Small business lending

Banks urged to foster rise of minority-owned businesses

06/05/20

Lenders have a role to play in the national reconciliation that must follow the recent racial unrest — providing greater access to capital for African Americans and other underserved groups so they can build wealth, activists said at a panel discussion hosted by Berkshire Bank in Boston.

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U.S. Bancorp pledges $116 million to address racial inequality

06/05/20

As part of its commitment, the Minneapolis company said it will provide $100 million in capital to African American owned and operated businesses and organizations.

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After PPP reform, more flexibility but same complexity

06/05/20

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.

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Lenders, businesses say confusing rules hampered virus rescue

06/04/20

Representatives of lenders as well as businesses that received pandemic bailout money told an oversight board Wednesday that delayed and confusing instructions from the government hampered the effectiveness of the main rescue program for smaller companies.

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Senate passes changes to small business PPP loan program

06/03/20

The bill, which passed the House last week on a 471-1 vote, now heads to President Trump’s desk for his signature.

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Big banks call for blanket forgiveness of PPP loans under $150,000

06/02/20

The changes being sought would benefit both small businesses and banks, which would avoid the cost of servicing many low-yielding loans.

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Swept up in civic unrest, banks confront deep societal issues

06/01/20

Bankers spent Monday cleaning up damaged branches, wondering if their small-business clients will need more emergency aid and contemplating how the racial and economic inequalities highlighted by days of violent protests nationwide can be corrected.

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Banks have a mountain of deposits, so they don’t need PPP funding

06/01/20

The Federal Reserve set up a liquidity facility to help banks meet demand for emergency small-business loans through the Paycheck Protection Program, but it's gone largely unused.

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SBA looks to CDFIs in PPP lending; U.K. banks worried about ‘PR disaster’

06/01/20

The agency is trying to get small lenders to help underserved businesses get the loans; although the British government is guaranteeing small business loans, banks are required to collect on delinquents.

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The reasons some banks have a hard stop on PPP lending

05/29/20

Many lenders are paying close attention to liquidity and capital ratios. Others are trying to avoid overtaxing employees who process, service and handle forgiveness of the loans.

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