Small Business Administration

Fed Renews Pledge To Back PPP Loans
Fed Renews Pledge To Back PPP Loans
April 16, 2020  |  Coronavirus

The Federal Reserve Board reassured lenders on Thursday (April 16) that its loan guarantee program to small businesses is alive and well. Under the Small...

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SBA Small Business Loan Program Is Out Of Cash
SBA Small Business Loan Program Is Out Of Cash
April 16, 2020  |  Loans

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...

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Main Street USA: 58 Percent Of Main Street SMB Retailers Say They May Not Survive The Pandemic
Main Street USA: 58 Percent Of Main Street SMB Retailers Say They May Not Survive...
April 16, 2020  |  Coronavirus

The Paycheck Protection Program (PPP) began accepting applications on April 3. Lawmakers and business leaders alike have high hopes for the program, believing it will...

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SBA Fund Coffers Said To Run Dry Unless Congress Adds More
SBA Fund Coffers Said To Run Dry Unless Congress Adds More
April 15, 2020  |  Coronavirus

For businesses that have not yet applied for a loan under the $350 billion federal stimulus program designed to mitigate the economic ravages of the...

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Today In Payments: Fed Rolls Out SMB Lending Program; Mnuchin Says Country Could Re-Open In May
Today In Payments: Fed Rolls Out SMB Lending Program; Mnuchin Says Country Could Re-Open In...
April 10, 2020  |  News

In today’s top news, the Federal Reserve has launched a multi-trillion-dollar lending program that targets smaller companies and local governments, while the demand for Small...

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The Two Things Keeping PPP Funds From Flowing Into SMB Bank Accounts
The Two Things Keeping PPP Funds From Flowing Into SMB Bank Accounts
April 09, 2020  |  Banking

For the last week, a veritable tidal wave of small- to medium-sized business (SMB) owners have been lining up to apply for Paycheck Protection Program (PPP) funds —...

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Today In Payments: Toast Reduces Headcount Amid Coronavirus; SBA Faces Difficulties With Relief Loans
Today In Payments: Toast Reduces Headcount Amid Coronavirus; SBA Faces Difficulties With Relief Loans
April 08, 2020  |  News

In today’s top news, Toast is decreasing its headcount amid the coronavirus, and Amazon is halting its shipping service as it needs workers for more...

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Mastercard Pledges $250M In Help For Small Businesses
Mastercard Pledges $250M In Help For Small Businesses
April 07, 2020  |  Mastercard

Recognizing that Main Street is being hard hit by the coronavirus pandemic, Mastercard committed $250 million over the next five years to support small- to...

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Small Business Rescue Program Encounters Technical Challenges
Small Business Rescue Program Encounters Technical Challenges
April 06, 2020  |  Loans

Amid processing and technology challenges that are holding back payments, the U.S. government’s $350 billion small business rescue program began its fourth day on Monday...

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