Tag Archives: small businesses

Biz2Credit Small Business Lending Index™ Reveals Loan Approval Rates Continue to Rise in February

Get instant alerts when news breaks on your stocks. Claim your one week free trial for StreetInsider Premium here. NEW YORK, March 15, 2022 (GLOBE NEWSWIRE) — Small Business Loan Approval Percentages at big banks ($10+ in assets) went from 14.5% in January to 14.7% in January, and small banks‘ Approvals also increased, from 20.3% […]

Inside the fight for banks to benefit their communities • Sacramento News & Review

As banks continue to merge, advocates are trying to ensure low-income communities won’t have to pay for it. By Robin Urevich, Capital & Main This story is produced by the award-winning journalism association Capital and main and co-published here with permission. At a time when big banks are easily getting approval for profitable mergers, some […]

Average Small Business Loan Size

Owning a business can be expensive and unexpected expenses tend to arise. For small business owners who need additional funds, small business loans could be a great option. There are many factors to consider when choosing a small business lender, such as eligibility requirements, loan amount options, and repayment terms. Small business owners can also […]

Ida Disaster Loan Application Deadline Approaches |

Connecticut businesses can apply for a physical disaster loan of up to $2 million for damage caused by Hurricane Ida through Jan. 28. The US Small Business Administration extended initial deadlines for businesses, private nonprofit organizations, landlords and tenants earlier this month. Hurricane remnants affected people across the state in the first two days of […]

Why small business loan approval rates are climbing at a snail’s pace

Although the approval percentages of banks and non-bank lenders (institutional lenders, alternative lenders and others) have risen steadily over the past 12 months, the rebound in small business lending is far from robust. Bank vault. (Photo by Dick Whittington Studio/Corbis via Getty Images) Corbis via Getty Images According to the latest Biz2Credit Small Business Loan […]

Biz2Credit Small Business Lending Index ™ for December finds loan approval rates continue to rise, but at a slow pace

Approval percentages at large banks, small banks, institutional lenders, alternative lenders and credit unions are still about half of what they were in December 2019 NEW YORK, January 11, 2022 (GLOBE NEWSWIRE) – Small business loan approval percentages in big banks ($ 10 + in assets) fell from 14.2% in November to 14.3% in December, […]

SMBs Demand Faster Loan Approval: RazorpayX Study

SMBs Demand Faster Loan Approval: RazorpayX Study New Delhi, January 11 (KNN) According to a study by RazorpayX, one in two small businesses agree that limited resources and lack of knowledge are the two biggest challenges to their digital transformation aspirations. According to their findings, more than 50% of SMEs are asking for easier and […]

Small business loan approval as a business loan applicant – NewsGram

By Aakshit Rajput Small businesses need financing to grow. And getting funds for your business can seem like a big challenge. Well that was the truth a few decades ago, but now small business loans are one of the simplest financial tools available to you. Through several government initiatives to stimulate local businesses and innovative […]

Small business loan approval rates continue to trend upward among all lenders

Small business loan approval rates at major banks continued their upward trend, from 14.1% in October to 14.2% in November. Biz2Credit Small Business Lending Index Report – November 2021 The data comes from the last Biz2Credit Small Business Loan Index. Increase in loans to small banks Besides the increase in small business loans from the […]

New legislation would simplify the EIDL loan application process for small businesses

The EIDL rationalization law is a bipartisan bill introduced to the US Senate to improve the Economic Disaster Loan (EIDL) application process as well as to combat fraud in the program. The goal is to simplify the process so that small businesses can get their requests answered quickly and efficiently. New legislation would simplify the […]

Sense. Risch and Hickenlooper Introduce Bill to Improve Disaster Loan Application Process

U.S. Senators Jim Risch (R-ID) and John Hickenlooper (D-CO) introduced legislation to improve the disaster loan application process and fight fraud. © Shutterstock The EIDL Streamlining Act to Improve Economic Disaster Lending (EIDL) would require the Small Business Administration (SBA) to review EIDL’s application submission process. Additionally, it would require the SBA to submit a […]

SBA Covid-Relief Loan Application Deadlines Approaching — Dec. 31 – Councilor Forbes

