Small business lending

One-fifth of emergency loan program's funds already committed

04/07/20

The Small Business Administration said lenders approved $71 billion in loans from the Paycheck Protection Program in less than five days.

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Trump praises banks for expanding assistance to small businesses

04/07/20

President Trump on Tuesday praised some of the country's largest financial firms for pledging to take new steps to help small businesses disrupted by the coronavirus.

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SBA computers crash in fresh blow to companies seeking virus aid

04/07/20

The Small Business Administration’s loan processing platform went down Monday for as long as four hours, temporarily halting the ability of lenders to process loans for small business owners seeking relief from the impact of the coronavirus.

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Treasury asking Congress for another $250B to help small businesses

04/07/20

Soaring demand for loans from firms hard hit by the coronavirus pandemic has led to predictions that the program could soon run out of funds.

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How small banks can help small companies get through coronavirus

04/07/20

The government should encourage community lenders to offer six-month loan repayment forbearances to struggling businesses before it’s too late.

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Fifth Third ramps up hiring to speed efforts to help customers

04/07/20

The Cincinnati company will hire about 950 workers to meet heightened demand for loan deferrals and other forms of relief clients are seeking to weather the economic fallout of the coronavirus outbreak.

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Fed may give Wells breathing room; Dimon says not yet to dividend halt

04/07/20

Parties talking about a temporary lift of Wells' asset cap; GDP would have to drop an “unlikely” 35% in Q2 before JPMorgan would be forced to stop payouts.

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Emergency loan program forces bankers to make hard choices

04/06/20

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.

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Banks find creative ways to help cash-strapped health clinics

04/06/20

For many small providers, the coronavirus pandemic means falling revenue and rising expenses, as many either shut their doors to new business or staff up to deal with COVID-19 patients. Bankers say that means helping them bridge the cash-flow gaps until they can get back to business as usual.

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Fed will buy small-business loans to help coronavirus response

04/06/20

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

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