Small business lending

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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Mark Cuban, banker Jill Castilla create site to streamline PPP

05/28/20

The pair created a website that will help borrowers in the Paycheck Protection Program apply for loan forgiveness.

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Fed takes big step toward launch of Main Street Lending Program

05/28/20

The Federal Reserve Bank of Boston published details on the terms for lenders and borrowers to participate in the facility intended to provide coronavirus relief funds to middle-market firms.

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House passes bill giving firms more time to use PPP loans

05/28/20

The measure, which garnered near-unanimous support, would triple the period during which businesses can spend their coronavirus relief funds and make it easier for loans to be forgiven.

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BofA looks to rein in costs after staffing up for PPP

05/27/20

Expenses soared in the rush to deploy emergency loans to small businesses, and now Bank of America may need to delay some investments if it hopes to meet cost targets, CEO Brian Moynihan said

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Pot banking rules grow hazier during pandemic

05/27/20

Bankers have become more uncertain about how to serve marijuana businesses owing to confusion about which states deem them essential.

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Fed's Rosengren sees Main Street loans within next two weeks

05/24/20

Federal Reserve Bank of Boston President Eric Rosengren said he expects companies to begin receiving money through the central bank's long-awaited Main Street Lending Program within two weeks.

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