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.
Browsing: Small business lending
A conversation with Brent Beardall on WaFd Bank’s response to COVID-19.
From the ABA Banking Journal Podcast team comes the behind-the-scenes story of the Paycheck Protection Program, the largest economic rescue program in American history.
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.
Lenders nationwide had made approximately 4.7 million Paycheck Protection Program loans totaling $515 billion as of Saturday, the Small Business Administration reported today.
While there are several reasons why unemployment unexpectedly fell in May, one contributing factor appears to be the Paycheck Protection Program.
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.
The Small Business Administration today released a three-page “EZ” Paycheck Protection Program loan forgiveness application requiring less documentation and fewer calculations than previously required.
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.