Wells Fargo said it wants to help more with the federal government’s programs to disburse $350 billion in loans via the Paycheck Protection Program (PPP). But to do that, the bank may have to have its asset cap, placed there by law after a fake accounts...
Plaid, a startup being acquired by Visa, wants to help money get to those who need loans faster. To do so, it’s attacking the problem of how long it takes to acquire payroll data, according to a report by CNBC. According to Plaid, payroll data...
Amid processing and technology challenges that are holding back payments, the U.S. government’s $350 billion small business rescue program began its fourth day on Monday (April 6). Lenders faced loan requests in the thousands, as they encountered difficulties with tech access and changing paperwork, Reuters reported....
Wells Fargo announced it will begin taking loan applications on Monday (April 6) as part of the Paycheck Protection Program (PPP) and will disperse $10 billion to nonprofits and businesses with fewer than 50 employees. The country’s fourth-largest bank said it has received a lot...
Switzerland is in the midst of an economic surge compared to other coronavirus-ravaged countries, with fast and efficient loans making the difference, experts say. Applicants trying to get loans from Swiss institutions have a remarkably easy time of it compared to many comparable countries. Stories...
Financial regulators have made $500 billion in capital available for lenders around the world, which gives lenders the freedom for another $5 trillion of loans around the world to go toward cushioning the blow the coronavirus has dealt to the world’s economy. The relaxing of...
Call it a bumpy beginning — and that’s a charitable statement. Friday, banks and other lenders officially opened the gates for applications to the Paycheck Protection Program (PPP) to relieve some of the burden brought on by the coronavirus pandemic. But as might be expected...
JPMorgan, one of the nation’s largest lenders, started accepting applications for loans from the federal government’s Paycheck Protection Program (PPP) on Friday (April 3), according to Reuters. The news service said the announcement was posted on the bank’s website. This development is a change from...
The lifeline for the small businesses that make up the backbone of the U.S. economy is now there for the taking. But is the $350 billion enough – or too little? It may certainly be too late, at least for some of the hardest-hit and...
