Small business lending

The industry has always been somewhat reluctant to participate in Small Business Administration lending, but that could change if the agency manages the Paycheck Protection Program well going forward.

The central bank and other agencies have come under pressure to be transparent about their use of funds authorized by the recent pandemic rescue law.

Lawmakers should approve a program to distribute stimulus funds using a government-sanctioned coin, which would be speedier than the current system.

A backlog has formed since the first round of Paycheck Protection Program funding dried up, threatening to further strain a platform that struggled to handle the initial workload.

The program, created in response to the 2008 financial crisis, generated $19 billion in small-business loans. It could be used as a viable path out of the coronavirus pandemic.

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.

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.