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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......»»

The pace of processing loans from a popular coronavirus for U.S. small businesses has slowed abruptly, allaying initial concerns that a second round of funding would be exhausted in a matter of... To view the full story, click the title link......»»

Emergency small-business loans have gone disproportionately to areas where borrowers had pre-existing banking relationships rather than areas hardest hit by the coronavirus pandemic, according to... To view the full story, click the title link......»»

About 7.3% of U.S. mortgages entered forbearance plans in April, providing temporary relief to more than 3.8 million borrowers who have lost income during the coronavirus pandemic. The loans have... To view the full story, click the title link......»»

These questions were submitted by participants at our April 6 webcast "What the bailout means for small-business owners." For more on federal relief loans for business owners, please see our Crain’s... To view the full story, click the title link......»»

Gov. Andrew Cuomo outlined how stay-at-home restrictions could be eased for parts of the state. New York Mayor Bill de Blasio said city-run health clinics soon will use a that lets people collect... To view the full story, click the title link......»»

Treasury Secretary Steve Mnuchin said all loans of more than $2 million in a government relief program for small businesses will be audited to ensure they were justified. Large public companies and... To view the full story, click the title link......»»

The world’s biggest banks have set aside $66 billion so far this quarter for an expected increase in bad loans as lockdowns to combat the spread of the coronavirus raise the specter of large-scale... To view the full story, click the title link......»»

City Council members blasted the de Blasio administration's distribution of local Covid-19 aid after officials said just 1% of loans for have gone to the Bronx. Councilman Mark Gjonaj, whose... To view the full story, click the title link......»»

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With an additional $380 billion in the pipeline to help small businesses affected by the pandemic, let's hope this time elected officials get it right and give the money to the businesses that need... To view the full story, click the title link......»»

Expertise helped of a busy New York City subway tunnel linking the trendy Brooklyn neighborhood of Williamsburg to Manhattan, Gov. Andrew Cuomo said Sunday as he announced that trains would resume... To view the full story, click the title link......»»

JPMorgan Chase & Co. provided loans to virtually all of its commercial banking customers that sought financing through the small business relief program, while the lender’s smallest customers were... To view the full story, click the title link......»»

Fannie Mae and Freddie Mac’s regulator is confronting a fresh crisis for the U.S. housing market: The companies won’t buy recently issued loans that were made to borrowers who already can’t afford... To view the full story, click the title link......»»

Here’s a tip for small businesses looking for a loan: You’ll probably have better luck applying at a small bank—maybe a really small bank. Piermont Bank, which Of course, the need for PPP loans... To view the full story, click the title link......»»

SL Green Realty, a major New York landlord, lowered its guidance for 2020 as it faces economic disruption from the coronavirus outbreak. The real estate investment trust said funds from operations,... To view the full story, click the title link......»»

SL Green Realty, a major New York landlord, lowered its guidance for 2020 as it faces economic disruption from the coronavirus outbreak. The real estate investment trust said funds from operations,... To view the full story, click the title link......»»

and Pace University in New York were sued by two students seeking partial refunds on tuition and fees after being denied in-person classes because of the coronavirus<…; pandemic. The students, one... To view the full story, click the title link......»»

Hedge funds aren’t eligible for Small Business Administration stimulus loans because they are primarily engaged in investment speculation, the Treasury Department said in guidance posted... To view the full story, click the title link......»»

Citigroup Inc.’s bond traders just posted their best quarter in eight years—a feat that was no match for the tidal wave of souring loans that walloped the bank’s profits. The deadly pandemic that... To view the full story, click the title link......»»