The U.S. Senate passed a bill Tuesday (June 3) amending the way the Paycheck Protection Program (PPP) works, extending the time for small- to medium-sized businesses (SMBs) to use the money from eight weeks to 24 weeks, CNN reported. Get the Full Story Complete the...
Two Republican Senators are holding up a bill that would extend the end date of the Paycheck Protection Program (PPP) from August until December, Roll Call reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all...
The Consumer Bankers Association and Bank Policy Institute, in a co-signed letter, have called on Congress to automatically forgive Paycheck Protection Program (PPP) loans under $150,000. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content...
One of the few bright spots in the nation’s ailing economy is the housing market. Fueled by the lowest home loan rates in the nation’s history, mortgage applications increased 18 percent for the week ending May 29 compared to the same week one year ago,...
The coronavirus has idled all sorts of lending, as banks and other financial services firms eye consumers with wariness. Unemployment, after all, has skyrocketed, indicating that household cash flow is dicey, and remaining current on debt might not be top of mind. Get the Full Story...
Wells Fargo will no longer be giving loans to independent auto dealers, according to a report from CNBC. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to...
If their business borrowers close or have trouble recovering following coronavirus lockdowns, nonbank lenders might have to raise capital. Business development companies (BDCs) that lend to small and medium-sized businesses (SMBs) have quickly grown over the last 10 years and Refinitiv data indicates that total...
A minimum of $20 billion in Paycheck Protection Program (PPP) loans have been canceled — many by small businesses afraid they can’t spend the money in ways that will qualify for loan forgiveness, calculations of Small Business Administration (SBA) data by Bloomberg found. SBA reports indicate $510.5...
The U.S. Securities and Exchange Commission (SEC) has launched an investigation into publicly traded companies that received COVID-19 stimulus funds, Bloomberg News reported. Get the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no...
