SBA

The sellers will continue to service the loans and retain the fees they receive from the Small Business Administration.

The government's latest stimulus package cleared the House on Friday but a number of key credit union priorities didn't make the cut.

A small Texas company that profits from loan applications is using a web address so similar to the Trump administration's portal for small businesses that even Treasury Secretary Steven Mnuchin pitched the wrong one when outlining a pandemic-aid program.

Triad Business Bank in North Carolina, which opened in March, has made $106 million in Paycheck Protection loans.

The agencies produced an application process that includes favorable interpretation of qualifying expenses.

The agency said Wednesday that as long as small businesses return funds they received through the Paycheck Protection Program, no action would be taken.

The move is the first time the bank has provided services to digital currency players; the Washington Post and four other heavy hitters want details on PPP and small business disaster loan programs.

The agency said without further action banks' participation in coronavirus relief programs could inflate their deposit insurance assessments.

SBA Express has existed for years, but its new $1 million cap could prove helpful to small businesses that need funds for more than just payroll expenses.

The agency is being methodical in its rollout of the Main Street Lending Program in hopes of avoiding missteps that followed the launch of other coronavirus relief efforts. But observers say delaying aid brings its own risks.