Smarter Lending for a Better Economy
How community banks can help small business owners in the current crisis and build their resilience for tomorrow.
How community banks can help small business owners in the current crisis and build their resilience for tomorrow.
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.
The American Bankers Association today wrote to congressional leaders urging them to exempt Paycheck Protection Program forgiveness income from tax reporting.
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.
The bill is expected to significantly reduce the paperwork burden for a vast majority of PPP borrowers.
The American Bankers Association and all 51 state bankers associations wrote to the Treasury Department and the Small Business Administration today urging formal guidance to address confusion regarding fees paid to agents who process PPP applications.
Beyond the immediate changes required by social distancing, the COVID-19 pandemic has “accelerated things that were in progress for a long time,” says Frank Sorrentino, chairman and CEO of ConnectOne Bank.
The Small Business Administration today issued a procedural notice providing detailed instructions for Paycheck Protection Program lenders on the PPP forgiveness process.
ABA, the Bank Policy Institute and the Consumer Bankers Association today urged the Small Business Administration and the Treasury Department to create a one-page attestation form for Paycheck Protection Program borrowers with “de minimis” loan amounts to have their loans forgiven.
While the coronavirus pandemic has harmed small businesses across the board, minority small business owners report disproportionately large effects, according to the latest Wells Fargo/Gallup Small Business Index survey.