronavirus pandemic. ... Read full article

Small-business owners applying for Economic Injury Disaster Loans could see another applicant's information if they hit the back button. ... Read full article