The Small Business Administration today informed trade associations that Paycheck Protection Program funding has been exhausted and that the PPP application portal will on Tuesday stop accepting applications for loans from most lenders.
Browsing: SBA Paycheck Protection Program
The Small Business Administration today extended its guidance on how lenders may sell whole Paycheck Protection Program loans. The SBA’s previous guidance on whole loan sales of PPP loans expired on May 1, and the new guidance been back-dated to take effect on April 30, 2021.
Just over four in 10 small business owners say they expect to grow revenue in 2021, while just 9% expect revenues to decline, according to a new survey released today by TD Bank.
In an address during ABA’s Emerging Leaders Forum today, Rep. Young Kim (R-Calif.), one of the first Korean American women to serve in Congress, thanked the banking industry for its work getting funds to small businesses through the Paycheck Protection Program and urged attendees to engage with lawmakers and share how important banking is to communities.
On the latest episode of the ABA Banking Journal Podcast, the head of commercial banking at regional bank Citizens discusses how the support provided to businesses combined with pent-up consumer demand has business poised to roar back.
The Small Business Administration last night issued a procedural notice addressing Paycheck Protection Program-related deadlines in the wake of the PPP Extension Act.
American Bankers Association Past Chair Laurie Stewart today said that her bank—Sound Community Bank in Seattle, of which she is CEO—has seen “great results” from Paycheck Protection Program loans made to small business customers over the last year.
In a meeting with members of ABA’s executive committee today, Deputy Treasury Secretary Wally Adeyemo said that he is in the process of conducting a full review of the nation’s economic and financial sanctions programs, and “noted the important role financial institutions play in implementing these policies,” according to a readout of the meeting.
The Small Business Administration last night issued a procedural notice to lenders regarding the extension of the Paycheck Protection Program.