Emergency small business loan program is off to shaky start amid blitz of applications

The emergency small business lending program got off to a rocky start with most big banks saying they weren’t prepared to start processing applications when the program launched last Friday......»»

A flood of loan applications from coronavirus-hit businesses inundated lenders on Friday as the U.S. government launched its $349 billion bailout fund for small and midsize companies amid widespread confusion about just how the program works......»»

A $350 billion emergency U.S. loan program to help small businesses keep workers on their payrolls amid the novel coronavirus disruption has run out of funds, the U.S. Small Business Administration said on Thursday......»»

A $350 billion emergency U.S. loan program designed to help small businesses keep workers on their payrolls amid the novel coronavirus disruption has run out of funds, the U.S. Small Business Administration said in an email on Thursday......»»

Fallout from the Small Business Administration’s Paycheck Protection Program loan could last for years as the agency works through billions of dollars in forgiveness applications and inevitable appeals. That is partly because of the addition of a s.....»»

Backers of the program have said it's one of the largest state-involved loan efforts in America to come out of the coronavirus pandemic......»»

The Small Business Administration plans to start offering PPP loans for its next round of PPP funding on Monday, Jan. 11. Here's what small business owners should expect in the next round of funding......»»

Citigroup said it has shifted 2,000 employees to help with Paycheck Protection Program loans for small businesses. The bank has submitted more than 27,500 applications to the federal Small Business... To view the full story, click the title link......»»

After initially telling businesses that individual disaster loans could be as high as $2 million, the Small Business Administration has now imposed a $150,000 limit without publicly announcing the change, people familiar with the situation said......»»

JPMorgan Chase & Co said it has submitted roughly 220,000 applications worth $17.8 billion to the Small Business Administration's Paycheck Protection Program to help small businesses hurt by the coronavirus shutdown......»»

JPMorgan Chase & Co said on Wednesday that it had submitted roughly 220,000 applications worth $17.8 billion to the Small Business Administration's Paycheck Protection Program to help small businesses hurt by the coronavirus shutdown......»»

After a shaky relaunch Monday, bankers say the Paycheck Protection Program’s emergency loan program is starting to work a bit better......»»

Minutes after a $310 billion aid program for small companies opened for business on Monday, the online portal for submitting applications crashed. And it kept crashing all day, much to the frustratio.....»»

Applications for the Harris County forgivable loan program are now being reviewed by underwriters, though the timetable on when the funds will be disbursed to small business owners remains unclear. The $10 million forgivable loan program is being admin.....»»

Bankers have experienced challenges in getting loan applications uploaded to the Small Business Administration......»»

The U.S. Small Business Administration is readying to dole out billions more in loans for businesses nationwide. The program will start taking applications again next week......»»

The U.S. Small Business Administration is readying to dole out billions more in loans for businesses nationwide. The program will start taking applications again next week......»»

The U.S. Small Business Administration is readying to dole out billions more in loans for businesses nationwide. The program will start taking applications again April 27......»»

The U.S. Small Business Administration is readying to dole out billions more in loans for businesses nationwide. The program will start taking applications again next week......»»

The U.S. Small Business Administration is readying to dole out billions more in loans for businesses nationwide. The program could start taking applications as soon as Monday......»»