Commercial lending

Stress and exhaustion are catching up to lenders and call center employees helping customers grapple with the coronavirus pandemic.

Square Capital and other online lenders joined the Paycheck Protection Program just before it ran out of money. Now they’re ready and waiting for Congress to reload funds that could be better aimed at the smallest companies.

State and federal trade associations are calling on lawmakers to move past an impasse after the Paycheck Protection Program ran out of money in just two weeks.

The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.

The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.

Legislation announced Wednesday would allow credit unions to make coronavirus relief loans to businesses without fear of bumping up against the member business lending cap.

The biggest lenders seem to have handled the corporate rush for cash heading into the economic shutdown caused by the coronavirus pandemic. But their ability to collect is as uncertain as the economic outlook for the next year.

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.

Net income fell 46% in the first quarter as the company added nearly $5 billion to its loss reserves in anticipation of a wave of loan defaults.

With the coronavirus pandemic bringing economic activity to a virtual standstill, BofA, like Wells Fargo and JPMorgan Chase, is shoring up its reserves to brace for a likely recession.