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Loans
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844PPP 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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1.1KSenate 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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1.3KLenders 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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2.3KWill 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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3.3KWirecard 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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1.5KData 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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2.3KSome 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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2.0KTreasury 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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2.4KProposal 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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2.5KUS 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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2.0KBorrowers 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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1.5KEconomists 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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3.3KSquare 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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1.8KDemocrats 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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1.9KGoldman 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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3.4KSenators 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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2.8KUS 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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4.3KHigh 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...
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3.5KChuck E. Cheese Seeks Loan For Debt Payment
Chuck E. Cheese, the popular food and games chain, is talking to investors about ways to raise money to avoid filing for...
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4.8KPresident Trump Signs PPP Loan Flexibility Legislation
As some firms grapple with meeting pivotal standards for loan forgiveness amid the pandemic, President Donald Trump signed a bill into law...
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4.4KPPP Extension Hopes To Draw SMBs Before June 30 Deadline
As reported, the Senate voted unanimously on Wednesday (June 3) to pass the Paycheck Protection Program Flexibility Act, which had passed the...
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4.4KSenate Passes Bill To Extend PPP For SMBs
The U.S. Senate passed a bill Tuesday (June 3) amending the way the Paycheck Protection Program (PPP) works, extending the time for...
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Two Republican Senators Hold Up PPP Amendment Bill
Two Republican Senators are holding up a bill that would extend the end date of the Paycheck Protection Program (PPP) from August...
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3.9KTwo Banking Groups Call For Automatic PPP Loan Forgiveness
The Consumer Bankers Association and Bank Policy Institute, in a co-signed letter, have called on Congress to automatically forgive Paycheck Protection Program (PPP)...
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3.1KMortgage Purchase Applications Rise For Seventh Consecutive Week
One of the few bright spots in the nation’s ailing economy is the housing market. Fueled by the lowest home loan rates...
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3.3KWhy Wells Fargo Braked On Loans To Independent Auto Dealers
The coronavirus has idled all sorts of lending, as banks and other financial services firms eye consumers with wariness. Unemployment, after all, has...
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2.6KWells Fargo Cuts Off Lending Services For Independent Car Dealers
Wells Fargo will no longer be giving loans to independent auto dealers, according to a report from CNBC. Last month, the bank...
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2.4KSlow Recovery Poses Risk To Nonbank Lenders
If their business borrowers close or have trouble recovering following coronavirus lockdowns, nonbank lenders might have to raise capital. Business development companies...
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4.1KSBA Data Shows $20B+ Of PPP Loans Have Been Canceled
A minimum of $20 billion in Paycheck Protection Program (PPP) loans have been canceled — many by small businesses afraid they can’t...
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3.2KReport: SEC Probing Public Firms That Received PPP Funds
The U.S. Securities and Exchange Commission (SEC) has launched an investigation into publicly traded companies that received COVID-19 stimulus funds, Bloomberg News...
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3.0KHouse Eases Rules On PPP Loans
A measure that would make it easier for small businesses (SMBs) to get their hands on a forgivable federal loan has easily...
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2.3KLendingClub Introduces Member Center With Personal Finance Resources
The economic crisis sparked by the COVID-19 pandemic has hit millions of people and small businesses hard. In response, LendingClub Corp. is...
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3.3KPPP Loan Demand Peters Out Amid SMB Confusion
First the rush to get in – and then, perhaps, the rush to get out. Since debuting on April 3, the Paycheck...
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6.7KDemand For PPP Loans Evaporates; $150B Still Available
When the first round of forgivable Paycheck Protection Program (PPP) loans became available April 3, the funds ran out within days. When...
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7.7KPPP Loan Forgiveness May Be Hard To Win For Self-Employed Workers
The self-employed might regret getting one of the Paycheck Protection Program (PPP) loans from the Small Business Administration (SBA). CNBC reported these...
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2.6KNY’s Transit Authority Wants To Use Fed’s New Loan Initiative
New York’s Metropolitan Transit Authority (MTA) is seeking permission to borrow from the Federal Reserve’s $500 billion Municipal Liquidity Facility (MLF) due...
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3.8KSenate Bill Would Double Time For PPP Loans
The U.S. Senate is on track to pass legislation that would double the time small- to medium-sized businesses (SMBs) have to use...
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2.9KBanks Brace For Forbearance Program Expiry Dates
The time is almost up for people who got mortgage forbearance under the CARES Act, but banks can’t predict how many will...
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6.7KHouse Expected To Approve PPP Changes
A bipartisan proposal to improve the terms of the Small Business Administration’s Paycheck Protection Program (PPP) is expected to face a House...
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2.6KPelosi, House Look To Overhaul SMB PPP Relief Loans
Businesses struggling to stay afloat amid the coronavirus pandemic but shut out of stimulus programs could see renewed relief as Speaker Nancy...
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2.4KWarren, Mnuchin Clash Over PPP
In the most contentious moments of the Senate Banking Committee’s inquiry into the $2 trillion CARES Act on Tuesday (May 19), Sen....
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14.8KMore PPP Forgiveness Guidelines Unveiled, But Clarity Remains Elusive
It’s no secret that the federal Paycheck Protection Program (PPP) has had a rocky few weeks since initially launching in early April....
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2.8KMnuchin, Powell To Face Senate Over PPP, Stimulus Funds
Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell will testify remotely before the Senate on Tuesday (May 19) regarding the...
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2.9KRestaurant Execs Ask Trump For PPP Modifications
At a roundtable event with restaurant executives on Monday (May 18), several executives put forward a request to President Donald Trump and...
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7.9KKabbage Is Revived By Processing PPP Loans
Kabbage Inc., the financial technology company that funds small businesses, has issued 110,000 Paycheck Protection Program (PPP) applications totaling more than $3.5...
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4.5KSMBs Could Get More Flexibility To Use PPP Loans
The rules surrounding small business loans from the Paycheck Protection Program (PPP) are being overhauled as demand cools and small and medium-sized...
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3.1KPublic Companies Have Returned Nearly A Third of PPP Loan Money
Thanks…but, on second thought, no thanks. In the roughly month-and-a-half since its debut, the Paycheck Protection Program (PPP) has had its share...
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2.5KAlmost 350 Public Firms Keep PPP Loan As Giveback Deadline Hits
Cutera, a California-based beauty device maker, was among the recipients of the Paycheck Protection Program (PPP) despite being worth $26.7 million in...
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4.1KSBA Revises Guidance On PPP Loan Forgiveness
The Paycheck Protection Program (PPP) has been nothing if not fluid. The initiative to extend hundreds of billions of dollars in loans...
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5.5K$120B Still Available As Appetite For PPP Loans Slows
The small business Paycheck Protection Program (PPP) still has $120 billion available as the appetite for the forgivable loans slows down, according...
