Small business lending

Treasury, SBA to disclose identities of large PPP borrowers

06/19/20

The agencies said late Friday that they will provide information on small businesses that received $150,000 or more from the Paycheck Protection Program.

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Lenders, lawmakers push for PPP extension despite tepid demand

06/19/20

Activity in the Paycheck Protection Program has waned, but some argue that many small businesses, especially those owned by minorities, will miss out if the June 30 application deadline isn't extended.

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Why bankers remain unsold on Fed's Main Street program

06/19/20

Worried about a lack of demand and that some of their customers are ineligible, community banks are still on the fence about participating in the effort to back loans for businesses recovering from the pandemic crisis.

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Fannie, Freddie hire advisers to help raise capital; Deutsche leads the pack

06/16/20

Fannie Mae has chosen Morgan Stanley while Freddie Mac is going with JPMorgan Chase; the bank’s overhaul plan has helped make it the best performing big-bank stock so far this year.

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House Democrats call for more transparency in allocation of PPP funds

06/15/20

In letters to administration officials and large banks, the lawmakers sought details about loan recipients following reports that financial institutions had favored their wealthiest clients.

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Fed invites lenders to sign up for Main Street Lending Program

06/15/20

Financial institutions interested in participating “are encouraged to begin making ... loans immediately,” the central bank said.

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Senate Democrats seek simpler loan forgiveness process for PPP

06/12/20

The lawmakers cited concerns from small businesses that the current application to have coronavirus relief loans forgiven is “especially burdensome, time-consuming, and costly.”

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Going the extra mile to help minority-owned businesses weather pandemic

06/12/20

Uwharrie Capital in North Carolina and Valley National in New York used their community connections to seek out small companies in need of loans from the Paycheck Protection Program. They found plenty of them.

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California tables ‘mini-CFPB’ idea — for now

06/11/20

A budget item establishing a new agency to protect consumers from predatory lenders has been put on hold as state officials deal with the coronavirus response and other priorities. But it could be revived in legislative talks later this summer.

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Delay of Fed’s Main Street program hasn't hurt businesses, Powell says

06/10/20

The central bank is only now nearing the launch of the credit facilities after the effort was announced in April. But Chairman Jerome Powell said loans have been available through other means.

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