Paycheck Protection Program

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.

Greater Nevada Credit Union, like a number of community banks, agreed to sell its Paycheck Protection Program loans to avoid having to navigate the complicated forgiveness process.

A growing number of lenders are unloading loans made through the Paycheck Protection Program.

The Senate will consider Kyle Hauptman’s nomination to the NCUA board on July 21, while new data from the SBA details credit unions’ participation in the Paycheck Protection Program

A Bloomberg News analysis shows that the data for Paycheck Protection Program loans totaling more than $521 billion released on July 6 are riddled with anomalies.

For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program.

For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program.

After tech firms assisted community bankers in processing applications in the Paycheck Protection Program, small-business lenders are continuing to engage with cloud providers and other outside companies to automate the loan forgiveness process.

Paycheck Protection Program loans were out of reach for the myriad of cash-based enterprises or underfunded businesses that are key to economic growth in the country. This could change the very fabric of New York City, with businesses that were part of people's everyday life disappearing.

The company has established a fund that will provide capital, technical assistance and long-term recovery support to small businesses, especially minority-owned companies. The other megabanks are expected to donate their fees, also.

The German bank agreed to pay $150 million to New York State for its dealings with Jeffrey Epstein; the new tool will help lenders determine which borrowers are in the best shape to weather a crisis.