Small business lending

Many sellers are ditching the loans to avoid the cumbersome forgiveness process. For others, the Paycheck Protection Program was never a strategic fit.

The owner of The Shuckery in Petaluma, Calif., says she was unable to get a Paycheck Protection Program loan until she responded to an email from the delivery service and BlueVine.

The global pandemic and stalled trade negotiations have discouraged farmers and ranchers from taking on more debt and made banks uneasy about extending more credit.

Along with the assets-under-management milestone, Michigan Business Connection noted that its partner credit unions have financed more than 1,000 Paycheck Protection Program loans.

Besides reauthorizing the Paycheck Protection Program, Congress should upgrade the loan forgiveness process, offer businesses the chance to take out a second loan and ensure the pricing satisfies lenders, bankers say.

Over 90% of loans from CUs in the Empire State are eligible for forgiveness using the $150,000 threshold.

The company falsely advertises its cash advances as requiring no collateral or personal guarantee, according to a lawsuit filed by the Federal Trade Commission.

The legislation proposed by Rep. Nydia M. Velázquez, D-N.Y., goes further than recent state efforts to require better disclosures for high-cost lenders, but it would face an uphill battle in the GOP-controlled Senate.

This personal funding has blurred the line between personal and business finances more than ever.

Now that its deal with Texas Capital has been called off, Independent Bank in McKinney plans to scale back or exit some commercial lines and will seek to duplicate its retail banking successes in Colorado.

The pioneering online lender had long struggled to live up to the hype that drove its early growth, even before the pandemic pushed it to the brink.

The streaming service is taking out a two-year certificate of deposit with Hope Credit Union, which plans to use the funding to provide credit to communities often overlooked by mainstream banking.

The company's foundation, whose mission had been carefully planned by BB&T and SunTrust before their merger, opened just nine days before the novel coronavirus was declared a pandemic. Here’s what happened next.

The pressure is on the fintech, which helps banks make digital loans, to stanch its losses and show its lofty market valuation was deserved.

Similar to a law passed two years ago in California, legislation headed to the New York governor’s desk would require fintech and other nonbank lenders to uniformly disclose total cost of capital, APR and other metrics to potential borrowers.

A new Small Business Administration notice explains what steps lenders must take to seek approval of their forgiveness decisions under the Paycheck Protection Program. But lenders say lawmakers and regulators must do more to cut red tape.

Many bankers want to focus more on the forgiveness process, assessing the status of deferrals and pursuing traditional lending opportunities.

The report from the commission created to monitor the government's response to the pandemic comes as Congress begins negotiations over another round of stimulus.

On Mar. 31, 2020. Dollars in thousands.

Treasury Secretary Steven Mnuchin did not define "small," but advocates have been urging Congress to convert all Paycheck Protection Program loans of less than $150,000 into grants.