-
Bankers said legislative fixes to the small-business rescue program should help more borrowers secure loan forgiveness, though new demand will likely remain tepid because the process is still extremely cumbersome.June 5 -
The program is intended to aid businesses hit hard by pandemic-induced lockdowns, but lenders are lobbying to have the rules relaxed to help owners of stores and offices damaged by recent riots and looting.June 2
-
Many lenders are paying close attention to liquidity and capital ratios. Others are trying to avoid overtaxing employees who process, service and handle forgiveness of the loans.May 29
-
The website, ppp.bank, will help borrowers in the Paycheck Protection Program apply for loan forgiveness.May 28
-
The agency has responded to the American Bankers Association's legal request to strike down expanded membership rules for credit unions.May 27
-
University Bancorp decided to shutter its wholesale mortgage lending business after it struggled to hire and train employees remotely.May 27
-
The Small Business Administration gave lenders some direction for closing out Paycheck Protection Program loans. Bankers say it's an encouraging start, but they want more protection from liability and a concession on nonpayroll expenses.May 20
-
The sellers will continue to service the loans and retain the fees they receive from the Small Business Administration.May 20
-
Mike Maddox will succeed George Jones on June 1.May 19
-
Triad Business Bank in North Carolina, which opened in March, has made $106 million in Paycheck Protection loans.May 17
