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The PPP represents an extraordinary step to solve an unprecedented challenge faced by small businesses, and banks that act decisively in deploying PPP loans stand to earn new clients and goodwill from regulators, as well as a slice of billions in loan fees. Though the PPFA was enacted to alleviate concerns around the program and revitalize demand, the continuous revision of guidelines likely had the opposite effect in making it harder for businesses to understand requirements. Still, banks made significant headway toward approving smaller loans in the program's second round.
New Jersey-based Cross River was by far the smallest bank among top lenders, managing to lend an astounding 215% of its total assets. The community bank's impressive performance was supported by its partnerships with fintechs such as Kabbage and QuickBooks.
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U.S. lawmakers, Bank of America press small business agency to fix PPP lending dataBank of America Inc , the second-largest U.S. lender, has asked the Trump administration to correct data meant to offer public accountability on the recipients of $520 billion in pandemic aid designed to preserve jobs, and a group of U.S. Democratic lawmakers has written to demand action before more funds are distributed. The 30 lawmakers outlined a series of 'grave concerns' about errors in the data for the Paycheck Protection Program (PPP) in a letter on Monday to the Small Business Administration, asking that the agency 'rectify these issues promptly,' according to a copy of the letter viewed by Reuters. Locking for Creative Eye-Catching Business card design at a very affordable price? Check Out: 此 The SBA is crooked and inept.
Källa: Reuters - 🏆 2. / 97 Läs mer »
GOP ‘HEALS Act’ Proposal Allows Small-Business Loans to Cover Protective GearPlus, Chrissy Teigen has another food show coming to Quibi, and more news to start your day
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Florida man charged for using coronavirus PPP funds to buy Lamborghini - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. iTAT_uPAY Sentences should be doubled for idiots like this. The man has good taste
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Small Business Focus: Care Bears boost Florida toy importer, but he needs $10 million right awayFlorida's Basic Fun has seen a sharp pickup in business since coronavirus shutdowns started lifting in May, but the toy importer needs more cash to buy goods for the Christmas shopping season. good for you. lol I have trouble with a story where someone needs '10 million right away' when millions of small businesses are a few thousand away from failing 10 million could save hundreds of local small businesses from closing up SmallBusiness failure America Canada COVID19
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Democrats raise red flags on GOP small business plan as Biden weighs inDemocrats are gearing up to push for changes to a small business aid plan pitched by Republicans as part of the latest economic relief package, as Joe Biden called for major new investments in firms owned by people of color Open more small businesses owned by PoC so the rioters have something to burn down. Interesting photo. The female senator, a Democrat, is protecting the male senator, a Republican, by wearing a mask. The male senator, in this case marcorubio, cares about no one but himself.
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Small-Business Disaster Relief Program Target of Fraud, Watchdog SaysThe federal government’s disaster loan and grant program for small businesses has been subject to more than 5,000 complaints of suspected fraud from lenders, a watchdog agency warned Tuesday as it called for closer oversight of the program. I wish banks cared this much about their own fraudulent ways If that Lamborghini Florida man is subject to arrest, you should def incarcerate Gerberkawasaki for using loans to buy $NFLX right before ER. Guilty on two counts - 1) stuPPPidity, 2) accounting fraud cc: thestinkmarket Nooooo! Fraud really?!
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