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Loans
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1.1KAbout 1M Homeowners Could Face Foreclosure
Approximately one million homeowners are at risk of losing their homes through foreclosure despite the safety net established by Congress at the...
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1.7KUber Looks To Refinance $500M At 7.5 Pct Interest Rate As Debt Load Surges
Uber Technologies is taking advantage of rock-bottom pandemic interest rates to refinance some debt. The San Francisco-based ride-hailing service on Monday (Sept....
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2.0KWill US Homeowners Manage To Avoid Falling Off A Mortgage Forbearance Cliff?
When Congress first passed the CARES Act earlier this year to ameliorate COVID-19’s economic havoc, U.S. homeowners with mortgages on their properties...
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2.5KBillions Lent For Main Street SMBs – But Cash Flow Crunch Is Stubborn
Billions of dollars in dry powder for Main Street SMB lending – and relatively few takers. But the cash crunch continues. To...
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2.4KJPMC CEO: Some Employees Have 'Fallen Short' As Bank Investigates Stimulus Violations
JPMorgan Chase employees returned to work following the Labor Day weekend Tuesday (Sept. 8) to discover a company email accusing some of...
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1.3KUS House Oversight Panel Reports $1B In PPP Loan Violations
A congressional investigation found more than $1 billion in Paycheck Protection Program (PPP) funds went to small businesses that received multiple loans, a violation...
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2.1KChina’s Banks Lost Billions In Defaulted Loans, Set Aside Cash For More
Five of China’s largest state-owned lenders reported their biggest profit losses in at least a decade, as the number of defaulted loans has skyrocketed...
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2.7KSBA Eyes Fees Paid To Rocket Loans, Contractor In Loan Program
The U.S. government's Economic Injury Disaster Loan (EIDL) program, plagued by delays and fraud, has created attention for a firm that netted...
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2.2KLenders Ask Homebuyers To Certify They Won't Seek Forbearance
Mortgage lenders, seeking to keep losses low, are asking homebuyers if they plan to seek forbearance due to the current economic crisis,...
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3.2KQ2 Mortgage Delinquency Rate Highest In 9 Years
Mortgage loans saw delinquency rates spiking in the second quarter of the year as the pandemic continued, according to a press release...
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1.5KOnline Loans Confound Experts With Lower-Than-Expected Impairments
Personal, unsecured loans issued through online lenders like Best Egg, LendingClub and Upstart have long been seen as particularly vulnerable in a...
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4.4KCiti Wants Revlon Lenders To Return $900M Paid In Error
Citigroup Inc. paid nearly $900 million by mistake to Revlon Inc. lenders due to a clerical error and wants its money back,...
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2.5KChina's P2P Lending Crackdown Leaves $115B In Losses
China’s peer-to-peer (P2P) lending sector, once 6,000 businesses strong, has been reduced to fewer than three dozen as the government tightened regulations, leaving...
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4.0KSquare's Cash App Tests Small-Dollar, Short-Term Loans
Cash App, Square Inc.’s mobile payment app, has launched a pilot program to offer short-term loans of up to $200, TechCrunch reported....
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2.0KBanks Brace For Wave Of Corporate Credit Calamities
Before the deluge – of possible bankruptcies, that is – come the provisions. Earnings season has shed light on the actions banks...
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2.7K$765M Eastman Kodak Loan Put On Hold Until 'Allegations Are Cleared'
A $765 million loan agreement between Eastman Kodak and the government to provide pharmaceutical ingredients has been put on hold due to...
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3.4KHouse Democrats Eye Kodak's $765M US Loan
The meteoric rise, and then fall, of Eastman Kodak stock — and the recent profits scored by top executives there — is...
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2.0KBanks Toughen Lending Requirements For Consumers, Businesses
Banks are increasing their standards for loans to businesses and households, according to the Fed’s latest Senior Loan Officer Opinion Survey on Bank...
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2.0KSEC Probes Timing Of Eastman Kodak’s Announcement Of $765M Loan
Eastman Kodak’s surprise announcement of plans to reinvent itself as a drug manufacturer has run afoul of the U.S. Securities and Exchange...
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8.4KRubio: Revamped PPP, SMB Loan Programs Aim To Smooth Out 'Uneven Recovery'
Senator Marco Rubio of Florida, who spearheaded the landmark Paycheck Protection Program (PPP) to help small businesses survive the coronavirus pandemic, now...
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3.0KUS Lawmakers Aim To Fix PPP Loophole That Could Cost SMBs Billions
Lawmakers want to fix a mix-up in the economic relief CARES Act laws from March that could cost small businesses $120 billion...
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2.7KSenators Want New PPP Program With Different Guidelines
It’s looking increasingly likely that Congress will vote on a new round of COVID-19 stimulus funding, with the Paycheck Protection Program (PPP)...
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2.8KKenya's Central Bank Seeks To Govern Digital Lending Interest Rates
The central bank of Kenya is putting forward new legislation to govern interest rates charged for digital lenders’ loans. Online lenders will...
