Small Business Administration
Wells Fargo Fires Over 100 Employees for Alleged COVID-19 Relief Fraud
The bank’s internal investigation found up to 125 employees applied for relief intended for small businesses.
Will There Be a Second Round of Paycheck Protection Loans?
Under proposed legislation, smaller businesses would be targeted, and they would have to show a 50% revenue drop.
New Bill Offers Second Loans to PPP Borrowers
“Congress must once again act urgently to support our most vulnerable small businesses through this crisis."
SBA Clarifies PPP Loan Guidelines Amid Uproar
New guidance from the SBA comes after a public outcry over large companies receiving hundreds of millions of dollars in loans.
SBA Programs Hurt by Shutdown
The government shutdown, now in its 28th day, is creating a backlog of loan approvals.
SBA 7(a) Program Runs Out of Money
But Rep. Nydia M. Velázquez has introduced legislation to raise the small business loan guaranty limit to $23.5 billion.
Small, Midsize Firms Favor Bank Loans for Capital Needs
Nearly 80% are unfamiliar with crowdinvesting and other new avenues for private financing.
SBA Approves Record $19B in 7(a) Loans
The number of approved government-backed loans also rose, to 52,044, up 12%.
SBA Extends Fee Relief on Small-Dollar Loans
Working capital loans of $150,000 or less will incur no upfront guaranty fee or annual servicing fee.
SBA Expands Loan Access
A new Small Business Administration rule will make it easier for companies to secure government-backed loans.
Sunny Days in the Shadows for Nonbank Lenders
Business development companies are thriving at middle-market lending. Should regulators be worried?