Small Business Administration
PPP Reopens With $284B for Small Business Loans
The revamped COVID-19 relief program also allows some companies to apply for a second draw of up to $2 million.
Court Orders Release of PPP Borrower Details
The decision was a victory for media organizations that sued the SBA for access to data about roughly $600 billion in COVID-19 loans to small businesses.
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.