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. If your business is still looking for financial relief due to the Covid-19 pandemic, now is the time to act. The deadline for specific US Small Business Administration (SBA) loans will be […]

Biz2Credit Small Business Lending Index ™ for November Finds Loan Approval Rates Continue to Rise at Banks and Non-Bank Lenders

The approval percentages of large banks, small banks, institutional lenders and alternative lenders are increasing; Credit unions stagnate in November NEW YORK, December 8, 2021 (GLOBE NEWSWIRE) – Small businesses loan approval percentages To big banks (assets over $ 10 billion) fell from 14.1% in October to 14.2% in November. During this time, small banks” […]

Biz2Credit Small Business Lending Index ™ for October Finds Loan Approval Rates Rise at Banks and Non-Bank Lenders for Sixth Month in a Row

Enter Wall Street with StreetInsider Premium. Claim your 1-week free trial here. NEW YORK, November 09, 2021 (GLOBE NEWSWIRE) – Small businesses loan approval percentages To big banks (assets over $ 10 billion) fell from 14% in September 2021 to 14.1% in October. During this time, small banks” approvals also fell from 19.5% in September […]

13th month payday loan application window starts November 2

SMALL ENTERPRISES interested in zero-interest loans to help them achieve their 13e the monthly payroll could start to apply on Nov. 2, Small Business Corp said. (SB Corp.). SB Corp. spokesman Robert Bastillo said in a briefing at Laging Handa on Thursday that micro and small businesses have Nov. 2 to Dec. 2. 7 period […]

How to recover from a rejected loan application?

Everyone should have proper financial planning that allows them to meet expenses and grow savings. Such a type of financial planning also allows people to invest in the right area and make maximum profit. But since life is full of unforeseen events, you may have to deal with unforeseen expenses at some point in your […]

SBA officials hold seminar in Kenner, as loan application deadlines approach

FIVE ALMTOS TWO MONTHS AFTER HURRICANE IDA MANY OF YOU ARE TELLING YOU THAT RECOVERY DOESN’T HAPPEN QUICKLY SOME PEOPLE GOT THESE TAYOD FRUSTRATIONS IN KENNER AND ALONG THE WAY THEY LEARN ANOTHER WIRHE MAY HAVE IT FROM WDSUENS LIVE HARRISON TO GOLDSE THE TRADE ADMINISTRATION GIVEN HARRISON SOME ESSENTIAL ADVICE THAT PEOPLE ARE LOOKING […]

Rising small business loan approval rates at all financial institutions

Small business loan approval rates at large banks fell from 13.9% in August 2021 to 14% in September. Small bank approvals also fell from 19.3% in August to 19.5% in September. The data comes from the latest Biz2Credit Small Business Lending Index. Biz2Credit Small Business Loan Index – September 2021 The raise of loan approval […]

Mudra Yojana: MSMEs disbursed nearly 100% of sanctioned loan amount in first half of FY22, government data shows

Out of Rs lakh 1.13 crore involved in sanctioned 2.03 crore loans, Rs 1.07 lakh crore loans were disbursed from April 1 to October 8. Credit and financing for MSMEs: Credit disbursements by public and private lenders, small finance banks, non-bank financial corporations and other credit institutions under the Mudra loan program amounted to 95% […]

Biz2Credit Small Business Lending Index ™ for September sees loan approval rates increase at banks and non-bank lenders for fifth consecutive month

News and research before you hear about it on CNBC et al. Claim your 1-week free trial for StreetInsider Premium here. NEW YORK, October 12, 2021 (GLOBE NEWSWIRE) – Small businesses loan approval percentages To big banks (assets over $ 10 billion) fell from 13.9% in August 2021 to 14% in September. During this time, […]

Small businesses got emergency loans, but not what they expected

For nearly 70 years, the Small Business AdministrationThe disaster relief program has helped businesses recover from disasters such as wildfires, hurricanes and earthquakes. But he’s never been faced with anything like the coronavirus crisis. Besieged by over eight million candidates – and operating in the shadow of the hastily assembled Paycheck Protection Program – The […]

