Paycheck Protection Program

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.

Community bank earnings are usually easy to understand, but loan deferrals and modifications as well as the complexities of the Paycheck Protection Program are skewing financial statements.

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

The Senate Banking Committee will vote this week on Kyle Hauptman's nomination to the NCUA board while the full chamber continues to debate additional coronavirus relief measures.

Government stimulus programs are buoying consumers hurt by the coronavirus shutdown; the bank has been forced to sell loans to stay within the Fed-imposed $1.95 trillion asset cap.

Bankers are left wanting after details on PPP forgiveness plan emerge; why OnDeck is being sold on the cheap; Fannie, Freddie to face banklike liquidity standards starting Sept. 1; and more from this week’s most-read stories.

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

Lenders faced sudden high demand in the crisis to support stressed borrowers. One bank details how it built a digital portal swiftly to meet that challenge.

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

The three-month extension for the central bank's lending programs is one of several recent steps by policymakers to stabilize the economy as the coronavirus pandemic stretches through the summer.

The Senate Republicans' coronavirus relief package, known as the HEALS Act, would continue to make the loan program available to businesses, but any final bill would need to be negotiated with House Democrats.

The Senate Republicans' coronavirus relief package, known as the HEALS Act, would continue to make the loan program available to businesses, but any final bill would need to be negotiated with House Democrats.

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.

The online lender has already branched out into facilitating payments and analyzing cash flow for small-business customers. Its new checking account is meant to round out those services.

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

The Georgia company warned that outstanding loans could fall and deferrals will likely rise as its home state and Florida grapple with the pandemic.

Loans to retailers and hotels are at the highest risk of default, the Salt Lake City company said in its second-quarter earnings presentation.

Government stimulus efforts, including the Paycheck Protection Program, have fueled a deposit surge. The challenge for banks is figuring out how to put that new money to use.

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.