Browsing: Commercial Lending
SBA Updates Guidance on PPP Forgiveness, Loan Reviews
The Small Business Administration today released several elements of guidance for Paycheck Protection Program lenders and borrowers.
Analysis: 9 in 10 Publicly Traded PPP Borrowers Kept Loan Funds
Just 12% of publicly traded Paycheck Protection Program borrowers elected either to decline or return loan funds after approval, while 25% of public companies approved for loans of $5-10 million did the same, according to an analysis by the law firm Bryan Cave Leighton Paisner released today.
ABA Data Bank: Banks of All Sizes Helped Provide Critical Financial Lifeline to Small Biz
Breaking down of Paycheck Protection Program lending by banks in the second quarter (through June 30, 2020), by asset size.
ARRC Releases SOFR ‘Starter Kit’
As part of its ongoing work to facilitate the transition by financial market participants away from the London Interbank Offered Rate, the Alternative Reference Rates Committee today released a “starter kit” of resources on the Secured Overnight Financing Rate.
ABA, Banking Groups Urge Upfront Clarity in PPP Extension Plan
As Congress negotiates a new round of coronavirus relief, including an extension of the Paycheck Protection Program, ABA and several other banking groups urged senators to provide clarity and enhancements in the legislative text.
Smarter Lending for a Better Economy
How community banks can help small business owners in the current crisis and build their resilience for tomorrow.
ABA Welcomes CFPB’s Reg Z Libor Transition Proposal, Recommends Tweaks
With the London Interbank Offered Rate relied on by many banks not guaranteed to be available after 2021, ABA and the Consumer Bankers Association today welcomed the Consumer Financial Protection Bureau’s proposed changes to Regulation Z designed to facilitate the transition away from Libor.
SBA Releases New PPP Forgiveness FAQs, Lending Data
The Small Business Administration today released a new set of frequently asked questions regarding the forgiveness of Paycheck Protection Program loans and reflecting recent changes to the program that were included in the PPP Flexibility Act.
Fed Survey: Loan Demand Plummets in Second Quarter
As the U.S. economy dove deeper into recession amid the coronavirus pandemic in the second quarter, more than half of banks reported weaker demand for commercial and industrial loans, according to the Federal Reserve’s latest survey of senior loan officers released yesterday.