Is the Municipal Bank of Los Angeles project a good idea? – Daily News

Last week, the Los Angeles City Council’s Economic Development and Employment Committee approved a motion in favor of the Municipal Bank of Los Angeles. It’s a bad idea. Proponents confuse lending with spending. The bank is backed by a variety of special interest groups – but there is no transparency. No information on funding from […]

Biden signs bill to curb predatory lending

Over the past few years, consumer credit protections have weakened due to a series of harsh attacks that have either dismissed outright or drastically reduced financial safeguards in the marketplace. But another consumer victory, spurred on by an outpouring of support from ordinary people, academics and bicameral lawmakers, signals an important step toward fair financial […]

Biz2Credit: Loan Approval Rates Rise at Banks and Non-Bank Lenders in August

Small business loan approval percentages in large banks (over $ 10 billion in assets) fell from 13.8% in July 2021 to 13.9% in August, up three tenths of a percentage from a year ago. Meanwhile, approvals of small banks also fell from 19.1% in July to 19.3% in August, according to the latest Biz2Credit Index […]

Biz2Credit Small Business Lending Index ™ for August Finds Loan Approval Rates Rising at Banks and Non-Bank Lenders

NEW YORK, September 14, 2021 (GLOBE NEWSWIRE) – Small businesses loan approval percentages To big banks (over $ 10 billion in assets) fell from 13.8% in July 2021 to 13.9% in August, up three tenths of a percentage from a year ago. During this time, small banks” approvals also fell from 19.1% in July to […]

NAB Announces New Loan Terms To Boost Small Businesses

In a first for the Australian market, NAB announced today that it will provide qualifying small businesses across the country access to apply for business loans with loan terms of up to 30 years for a maximum of $ 2 million. The application process uses only digitally captured self-reported financial data and will have longer […]

Small Business Loan Approval Rates Rise at Big Banks

From June to July 2021, small business loan approvals at large banks fell from 13.6% to 13.8%. The data comes from the latest Biz2Credit Small Business Lending Index. The index also signals an increase in loan approvals from institutional and alternative lenders in July. Biz2Credit Index of Small Business Loans – July 2021 The increase […]

Biz2Credit: Small Business Loan Approval Rates Rise at Banks in July

According to Biz2CreditAccording to the latest Small Business Lending Index, small business loan approval percentages at large banks (over $ 10 billion in assets) fell from 13.6% in June to 13.8% in July, reaching the same percentage as last July. At the same time, approval rates for small banks also increased, from 18.9% in June […]

Biz2Credit Small Business Lending Index ™ Finds Loan Approval Rates Rise at Banks, Institutional and Alternative Lenders in July 2021

Receive instant alerts for news on your actions. Claim your 1-week free trial for StreetInsider Premium here. NEW YORK, August 10, 2021 (GLOBE NEWSWIRE) – Small businesses loan approval percentages To big banks (over $ 10 billion in assets) fell from 13.6% in June 2021 to 13.8% in July, the same percentage as a year […]

Contracts Speed ​​Up Mortgage Approval Rates for Small Businesses

Two recent stars of Little Rock Venture Center’s Community Banking Accelerator Program continue their efforts in securing federal contracts that make it easier to approve small business and home loans. Springdale’s Teslar Software reports that its banking technology supported more than 20% of paycheck protection program loans issued by community financial institutions this year. The […]

Consider these tips before clicking Submit

You have bold plans and you want the bank to lend you money to help you realize your business idea. Obviously, going to the bank with a solid business plan is important, but what does it actually look like? And what other factors matter in getting you approved or rejected for a business loan? Bendigo […]

Submitting an SBA Loan Application Could Bring More Assistance to FEMA Grants

BATON ROUGE, Louisiana – The US Small Business Administration (SBA) loan application offers many benefits to disaster survivors seeking federal assistance. An applicant who is referred to the SBA during the initial FEMA application process must complete an SBA loan application. Submitting a loan application keeps the full range of optional disaster assistance available. SBA […]

Government eases loan conditions for tourism businesses

The government recently relaxed lending conditions for tourism businesses to encourage more micro, small and medium enterprises to benefit from the loan program. In a statement, the Department of Tourism (DoT) said that under the relaxed terms of the Business Restart Assistance Program (Cares) for Coronavirus Disease 2019 (Covid-19), the grace period for the repayment […]

