Browsing: Small business lending

Newsbytes

With the Small Business Administration’s Paycheck Protection Program officially winding down tonight, Treasury Secretary Steven Mnuchin told the House Financial Services Committee today that the administration is working with lawmakers to repurpose the $135 billion of funding still left in the program.

Commercial Lending

The Small Business Administration tonight issued a new interim final rule implementing in regulation changes made to the Paycheck Protection Program loan forgiveness process by the PPP Flexibility Act and other recent developments, including the SBA’s simplified Form 3508EZ forgiveness application.

Commercial Lending

The Small Business Administration issued a procedural notice on Friday night providing guidance on using Paycheck Protection Program loan proceeds to refinance an SBA Economic Injury Disaster Loan, as well as providing instructions for PPP lenders on the procedure for remitting to SBA any PPP loan funds designated for an EIDL refinance.

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