As the pandemic lingers and as individuals and families endure cash crunches and job losses, the exposure to unplanned expenses can reach critical levels. As PYMNTS research has found, roughly 60 percent of Americans live paycheck to paycheck. And statistics from the Federal Reserve show...
The Federal Reserve’s Main Street Lending Program, intended to give support to small- to medium-sized businesses (SMBs) during the pandemic, has only disbursed $17.5 billion, around 3 percent of its total $600 billion, Bloomberg reported, citing data released by the central bank. Get the Full Story...
The biggest U.S. banks have dialed back the portion of their balances they’re willing to use on loans to new lows, Bloomberg reported, citing data from the Federal Reserve. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
A new report from the Small Business Administration (SBA) found that there were $72.7 billion in Paycheck Protection Program (PPP) loans distributed in the month of January, with 891,044 loans approved. The lender count comes out to 4,942. Get the Full Story Complete the form...
Former Treasury Secretary Steven Mnuchin and Texas Sen. Ted Cruz are the subjects of a pair of watchdog investigations, Bloomberg reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins...
The European Central Bank (ECB) is concerned that regional banks are not setting aside as much money as other countries to cover loan losses stemming from the ongoing pandemic. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
The U.S. Small Business Administration (SBA) has approved 400,000 more pandemic relief loans worth $35 billion, saying it is trying to repair operational problems in the program brought up by lenders, Reuters reported. Get the Full Story Complete the form to unlock this article and...
During the first week of the newly-reopened Paycheck Protection Program (PPP), some 60,000 loans were extended totaling $5 billion, the Wall Street Journal (WSJ) reported on Wednesday (Jan. 20). Get the Full Story Complete the form to unlock this article and enjoy unlimited free access...
The second round of federal funds to small businesses is already on its way out the door, with the Paycheck Protection Program (PPP) opening up $284.5 billion for PPP loans, with $137 billion set aside for “second-draw” loans for firms that need help beyond their...
