JPMorgan Chase and Bank of America said they processed almost 500,000 applications totaling roughly $46 billion as part of the Paycheck Protection Program intended to help small businesses struggling to due to the pandemic, according to a report in Fox Business on Thursday (April 30)....
The Federal Reserve is extending its $600 billion Main Street lending program to reach small and medium-sized businesses (SMBs) hit by the coronavirus pandemic, the central bank said Thursday (April 30). Get the Full Story Complete the form to unlock this article and enjoy unlimited...
JPMorgan Chase was the biggest saver of funds in an effort by banks around the world to get ahead of a spate of bad loans they believe is coming. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
The coronavirus pandemic is disrupting businesses large and small. While the Paycheck Protection Program (PPP) was intended to help small- to medium-sized businesses (SMBs) weather the economic storm, some larger companies received loans from the program. Get the Full Story Complete the form to unlock...
An industry trade group said it’s highly likely that many restaurants will return loans from the U.S. Small Business Association’s (SBA) bailout program, the Financial Times reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
Any small business getting an emergency coronavirus loan from the Small Business Administration (SBA) greater than $2 million will be subject to an audit, Treasury Secretary Steven Mnuchin said. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
The Federal Reserve is nearly ready to debut its new Main Street lending program, and it is reaching out to banks for advice, according to a report from CNBC. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
U.S. Treasury Secretary Steven Mnuchin said he never “in a million years” expected that the Los Angeles Lakers would take a multi-million-dollar federal loan intended to help small businesses stay afloat amid the COVID-19 pandemic. Get the Full Story Complete the form to unlock this...
The second round of Paycheck Protection Program (PPP) funding was an instant replay of the first, as the loan network collapsed from the tsunami of applications from small businesses desperate for relief. Get the Full Story Complete the form to unlock this article and enjoy...
