The Paycheck Protection Program (PPP) was intended to extend forgivable loans to businesses struggling to pay workers and stay afloat amid the coronavirus pandemic. Instead, small businesses in areas less affected by the crisis — like the midwest — are getting a disproportionately higher number...
MYbank, the online lending program of billionaire Jack Ma, is facing a serious test as the Chinese economy reels from the effects of the coronavirus, according to a Bloomberg report. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Banks in the U.S. have extended over $500 billion in loans to small and medium-sized businesses (SMBs) affected by the COVID-19 pandemic. The Small Business Administration (SBA) and the Treasury Department said there is roughly $145 billion left in the fund, according to a Reuters...
As the coronavirus took hold of the economy, banks in the U.S. tightened standards on loans for both companies and individuals, according to the April Senior Loan Officer Opinion Survey on Bank Lending Practices, published Monday (May 4). Get the Full Story Complete the form...
As small businesses try to beat the odds to get a piece of the latest round of first-come, first-served Paycheck Protection Program (PPP) money, $175 billion worth is already out the door. Get the Full Story Complete the form to unlock this article and enjoy...
Some 2.2 million small business loans totaling $175 billion were extended on Sunday (May 3) in the second round of the Paycheck Protection Program (PPP). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
Texas hospitality group Ashford Inc. is buckling under pressure and will return $70 million in Paycheck Protection Program (PPP) loan money it received due to the coronavirus pandemic, according to The New York Times. Get the Full Story Complete the form to unlock this article...
Small businesses fortunate enough to get their Paycheck Protection Program (PPP) loans forgiven will forfeit some tax breaks, according to new rules from the Internal Revenue Service (IRS). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to...
One of the nation’s biggest names in mortgage lending has put the brakes on home equity lines of credit (HELOC) as the economic turmoil caused by COVID-19 is making the U.S. mortgage market look shaky. Get the Full Story Complete the form to unlock this...