PPP Closures and Rising Approval Rates for Small Business Loans

The Paycheck Protection Program (PPP) provided many small businesses with much-needed funds during the pandemic, but the program has now ended. And it’s going to force business owners to go back to the funding sources they used before PPP. In this week’s roundup, the Biz2Credit Small Business Lending Index for May found that approval rates […]

Small Business Loan Approval Rates Rise As P3 Ends

The end of the Paycheck Protection Program (PPP) has arrived, and that means companies will seek funding from traditional sources. According to Biz2Credit Index of Small Business Loans for the month of May, loan approval rates increased for banks and non-bank lenders. Small Business Loan Index – May 2021 While the higher approval rates aren’t […]

Loan terms for tourism businesses relaxed – DOT – Manila Bulletin

The Tourism Department (DOT) is urging more tourism businesses to take advantage of business loans offered under the government’s pandemic recovery program to help them survive the health crisis. (File photo / MANILA BULLETIN) This, after the government extended to two years the grace period for the repayment of commercial loans to tourist companies in […]

Biz2Credit: Small Business Loan Approval Rates May Increase When PPP Ends

Small business loan approval percentages at large banks (or those with more than $ 10 billion in assets) edged up from 13.4% in April to 13.5% in May, according to the latest Biz2Credit Index of Small Business Loans. In addition, approvals at smaller banks jumped from 18.2% in April to 18.7% in May. “Loan approvals […]

PM Modi 59-minute MSME loan approval: banks disburse 2.15 lakh requests; the amount exceeds Rs 60k crore

Former MSME Minister Nitin Gadkari informed Parliament in March this year that only 343 guarantees amounting to Rs 40.56 crore had been issued as of March 10, 2021, since the launch of the program. (Image: PTI) Credit and financing for MSMEs: The number of loans sanctioned by public and private sector banks and non-bank financial […]

Provo Woman Pleads Guilty to Paycheck Protection Program Fraud | News, Sports, Jobs

A statement from the United States Attorney’s Office, Utah District, announced Thursday that Lisa Bradshaw Rowberry, a 49-year-old woman from Provo, had recently pleaded guilty to her role in a program loan fraud scheme. paycheck protection. The statement said Rowberry was employed by Salt Lake City-based trucking company Frisbu and owner Hubert Ivan Ugarte. Ugarte […]

Trucking Company Employee Pleads Guilty to Fraud in PPP Loan Application | USAO-UT

SALT LAKE CITY – Lisa Bradshaw Rowberry, 49, of Provo, pleaded guilty to her role in the Paycheck Protection Program (PPP) loan fraud program last week in federal court. Rowberry pleaded guilty to loan application fraud for illegally obtaining a federal loan from the Paycheck Protection Program (PPP) for the Frisbu Trucking Company, where she […]

SBA Extends COVID-19 Economic Disaster Loan Application Deadline to End of 2021

The US Small Business Administration has announced that the deadline for applying for the Economic Disaster Loan (EIDL) program for COVID-19 pandemic disaster declaration is extended to December 31, 2021. The extension of the deadline follows the recent bipartisan COVID-19 relief bill passed by Congress and enacted by President Trump on December 27, 2020. To […]

Biz2Credit: March Non-PPP Loan Approval Rate Trending Upward

Small business loan approval percentages at large banks (over $ 10 billion in assets) edged up to 13.5% in March from 13.3% in February 2021, according to the index. Biz2Credit small business loan. By comparison, in March 2020, the big banks approved 15.4% of the funding requests they received. “Traditional loans from big banks increased […]

Opinion: Small Business Administration’s relaxed loan terms offer a silver lining for small businesses

The dominant narrative around US small businesses throughout the pandemic has been pessimistic rhetoric. But there is another side to the history of small business that is emerging. A story of determination, perseverance and new opportunities. Many companies have shown incredible creativity and ingenuity to take advantage of the opportunities arising from the pandemic and […]

