News Topic: SBA

On April 3, 2020, the U.S. Department of the Treasury ( Treasury ) and U.S. ... Read full article

Lenders must balance the financial risk of extending credit without explicit backing from the Small Business Administration against the reputational risk of delaying aid for needy borrowers. ... Read full article

The central bank is creating a facility to provide financing to banks participating in the Small Business Administration’s Paycheck Protection Program. ... Read full article

Wells Fargo said it can't fully meet demand from small businesses rushing to participate in a U.S. relief program because of constraints imposed by the Federal Reserve on the bank's growth. ... Read full article

Sen. Marco Rubio, R-Fla., said that $349 billion will likely not be enough meet loan demand from small businesses seeking a lifeline to help them weather the economic downturn brought on by the coronavirus outbreak. ... Read full article

Banks, under pressure to act hastily, began taking applications for government aid to small businesses hit hard by the coronavirus outbreak. But narrow eligibility rules at some banks angered business owners and lawmakers. ... Read full article

Emergency loan program plagued by chaos on eve of launch; why Moven, one of the first challenger banks, is calling it quits; Fed faces conundrum on whether to remove Wells Fargo's asset cap; and more from this week's most-read stories. ... Read full article

While the federal government is touting the early success of the Paycheck Protection Program, community banks are complaining about headaches and glitches. ... Read full article

Yes, the Small Business Administration's emergency funding program for the coronavirus crisis is off to a rocky start, but that shouldn't stop banks from helping customers in need. ... Read full article

The decision sparked outrage from small-business owners who have checking accounts with the bank but not loans or business credit cards. Bank of America started taking applications Friday for a $349 billion program that's intended to offer aid to ... Read full article

Many bankers find crucial parts of the SBA effort to help businesses hurt by the coronavirus outbreak to be unclear and onerous. If those issues go unresolved, participation could suffer. ... Read full article

The pandemic may force the Small Business Administration to rely more on fintechs and digital channels to hasten loan approvals, a shift that could stick. ... Read full article

Lenders and government guarantors can use loan technology to bring immediate relief to business owners, former OCC official Jo Ann Barefoot says. ... Read full article

SBA loans could pour billions into bank coffers; Fed bailed out government-backed market, others may suffer. ... Read full article

The Treasury Department and Small Business Administration are responsible for distributing $350 billion in coming months. ... Read full article

What banks need to know about the coronavirus stimulus package; tech vendor Finastra hit with ransomware attack; bank CIOs confront challenge of so many employees working at home; and more from this week's most-read stories. ... Read full article

Online lenders can help the agency distribute loans faster as it gets set to deploy emergency funding to small businesses. ... Read full article

No online lenders are approved for the agency's traditional programs, but they could make loans under the coronavirus stimulus package if they get special approval. ... Read full article