Delinquent PPP loans are on the rise. Here's what it means for businesses. - Phoenix Business Journal

  • 📰 phxbizjournal
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The pace of PPP forgiveness has slowed in recent months. The number of delinquent loans it has purchased has more than doubled.

What happens to delinquent PPP loans?

After 60 days of nonpayment, PPP lenders can submit those loans to the SBA for purchase, and the lenders will be made whole. back in May that, while she did not know exactly how many PPP loans the agency will end up having to purchase from lenders if businesses don’t make payments, the agency was ready to handle them.

According to lawmakers and supporters of rescinding the rule, the average good faith error with the program is more than $12,000 — a significant amount for many small businesses.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 254. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Delinquent PPP loans are on the rise. Here's what it means for businesses. - Dallas Business JournalThe number of delinquent PPP loans has more than doubled since the summer. Here's what that means for borrowers, the SBA and small businesses.
Source: DallasBizNews - 🏆 525. / 51 Read more »

Delinquent PPP loans are on the rise. Here's what it means for businesses. - Dallas Business JournalThe number of delinquent PPP loans has more than doubled since the summer. Here's what that means for borrowers, the SBA and small businesses.
Source: DallasBizNews - 🏆 525. / 51 Read more »

Valley salary growth: Here's how the local pay picture is evolving - Phoenix Business JournalPay is still rising, but the pace of wage growth is starting to slow nationally after a frantic year. Here's what's happening in Arizona.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Here are Niche's top public schools in the Phoenix metro - Phoenix Business JournalSix Phoenix-metro schools are among the top 100 public high schools in America, according to the 2023 list from education data platform Niche.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Nikola Corp. makes big purchase in Phoenix metro for potential expansion - Phoenix Business JournalWhile the auto manufacturer has mainly produced battery electric vehicles, it has also produced several alpha prototypes of its fuel cell electric vehicles, which run on hydrogen.
Source: phxbizjournal - 🏆 254. / 63 Read more »

Lincoln Property Co. Desert West sees significant uptick in midsize office leasing - Phoenix Business Journal'There is some 'rightsizing' that is occurring but it's not necessarily the driving factor, at least from what we've seen from when we're showing space,' LPC Vice President John Orsak said. phoenix
Source: phxbizjournal - 🏆 254. / 63 Read more »