The hospitality group behind Ruth’s Chris Steak House — operator or franchiser of 159 restaurants — showed a profit of $42 million on $468 million in revenue in 2019 and a workforce topping 5,000, according to The Wall Street Journal. Yet, the company is one...
JPMorgan Chase & Co. says it has $26 billion in small business relief applications lined up for when Congress approves more funding for the Small Business Association (SBA’s) popular Paycheck Protection Program (PPP). Get the Full Story Complete the form to unlock this article and enjoy unlimited...
The U.S. Small Business Administration (SBA) says that nearly 5,000 lenders have approved 1.6 million loans totaling $342.2 billion under the agency’s Paycheck Protection Program. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content —...
As lawmakers battle over how the next round of bailout money for small businesses should be spent, the president and CEO of Atlanta’s Federal Reserve Bank said up to $500 billion a month may be needed, according to a Reuters report. Get the Full Story...
There’s no more money in the Small Business Administration’s (SBA) bailout initiative. CNBC has reported that the $349 billion intended to keep small businesses afloat as the COVID-19 virus continues to wreak havoc on the nation’s economy has run out. Get the Full Story Complete...
The U.K. is under pressure to get coronavirus-related loans out faster, and some banking officials want the government to consider making them 100 percent state-guaranteed, as opposed to relying on the banks to take the risks. Get the Full Story Complete the form to unlock...
In just over a week, the Paycheck Protection Program (PPP) has approved more than one million loans, for a total gross dollar value, as of April 13, of $247.5 billion. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
Billionaire entrepreneur Mark Cuban, owner of the Dallas Mavericks and investor on the reality show “Shark Tank,” said the Paycheck Protection Program (PPP) is moving too slow to help businesses struggling amid the coronavirus crisis, according to CNBC. Get the Full Story Complete the form...
JPMorgan Chase is attempting to stave off the oncoming economic downturn by raising the standards on who can borrow from them for the time being, according to a Reuters report. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
