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A Treasury Department program that supplies credit to small businesses spurred $1.9 billion in loans and created or saved 53,000 jobs in its first 18 months of operation, the department says.
September 27 -
A Small Business Administration program intended to give veteran-owned companies easier access to loans has come under fire for high default rates that have cost taxpayers over $31 million.
September 20 -
The rate at which banks approved small-business loans rose in August, as large banks approved the highest percentage of loan applications since the financial crisis began.
September 10
JPMorgan Chase (JPM) is launching a new program to support small businesses, with help from Google.
The bank's Mission Main Street Grants program, announced Tuesday, will award 12 grants worth a total of $3 million to businesses across the U.S., the company said. Google, the chief sponsor of the program, will provide each company awarded a grant with tools to build their social-media operations and with a special advertising offer. Additionally, each company given a grant will be eligible to take part in a Google small-business workshop.
Companies that have been in business for two years or more and have fewer than 100 full-time employees are eligible for the $250,000 grants. Facebook users can vote for the applicants, and the winners will be selected by a 12-member panel drawn from various businesses and national organizations. The application period runs through the end of October, and JPMorgan Chase will announce the winners in the beginning of next year.
"Chase's commitment to small business is a long-term investment through products, services and Mission Main Street Grants, so small businesses can take big steps for their business and community," said Donna Vieira, Chase Business Banking's head of marketing, in the news release.
