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Hawaii banks cross $1B threshold in PPP loans for 2021

Through March 10 of this year loans, the Hawaii Bankers Association had received over 15,500 Paycheck Protection Program applications, with over 10,500 of them successfully submitted to the Small Business Administration.....»»

Category: topSource: bizjournalsMar 26th, 2021

Time to Fix What’s Broken: Senate Leaders Seek Oversight of PPP Loans

WASHINGTON, D.C. – Since the launch of the Paycheck Protection Program (PPP), small business owners have been left behind by their banks and the government... The post Time to Fix What̵.....»»

Category: blogSource: valuewalkMay 5th, 2020

PPP reality for banks: Grueling hours, not much profit

For banks participating in the U.S. Small Business Administration's Payroll Protection Program, the hours are long and the technological investments to process loans are costly, but the payoff is paltry, bankers say......»»

Category: topSource: bizjournalsMay 3rd, 2020

Dispatches from a Pandemic: ‘I have a mortgage to pay’: Sex workers banned from small-business loans under CARES Act due to ‘prurient sexual nature’

Andre Shakti majored in deaf studies and psychology at college, helps to support her father, and works as a stripper, dominatrix and sex educator......»»

Category: topSource: marketwatchMay 1st, 2020

BBVA USA provided more than $2B in first round of PPP loans

One of Birmingham’s largest banks approved in excess of $2 billion in the first round of Paycheck Protection Program loans through the Small Business Administration. BBVA USA received nearly 24,000 PPP applications and was approved to provide approxi.....»»

Category: topSource: bizjournalsApr 30th, 2020

PPP reality for banks: Grueling hours, not much profit. So why do it?

For banks participating in the U.S. Small Business Administration's Payroll Protection Program, the hours are long and the technological investments to process loans are costly, but the payoff is paltry, bankers say......»»

Category: topSource: bizjournalsApr 29th, 2020

Minority businesses worry they are locked out of payroll lending program

As the government issues a second round of aid for small business owners, some U.S. senators, community banking groups and minority-owned banks said they are worried businesses owned by people of color may miss out on receiving much-needed loans......»»

Category: topSource: reutersApr 29th, 2020

New $310 billion for PPP small-business loans likely already gone, banks say

Banking groups say the volume of Paycheck Prot.....»»

Category: topSource: chicagotribuneApr 24th, 2020

The stimulus money was supposed to help small businesses. But big banks reportedly let their wealthiest clients get money first.

Spencer Platt/Getty Images JPMorgan Chase, Citibank, and US Bank prioritized their wealthiest customers' applications for small-business loans, the New York Times reported on Wednesday. The bank.....»»

Category: topSource: businessinsiderApr 23rd, 2020

Twin Cities lenders can still handle PPP loans, but how much more?

Yes, the Paycheck Protection Program loans are backed by the Small Business Administration, but banks can only carry so much on their balance sheets......»»

Category: topSource: bizjournalsApr 20th, 2020

PRESENTING: What to do if you missed out on federal small business loans, now that funding has dried up

Getty Images Less than two weeks after launch, all of the $349 billion allocated to small businesses in the CARES Act has been committed, meaning banks no longer have the backing of the US Treasury to provide forgiveable lo.....»»

Category: topSource: businessinsiderApr 18th, 2020

Here"s how many PPP loans are approved for Arizona businesses so far

Business owners have flooded banks with applications to get funds before they run out. Here's which states have received the most funding so far, and what's expected to happen next......»»

Category: topSource: bizjournalsApr 14th, 2020

More than $3.5 billion in PPP loans approved in Arizona

Business owners have flooded banks with applications to get funds before they run out. Here's which states have received the most funding so far, and what's expected to happen next......»»

Category: topSource: bizjournalsApr 14th, 2020

PayPal and Intuit Can Make Emergency Small-Business Coronavirus Loans

The fintechs join traditional banks in the new Small Business Administration lending program......»»

Category: topSource: moneycentralApr 13th, 2020

Wells Fargo again urges small business customers to consider other banks for SBA relief loans

Wells Fargo's rocky week with the SBA PPP ended with the bank still urging its small business customers to consider other banks for SBA relief loans. That's easier said than done......»»

Category: topSource: bizjournalsApr 12th, 2020

Wells Fargo again urges small-business customers to consider other banks for SBA relief loans

Wells Fargo's rocky week with the SBA PPP ended with the bank still urging its small-business customers to consider other banks for SBA relief loans. That's easier said than done......»»

Category: topSource: bizjournalsApr 11th, 2020

Wells Fargo is again urging small-business customers to consider other banks for SBA relief loans

Wells Fargo's rocky week with the SBA PPP ended with the bank still urging its small-business customers to consider other banks for SBA relief loans. That's easier said than done......»»

Category: topSource: bizjournalsApr 11th, 2020

Wells Fargo is again urging small business customers to consider other banks for SBA relief loans

Wells Fargo's rocky week with the SBA PPP ended with the bank still urging its small business customers to consider other banks for SBA relief loans. That's easier said than done......»»

Category: topSource: bizjournalsApr 10th, 2020

Wells Fargo is again urging small business customers to consider other banks for SBA relief loans

Wells Fargo's rocky week with the SBA PPP ended with the bank still urging its small business customers to consider other banks for SBA relief loans. That's easier said than done......»»

Category: topSource: bizjournalsApr 10th, 2020

Banks given capital break for small-business loans amid crisis

The Federal Reserve and other regulators have granted a sweeping capital break for banks providing loans to small businesses as part of the government’s response to the coronavirus-fueled economic... To view the full story, click the title link......»»

Category: blogSource: crainsnewyorkApr 9th, 2020