SBA triples maximum loan amount for businesses impacted by COVID

The Small Business Association (SBA) announced that starting April 6, small businesses and nonprofits can apply for up to two years of relief with a maximum loan amount of $500,000. the COVID-19[female[feminine The Economic Disaster Loan Program (EIDL) offers businesses 30-year fixed rate loans providing capital for rent, health benefits, utilities and debt repayment. However, […]

SBA increases maximum disaster loan amount to $ 500,000, effective April 6

Federal disaster loans to help small businesses, nonprofits and farms survive the coronavirus pandemic are increased to a maximum of $ 500,000 per applicant from the current $ 150,000, officials said on Wednesday. responsible. The change to the US Small Business Administration’s Economic Disaster Lending Program, or EIDL, is effective April 6, said the agency’s […]

Federal government extends CEBA small business loan application until June 30

The federal government has extended the application deadline for the Canada Emergency Business Account (CEBA) program on June 30. Launched at the start of the COVID-19 pandemic in Canada, CEBA offers interest-free loans of up to $ 60,000 to small businesses, to help cover their operating costs such as rent, utilities and insurance. Businesses that […]

House OKs PPP Loan Application Deadline Extension

What would you like to know Sponsoring lawmakers call the legislation a bipartisan and sensible way to help small businesses. The short-term extension will help cope with the lingering economic impacts of the pandemic, said Representative Velázquez. The American Institute of CPAs says the bill is necessary given the tax and compliance challenges for the […]

CPAs urge lawmakers to extend PPP loan application deadline

What would you like to know The PPP loan application deadline is March 31st. CPAs and borrowers face “pressing” tax and compliance challenges. A decision by Biden to temporarily limit nominations has benefited women and minorities. The American Institute of CPAs urged lawmakers on Wednesday to extend the paycheck protection program application deadline by at […]

PM Modi 59-minute MSME loan approval: requests for 2.23 lakh sanctioned by PSBs; 93% disbursed to date

Gross bank credit deployed to MSEs in December 2020 had increased 6.6% to Rs 11.31 lakh crore, compared to Rs 10.61 lakh crore during the period last year. Credit and financing for MSMEs: Public Sector Banks (PSBs) authorized 2,233,501 loans, under the 59-minute loan approval program launched by Prime Minister Narendra Modi in November 2018, […]

Research shows minority businesses have lower loan approval rates than their white counterparts

Many small businesses across the country have been doing everything they can to stay afloat after being hit hard by COVID-19 restrictions. Owners have applied for small business loans to help keep their doors open, but research released by the Federal Reserve Bank of New York found minority-owned businesses were less likely to receive loans […]

PPP loan approval process opens for all lenders on Tuesday, SBA says

The SBA, which this week began approving new PPP loans for minority and women-owned businesses, plans to open the process to all lenders starting Tuesday. The US Small Business Administration announced Thursday that all banks and other lenders will be able to submit applications for federally guaranteed loans to the online approval portal starting next […]

Card Factory warns of risk of breach of loan terms as sales plummet

Card Factory warns it is in danger of violating loan terms as store sales drop by third due to repeated lockdown closures Sales for the 11 months to end of December fell 33.7% to £ 281.4million In-store sales down 38%, but online sales up 137% and commercial sales up 63% The impact of the foreclosure […]

Customers Bank opens a PPP loan application portal; Will also provide a turnkey white label solution for other lenders

Customers Bank (NYSE: CUBI), one of the country’s leading 2020 Paycheck Protection Program (PPP) lenders, began receiving applications last night for the new round of government-guaranteed loans designed to help small businesses keep their jobs with wages and health benefits. . The bank has participated in more than 100,000 PPP loans totaling more than $ […]

PPP loan application details announced

Much of the latest Covid-19 relief plan that was passed by Congress in late December was aimed at helping small businesses through another round of funding to reopen and strengthen the Payroll Protection Program (PPP) through the US Small Business Administration (SBA). PPP loans will be reserved for companies with less than 300 employees, as […]

Nav launches PPP loan application portal for SMEs

SALT LAKE CITY, January 11, 2021 / PRNewswire / – Navigation, the smart and simple financing platform for small businesses, today launched its PPP application portal to help small businesses apply quickly for the new Paycheck Protection Program (P3) Loan Round. The Nav PPP portal simplifies and streamlines the PPP loan submission process and guides […]

