Small businesses have flooded banks, credit unions and financial firms across the country to secure forgivable loans through the SBA’s Paycheck Protection Program (PPP) afterand Congress approved an additional $310 billion in funding last week. The original $349 billion allocated for PPP loans ran...
For some borrowers, the lender may have been unwilling to provide a loan initially. However, when the government is backing a major portion of the loan, the lender may decide the risk is more acceptable. “The SBA works with lenders to provide loans to small businesses,” reads the SBA ...
The companies said that the Paycheck Protection Program loans have allowed them to keep employees on the payroll and that they disagree with thefederal government's move to make it harder for public companiesto receive emergency funds. The outrage stems from the belief that these companies could ...
The $350 billion lending program authorized by the latest stimulus package aims to expand the access and availability of loans to struggling small businesses. And the terms are now very different. BY BRIT MORSE, FORMER ASSOCIATE EDITOR, INC. @BRITNMORSE MAR 29, 2020 ...
Everything you need to know about SBA disaster assistance loans, which are being offered to small businesses struggling financially during coronavirus.
In aletterrequesting Attorney General William Barr to investigate, the Senators wrote, "The Paycheck Protection Program… was designed by Congress to help struggling small businesses and nonprofit organizations by giving them access to low-cost loans for expenses like keeping their employees on payrol...
and theShuttered Venue Operators Grant–have ended, the SBA’s EIDL program is currently still available for small businesses struggling during the pandemic. As of August 19, the SBA has approved more than 3.8 million EIDLs, worth $259 billion. Congress appropriated $50 billion for EIDL to su...
PPP loans can offer business owners as much as $10 million in assistance. Sometimes, they can also become grants. Are you a field service business ownerstrugglingto pay your employees? Don’t worry if you haven’t applied for a PPP loan yet. Congress recently approved extending the PPP. Yo...
“Now many regional and community banks are scrambling to catch up to some of the big banks that have gotten off to a head start,” Arora added. “Biz2X Accelerate SBA helps banks of all sizes process these PPP loans quickly and s...
Specifically, Guzman will be tasked with overseeing the PPP, the forgivable loan program that’s supported $687 billion in loans to 7.6 million small businesses–that is, if it doesn’t sunset on March 31. While the latest stimulus package did not extend the program, the PPP is expected to...