Capital and Risk, Credit, Regulations
March 19, 2024
Via: Banking DiveTwo fintechs, Biz2Credit and Womply, agreed to pay a collective $59 million to settle allegations they deceived small businesses seeking Paycheck Protection Program loans during the COVID-19 pandemic, the Federal Trade Commission said Monday. Biz2Credit and its subsidiary, Itria Ventures, […]
Activity, Capital and Risk, Corporate Banking, Credit
September 20, 2023
Via: Bank DirectorCommunity banks have long played a pivotal role in supporting small businesses, providing the necessary capital for local entrepreneurs growing or expanding their ventures. It is estimated that community banks account for approximately 60% of small business loans, according to […]
Activity, Capital and Risk, Corporate Banking, Credit
December 8, 2020
Via: Banking DiveAs lawmakers debate a new stimulus package, including the possibility of a new tranche of Paycheck Protection Program (PPP) funding, banks that delivered large volumes of PPP loans this year may find themselves better prepared for a third rollout. For […]
May 6, 2020
Via: CNBCStates enduring the brunt of the coronavirus crisis are receiving a smaller proportion of emergency small business loans than some Mountain and Midwest states, according to analysis conducted by the Federal Reserve. “In New York, the epicenter of the coronavirus […]
Capital and Risk, Credit, Regulations
April 28, 2020
Via: Market WatchThe Trump administration will audit small-business loans above $2 million, U.S. Treasury Secretary Steven Mnuchin said Tuesday, as he warned of criminal liability for companies who improperly got government cash. “It’s the borrowers who have criminal liability” if they made […]
April 2, 2020
Via: Bank InnovationRepresentatives for venture-backed startups are pushing for the companies to get access to $349 billion in small business loans authorized by Congress as part of its economic relief plan for Covid-19. So far it appears that many such businesses won’t […]
July 11, 2024
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