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1.7KFed Relaxes Requirements For Nonprofits To Borrow From Main Street Lending Program
It will now be a lot easier for schools, hospitals and social service organizations to access funds using the Main Street Lending...
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2.5KMnuchin: PPP 2.0 Should Target Businesses With Greatest Need
Another phase of the Paycheck Protection Program (PPP) should be more focused and should provide loans on a “more targeted” basis to...
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3.3KEU Banks Face Massive Losses On Exiting Wirecard Loans
The troubles afflicting Wirecard AG are not limited to the German payment processing company. Some European lenders say they expect to recover as...
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7.7KSBA: EIDL Emergency Grant Program Runs Out Of Money
A $20 billion federal initiative to provide emergency funding to small businesses is out of cash. The U.S. Small Business Administration (SBA)...
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2.9KFights Over Loan Terms Delayed Main Street Lending Program
More than three months ago, the U.S. Department of the Treasury and the Federal Reserve gave hope to small- to medium-sized businesses...
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4.3KFed Releases Main Street Program Lender List
The Federal Reserve Bank of Boston issued a state-by-state listing of lenders accepting applications from new business customers for the Main Street Lending...
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3.5KMortgage Applications Skyrocket 33 Pct As Housing Market Rebounds
Homebuyer mortgage applications surged as June turned into July, in yet another sign of the housing market’s surprisingly strong rebound after the...
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2.1K$132B Still Available From PPP, Including $30B That Companies Returned
There’s still lots of federal cash available for small and medium-sized businesses (SMBs) in need of a hand up through the COVID-19...
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3.1KSBA, Treasury Fail To Release PPP Loan Data
The Treasury Department and Small Business Administration (SBA) don't seem likely to release the data this week on Paycheck Protection Program (PPP)...
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1.9KPPP Application Deadline Extended Until Aug. 8
The U.S. House of Representatives has passed a bill to extend the deadline for businesses to apply for forgivable loan aid through...
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2.0KSenate Approves Five-Week Extension For Paycheck Protection Program
Just as the application deadline was set to expire on the Paycheck Protection Program (PPP) at midnight Tuesday (June 30), the U.S....
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2.3KLenders Tighten Credit Requirements Amid New Reporting Rules
It’s a little harder for U.S. consumers to get credit as lenders retreat during the coronavirus crisis, The Wall Street Journal reported....
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3.2KWill Congress Extend The PPP's June 30 Deadline?
The deadline for applying for Paycheck Protection Program loans is coming next Tuesday (June 30) after the PPP’s long and eventful run,...
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4.3KWirecard Catches A $2B Break From Lenders On Loan Repayment
After a week of bad news, the embattled Wirecard AG caught a break from lenders that provided 1.75 billion euros ($2 billion) in credit...
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2.4KData Shows Less US Home Mortgages In Forbearance First Since March
The latest Forbearance and Call Volume Survey by the Mortgage Bankers Association (MBA) has seen a decrease in the number of loans...
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3.9KSome PPP Borrowers Foresee Layoffs When PPP Money Runs Out
After using their Paycheck Protection Program (PPP) loans, 14 percent of borrowers foresee needing to lay off staffers, per a survey from the NFIB...
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2.7KTreasury To Release SMB Data On PPP Loans
In a 180-degree turn, the Trump administration now says it will release the names of Paycheck Protection Program (PPP) recipients and the...
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3.9KProposal Would Allow SMBs To Get Another PPP Loan
More help for certain small business owners could be on the way if Congress approves another round of Paycheck Protection Program (PPP)...
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3.4KUS Consumers Defer Payments On More Than 100 Million Loans
There are now more than 100 million skipped payments on student loans, auto loans and other kinds of debt, according to a...
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2.8KBorrowers Come Up Short On Home Equity Lines In Pandemic
For many Americans, home equity lines of credit aren't a sure thing right now, with a 19 percent drop nationwide, The Wall...
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2.0KEconomists Recommend More Lenient Terms For Main Street Lending Program
A pair of former Federal Reserve economists said they think the government should ease the rules on who can participate in the...
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4.8KSquare Capital Processed 76K PPP Loans Totaling $820M
Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks,...
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2.5KDemocrats Ask Bank CEOs For PPP Records
U.S. Democratic lawmakers, in letters to the chief executives of several large banks, demanded the release of documents related to loans made...
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2.5KGoldman Pledges Another $250M For SMB Loans, Aims To Help Minority-Owned Businesses
Goldman Sachs has upped the ante by another $250 million in the amount of capital it is providing for a federal loan...
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4.3KSenators Look To Extend PPP Loans To Include More SMBs
A group of Democratic senators has introduced a new Paycheck Protection Program (PPP) for small businesses with 100 or fewer employees, including...
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3.6KUS Lenders Expect Few Loan Defaults
U.S. lenders say they expect most borrowers who were given a temporary reprieve on loans due to income loss from the impact...
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5.2KHigh Tech Microlending — And Why Chickens Hatch Great ROI
The World Bank distributes about $25 billion a year to countries through governments that identify areas where investment is needed and capital...
