After using their Paycheck Protection Program (PPP) loans, 14 percent of borrowers foresee needing to lay off staffers, per a survey from the NFIB Research Center. Half of those expect to lay off one or two workers, according to a Tuesday (June 23) announcement of the survey results....
In a 180-degree turn, the Trump administration now says it will release the names of Paycheck Protection Program (PPP) recipients and the amount of taxpayer-funded loans they received from the $660 billion in aid for small businesses. “I am pleased that we have been able...
More help for certain small business owners could be on the way if Congress approves another round of Paycheck Protection Program (PPP) loans. The Prioritized Paycheck Protection Program (P4) Act would allow businesses with fewer than 100 employees to get a second loan. To qualify,...
There are now more than 100 million skipped payments on student loans, auto loans and other kinds of debt, according to a report by The Wall Street Journal. At 106 million total by the end of May, the number of skipped payments, deferments or other...
For many Americans, home equity lines of credit aren’t a sure thing right now, with a 19 percent drop nationwide, The Wall Street Journal (WSJ) reported. According to data from credit reporting firm Equifax, as reported by WSJ, banks’ holdings of home equity lines were...
A pair of former Federal Reserve economists said they think the government should ease the rules on who can participate in the U.S.’s Main Street Lending Program intended to aid small- to medium-sized businesses (SMBs), The Wall Street Journal (WSJ) reported. The program is intended...
Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks, the firm reported. The San Francisco-based division of Square Inc., the mobile payment company, said it provided a financial lifeline to more than 76,000 small...
U.S. Democratic lawmakers, in letters to the chief executives of several large banks, demanded the release of documents related to loans made under the government’s Paycheck Protection Program (PPP), CNBC reported. In response to reports that the PPP favored large corporations over small businesses, a...
Goldman Sachs has upped the ante by another $250 million in the amount of capital it is providing for a federal loan program aimed at small businesses, Reuters reported. The Wall Street icon, which is in the midst of a strategic push into consumer banking,...