SBA Extends EIDL Loan Application Deadline Until End of 2021

The Small Business Administration (SBA)announced the extension of the deadline for companies to apply for the Economic Disaster Lending (EIDL) program to December 31, 2021. The further extension of the deadline for the second round of EIDL funding Comes after the second $ 900 billion COVID-19 relief bill was enacted on December 27, 2020. SBA […]

Small Business Administration Extends Loan Application Deadline

The deadline extension follows the recent bipartisan COVID-19 relief bill passed by Congress and enacted by President Trump on December 27, 2020. CORPUS CHRISTI, Texas – The U.S. Small Business Administration announced today that the deadline to apply to the Economic Disaster Loan (EIDL) The program for the COVID-19 pandemic disaster declaration is extended until […]

SBA Extends COVID-19 Disaster Loan Application Deadline |

The US Small Business Administration has extended the deadline for applying for pandemic economic disaster loans to December 31, 2021. The agency said the $ 900 billion COVID-19 relief plan that Congress recently approved has extended the deadline. An EIDL is a low-interest loan – 3.75% for small businesses, 2.75% for nonprofits – with terms […]

Catastrophe loan application deadline extended by one year, according to SBA

The deadline for applying for economic disaster loans has been extended to Dec.31, 2021, US Small Business Administration officials said yesterday. “EIDL loan applications will continue to be accepted until next year, pending the availability of funds,” said Matt Coleman, spokesperson for SBA Region II, which includes New State. York, noting that the agency had […]

Business loan approval rates drop 50% in past year

Small business loan approvals at big banks are down 50% from last year’s figures, according to data from Biz2Credit Index of Small Business Loans. Loan approvals from large banks with more than $ 10 billion in assets were 13.2% in November this year, compared to 28.1% for the same period. Big bank loan approvals fell […]

Small business loan approval rates at banks fell again in

NEW YORK, October 06, 2020 (GLOBE NEWSWIRE) – Small business loan approval percentages at big banks ($ 10 billion and more in assets) fell slightly from 13.6% in August to 13.5% in September, indicative of the difficulties facing small businesses, according to the latest Biz2Credit Index of Small Business Loansâ„¢ released today. the Biz2Credit Index […]

NDB clarifies terms and conditions for SME loans

October 2, 2020 BY MELISHA YAFOI The National Development Bank will publish its official terms and conditions for its new loan products under the financing of SMEs of K80 million. According to NDB, the four new products introduced by the bank to help SMEs came as a result of the dialogue the bank had with […]

Small business loan approval rates at banks fell in August

Slight declines in approval percentages at alternative lenders and credit unions NEW YORK, Sept. 08, 2020 (GLOBE NEWSWIRE) — Small business loan approval percentages at large banks (over $10 billion in assets) and small banks fell slightly in August 2020, this which indicates that the upward trend that began in May has stabilized, according to […]

Trade chief promises concessional lending terms for tourism sector

THE tourism sector in difficulty will be able to benefit from concessional loan conditions under the Small Business Corp. (SBCorp). This was assured by the Secretary of Commerce and Industry, Ramon Lopez, when asked about the funding of P 10 billion that the government financial institution will receive under the recently ratified Bayanihan 2 bill. […]

Small Business Bank Loan Approval Rates Improve, New Data From Biz2Credit

There was an encouraging rebound in small business loan approval rates for banks and non-bank lenders in July. This is according to the recently released Biz2Credit Small Business Lending Index. Approval rates show a 0.3% increase in approval percentage for small business loan applications at large banks. This increase in the approval rate does not […]

(Finals?) PPP loan approval statistics until 8/8/2020 | Bryan Cave Leighton Paisner

Barring further legislative action, the paycheck protection program new loan approval window ended on August 8, 2020. Since the initial launch on April 3 following the CARES Act, 5,212,128 small businesses have borrowed $ 525 billion. dollars under the Paycheck Protection Program. On August 11, the SBA released a Paycheque Protection Program Report with additional […]

