Small Business Administration (SBA) loan programs funded by the federal stimulus act have raised the volume of loans in New Jersey. Since January 2009, SBA has given out 1,009 loans amounting to 336.2 million U.S. dollars. Over ...
When will the loans be available? The loans will be made available to businesses as soon as Friday, Mnuchin told FOX Business, with a same-day evaluation system put into place. However, some have cautioned that it may take longer for businesses to receive that cash. “We’ve been on the...
Such figures, just starting to trickle out of U.S. lenders, are bound to fuel more anger over the chaotic Paycheck Protection Program administered by the Small Business Administration. They show the nation’s top bank, JPMorgan Chase & Co., arranged more loans than any other, as one would...
The Act includes a small business loan program, known as the “Paycheck Protection Program” (PPP), that makes available forgivable loans of up to $10 million during the covered period of February 15, 2020 to June 30, 2020 if the business retains its employees and otherwise meets the ...
Most banks should already have the information required to provide the loan, but if your current bank doesn’t have this information yet, or if you’re a new business without a working relationship with a bank yet, check in with other local banks that provide business loans. ...
Bankers tell FOXBusiness that many hedge funds are minority investors in lucrative small firms that could -- and have -- qualified for the loans. Congress is now hammering out the details of another $250 billion in federal money earmarked for low-interest small business loa...
"The aid starts as loans, but if the money is used to preserve jobs and maintain wages of employees over the crisis, then the loans can be forgiven — potentially keeping tens of millions of small business employees on payroll," the Economic Policy Institute's Josh Bivens and Heidi Shierho...
Small Business Loans If you own a small business or work for one, you may benefit from thezero-interest loansthat the federal government will be offering through the Small Business Administration. The loans are for businesses with fewer than 500 employees. They are loans that need to be ...
According to Jim Kocsi, New Jersey district director for the Small Business Administration (SBA), efforts are being made to provide federal guarantees to banks that make SBA loans. Under the Act, federal funds wil...
Square joins PayPal and Intuit as Treasury Department-approved participants of the U.S. Small Business Administration's Paycheck Protection Program, which provides aid in the form of forgivable loans for small businesses that use at least 75% of the loan to all employees on their payroll for at...