If their business borrowers close or have trouble recovering following coronavirus lockdowns, nonbank lenders might have to raise capital. Business development companies (BDCs) that lend to small and medium-sized businesses (SMBs) have quickly grown over the last 10 years and Refinitiv data indicates that total...
A minimum of $20 billion in Paycheck Protection Program (PPP) loans have been canceled — many by small businesses afraid they can’t spend the money in ways that will qualify for loan forgiveness, calculations of Small Business Administration (SBA) data by Bloomberg found. SBA reports indicate $510.5...
The U.S. Securities and Exchange Commission (SEC) has launched an investigation into publicly traded companies that received COVID-19 stimulus funds, Bloomberg News reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
A measure that would make it easier for small businesses (SMBs) to get their hands on a forgivable federal loan has easily passed the House, The Wall Street Journal reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free...
The economic crisis sparked by the COVID-19 pandemic has hit millions of people and small businesses hard. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our...
First the rush to get in – and then, perhaps, the rush to get out. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter,...
When the first round of forgivable Paycheck Protection Program (PPP) loans became available April 3, the funds ran out within days. When the second round was released on April 27, demand had fizzled to a point where there is still $150 billion up for grabs. Get...
The self-employed might regret getting one of the Paycheck Protection Program (PPP) loans from the Small Business Administration (SBA). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe...
New York’s Metropolitan Transit Authority (MTA) is seeking permission to borrow from the Federal Reserve’s $500 billion Municipal Liquidity Facility (MLF) due to coronavirus-related troubles, Bloomberg reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
