Despite persistent pandemic-related uncertainties, optimism among small and middle market businesses is on the rebound, according to Umpqua Bank’s 2021 Business Barometer released today. More than half of middle market firms—55%—said they expect economic conditions to improve, up from just 33% a year ago, and 52% of small firms said they also expect improvement.
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Bankers helped small businesses bridge through to the economic recovery. Now they’re looking at how to help those that may have been left behind—and support a new wave of small business formation.
The Small Business Administration tonight issued an updated procedural notice regarding the reporting process through while lenders report on Paycheck Protection Program loans and collect processing fees.
The Small Business Administration on Saturday updated its set of frequently asked questions on the Paycheck Protection Program.
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The Federal Reserve today clarified its expectations for lenders when underwriting Main Street Lending Program loans.
After officially opening the Main Street Lending Program for lender registration yesterday, Federal Reserve Chairman Jerome Powell said its corresponding Main Street Lending Facility will begin receiving MSLP loans “within a week or so.”
A bipartisan group of senators on Friday wrote to Treasury Secretary Steven Mnuchin and Small Business Administration Administrator Jovita Carranza calling for a more streamlined Paycheck Protection Program forgiveness application process for small firms.
The Federal Reserve today announced several adjustments to the Main Street Lending Program intended to facilitate participation by more small and midsize businesses.