As expected, the House today passed a bipartisan bill that would provide greater flexibility for Paycheck Protection Program borrowers.
Browsing: SBA Paycheck Protection Program
Fifty-one state bankers associations today raised concerns that the forgiveness application for Paycheck Protection Program loans may be overly burdensome for the nation’s small businesses.
To help ensure that Paycheck Protection Program funds reach all small businesses in need, the Small Business Administration and Treasury Department today announced that they will set aside $10 billion of the second round PPP funds to be used exclusively by community development financial institutions.
Trade Groups Call for Changes to FDIC Proposal to Enable Bank Participation in PPP, Money Market Facilities
A recent proposal by the FDIC to provide certainty to banks participating in the Paycheck Protection program and its associated lending facility falls short of completely offsetting the effect of such participation for any institution, ABA and the Bank Policy Institute said in a comment letter yesterday.
Memorial Day signified the beginning of summer in many parts of the country, and the slow but steady reopening of business activity in the wake of the coronavirus pandemic. Iowa Superintendent of Banking Jeff Plagge offers ideas for long-term solutions to get struggling businesses back on their feet after the lockdown.
The OCC today released a list of 13 interagency frequently asked questions related to the Community Reinvestment Act and the coronavirus pandemic.
The Small Business Administration late last night released much-anticipated interim final rules describing the loan forgiveness process, as well as lenders’ and borrowers’ responsibilities, for the Paycheck Protection Program.
The Small Business Administration today issued guidance to Paycheck Protection Program lenders on filing Form 1502, which will trigger the payment of the PPP loan processing fees to lenders.
A new video released by the American Bankers Association today highlights the many ways America’s banks have stepped up to support customers and communities facing unprecedented challenges during the coronavirus pandemic.
In updates to its Paycheck Protection Program FAQs tonight, the Small Business Administration announced that it will extend the deadline for lenders to submit the still-yet-to-be-released Form 1502, which must be completed in order for lenders to receive their processing fee.