Commercial lending

Small banks are a lifeline for many local businesses and should be given first crack at distributing funds from a continuation of the federal stimulus program.

John Pitts, policy lead for Plaid, has some ideas to ensure Paycheck Protection Program legislation set to be voted on this week targets the companies most in need of a cash infusion.

Rather than selling off assets at a steep discount, the Dallas company is considering taking equity positions in energy firms struggling to make loan payments in the wake of collapsing prices.

The SBA’s Paycheck Protection Program is nearly depleted, but there are ways small banks and fintechs, with help from Congress, can remedy the situation.

Lawmakers are considering a plan to reserve Paycheck Protection Program funds for lenders with $50 billion in assets or less, a figure that would include nearly all credit unions.

Bank of America and U.S. Bancorp were also named in a lawsuit filed in Sunday in which the banks are accused of prioritizing large loans distributed through the Paycheck Protection Program in order to maximize fees.

Lawmakers are considering a plan to reserve at least $50 billion in Paycheck Protection Program funds for customers of community banks and small regionals.

From stimulus checks to the Paycheck Protection Program, the government’s infusion of cash into an economy reeling from the coronavirus pandemic has primarily helped those who already strong banking relationships.

Congress won’t be back to Washington for at least two weeks but credit unions already have a laundry list of requests for lawmakers to consider.

The two sides say a deal to replenish the small-business loan program may be reached for a Senate vote early this week; big restaurant chains said to edge out small firms for loans.