The race is on. The Small Business Administration (SBA) is set to take applications for the second round of the Paycheck Protection Program (PPP) as of 10:30 a.m. on Monday (April 27). President Donald Trump signed the $484 billion COVID-19 rescue bill on Friday (April 24). It includes...
As the Paycheck Prevention Program (PPP) reopens on Monday (April 27) with $310 billion, Bank of America (BoA) chief executive officer (CEO) Brian Moynihan said he thinks Congress should make the assistance big enough to help all small businesses. “It’s clear that between Congress, the...
While some of the more than 200 publicly traded companies that received funds from the Paycheck Protection Program (PPP) agreed to return the millions of dollars they received after backlash, many are keeping the money, asserting that it will be used for paying furloughed employees,...
Banks in the U.S. are taking a cautious approach when it comes to extending loans to businesses in Europe, according to the Financial Times. The coronavirus pandemic has caused big banks like JPMorgan, Goldman Sachs and Bank of America (BoA) to reduce the size of...
Representatives from Colorado and Oregon, states known for liberal cannabis laws, want the cannabis industry to be included in future Paycheck Protection Program (PPP) legislation. Reps. Earl Blumenauer (D-OR) and Ed Perlmutter (D-CO) introduced legislation this week to ensure that that happens, allowing cannabis companies...
Banks are sounding the alarm that the upcoming funding round for the federal Paycheck Protection Program (PPP) is likely already tapped. “The majority if not all of the funding Congress is considering right now is already exhausted,” Nick Simpson, a spokesman with the Consumer Bankers...
The Treasury Department issued new guidance on Thursday (April 23) directing publicly traded companies to return Paycheck Protection Program (PPP) loans by May 7 if they can’t prove they were eligible for a loan. Public backlash has been building as it was revealed that public...
The rollout of the Paycheck Protection Program (PPP) aimed at small- to medium-sized businesses (SMBs) has, by any account, been a wild ride to date. As PYMNTS has reported in its weekly series of conversations with Ingo Money CEO Drew Edwards and Planters First Bancorp...
The House of Representatives on Thursday (April 23) passed a $484 billion bill for more financial aid for small- to medium-sized businesses (SMBs) and others amid the coronavirus pandemic, according to The Wall Street Journal. Clad in masks, lawmakers passed the bill by a vote of...
