Small business lending

Congress passes two-month PPP extension

03/25/21

Lawmakers approved a bill that will allow the Paycheck Protection Program to remain open until May 31. It was originally set to expire on March 31.

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Mutuals say latest stimulus effort highlights need for capital reform

03/22/21

The depositor-owned banks are discouraged from participating in the Emergency Capital Investment Program because they can't issue preferred stock to back loans for underserved communities. It's another reason to overhaul their capital rules, mutuals argue.

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Why this banker no longer views SBA as 'lender of last resort'

03/17/21

First Internet CEO David Becker used to be dismissive of the Small Business Administration. But after getting to know some of the borrowers during the pandemic — and after his bank collected hefty fees from selling 7(a) loans — he's become a convert.

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Bill to extend PPP clears House

03/17/21

By an overwhelming majority, the House approved a two-month extension of the Paycheck Protection Program, which still has almost $93 billion left to distribute.

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U.S. small businesses are holding off the debt apocalypse. For now.

03/16/21

Government relief programs and lenders’ forbearance have kept U.S. small businesses from defaulting on their debt en masse as revenue slumped during the pandemic crisis, according to a new analysis.

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House members receptive to extending PPP deadline

03/10/21

Legislators expressed concerns that thousands of pending applications are stuck in limbo just weeks before the Small Business Administration is legally required to stop accepting them.

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Fears of a backlog as PPP deadline looms

03/09/21

Lenders are preparing scores of Paycheck Protection Program applications to secure approval from the Small Business Administration by March 31, but unresolved error codes continue to hinder their efforts.

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Pandemic has redefined role of bankers: New ICBA chair

03/08/21

“We were already shifting to recruiting more problem solvers than people handling transactions,” said Robert Fisher, CEO of Tioga State Bank in New York and incoming chairman of the Independent Community Bankers of America. “That pace of change has accelerated.”

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Fed will continue supporting PPP loans until June 30

03/08/21

Nonbanks had worried the end of the Paycheck Protection Program Liquidity Facility would hurt their ability to lend to small businesses. On Monday, the Federal Reserve announced the facility would be extended for three months.

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Lenders wary as Fed's PPP facility nears deadline

03/05/21

A big funding source for the Paycheck Protection Program is set to expire on March 31. Its demise would pinch nonbanks that are originating and buying loans, especially if Congress continues the PPP beyond this month.

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