SBA

Big Restaurant Chains Feast On Millions From PPP Program

Big Restaurant Chains Feast On Millions From PPP Program
Big Restaurant Chains Feast On Millions From PPP Program
April 19, 2020  |  Loans

The hospitality group behind Ruth’s Chris Steak House — operator or franchiser of 159 restaurants — showed a profit of $42 million on $468 million...

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JPMorgan: $26B Worth Of SMB Relief Loans In The Pipeline
JPMorgan: $26B Worth Of SMB Relief Loans In The Pipeline
April 17, 2020  |  Loans

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...

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SBA Says It Has Approved 1.6M PPP Loans
SBA Says It Has Approved 1.6M PPP Loans
April 17, 2020  |  Loans

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...

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FTC Files Case Against RI Firm Allegedly Posing As SBA Lender; Company Claims Error
FTC Files Case Against RI Firm Allegedly Posing As SBA Lender; Company Claims Error
April 17, 2020  |  Legal & Regulation

A Rhode Island company is facing allegations of falsely claiming to be an authorized lender for the Small Business Association’s (SBA) Paycheck Protection Program (PPP)....

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The Fed Communicates Rule Change For The SBA’s PPP
The Fed Communicates Rule Change For The SBA’s PPP
April 17, 2020  |  Economy

To enhance the effectiveness of the Paycheck Protection Program (PPP) of the Small Business Administration (SBA), the Federal Reserve Board announced a rule change. The...

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Schumer: New COVID-19 Stimulus Could Come ‘Soon’
Schumer: New COVID-19 Stimulus Could Come ‘Soon’
April 17, 2020  |  Economy

Sen. Charles Schumer (D-New York) says Democrats and the White House could “soon” agree on a new COVID-19 stimulus package, presumably including more loans for small...

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What’s Next For Small Businesses Amid The SBA PPP Loan Saga?
What’s Next For Small Businesses Amid The SBA PPP Loan Saga?
April 17, 2020  |  SMBs

On April 3, the federal government launched a heretofore unprecedented program to funnel money to U.S. small businesses hit hard by the coronavirus pandemic. Get...

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FinTech Faces Hurdles Making SBA Loans
FinTech Faces Hurdles Making SBA Loans
April 16, 2020  |  Banking

PayPal Holdings Inc., Square Inc. and Intuit Inc., three California technology companies, all wanted a piece of the federal government’s $350 billion loan program, which was...

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