Small business loan approval rate continues to rebound

the Biz2 Credit The Small Business Loans Index for June 2020 shows that small business loan approval rates continue to rebound. Biz2Credit Index of Small Business Loans June 2020 Small business loan applications rebounded from 11.5% in May to 13.5% in June, according to the index. The figures for June are significantly lower than those […]

Small business loan approval rates rebounded in June 2020:

NEW YORK, July 14, 2020 (GLOBE NEWSWIRE) – The percentage of approval for small business loan applications in big banks (over $ 10 billion in assets) rebounded just 11.5% in May to 13.5% in June, according to the Biz2Credit â„¢ Small Business Loan Index released today. June’s figure is still well below the record rate […]

PPP Loan Application Deadline Extended to August 8

If you haven’t completed a Paycheck Protection Program (PPP) loan application by the previous deadline, you’re in luck. On July 4, President Donald Trump extended the deadline for PPP loan applications by more than a month. The new deadline for PPP loan applications is August 8. PPP loan deadline extended to August 8 The previous […]

Senate Passes Coronavirus Bill Extending Small Business Loan Terms

By Richard Cowan, Andy Sullivan FILE PHOTO: The United States Capitol building is seen ahead of a vote later today on an additional economic stimulus package against coronaviruses, passed earlier in the week by the United States Senate, in Washington, United States , April 23, 2020. REUTERS / Tom Brenner WASHINGTON (Reuters) – The United […]

Small business loan approval rates drop to record lows in April

Small businesses are struggling to get the non-government money they need from banks to stay open, according to a new index. This at a time when they need it most. Specifically, the approval rate for small business loans fell to 8.9% in April from a record high (28.3%) in February. This is the lowest approval […]

Small business loan approval rates have fallen to record lows

NEW YORK, May 12, 2020 (GLOBE NEWSWIRE) — The approval percentage for small business loan applications to big banks (over $10 billion in assets) fell below double digits to just 8.9%down from 15.4% in March and an all-time high of 28.3% in February 2020, according to the Biz2Credit™ Small Business Loan Index published today. The […]

SBA PPP Loan Approval Statistics | Bryan Cave Leighton Paisner

Since the launch of the Paycheck Protection Program on April 3, 2020, until the original committed funds were exhausted on April 16, 2020, 4,975 lenders have approved loans to more than 1.6 million small businesses for more than $342 billion. On April 17, the SBA released a report on the Paycheck Protection Program with additional […]

Amount of PPP loan conditions for legalized fraud

Through Pete vegas April 20, 2020 6:45 p.m. ET Photo: Elise Amendola / Associated Press I own a food manufacturing company with over 200 employees that recently secured a $ 3.4 million loan through the Small Business Administration. From what I have observed, the paycheck protection program is completely flawed and will work as an […]

Small business loan approval rates fell in March 2020

All categories of small business lenders take a nosedive as coronavirus wreaks havoc on economy Until the coronavirus pandemic hit the United States, small businesses were thriving and creating jobs, unemployment was at a 50-year low, consumer confidence was high, and in general the U.S. economy was sluggish. as strong as it has ever been […]

How to Submit Your PPP SBA Loan Application and Calculate the Loan Amount

Opinions expressed by Contractor the contributors are theirs. Many small business owners complete their Paycheck Protection Program (PPP) loan applications and run into common questions and hurdles. The immediate question currently revolves around two issues: First, how do I work with my bank or find a bank to submit it to? And secondly, how to […]

GDS Link Announces Release of Digital Loan Application in Support of CARES Act and SBA Loans

DALLAS–(BUSINESS WIRE)–Long-time global leader in credit risk management and digital lending, GDS Link, has announced the launch of an online digital loan application for the U.S. Government Payroll Protection Program. The app will allow banks to immediately support their small business customers with a digitized lending experience, removing the need to complete a paper application […]

Treasury makes coronavirus loan terms less favorable for small businesses

Steven Mnuchin, U.S. Secretary of the Treasury, speaks during a Coronavirus Task Force press conference at the White House in Washington, DC, United States, Thursday, April 2, 2020. Kevin Dietsch | Bloomberg | Getty Images The Treasury Department has changed the terms of some loans it is offering to small businesses during the coronavirus pandemic, […]

On day one, the small business loan application process is plagued with problems

Officials across the U.S. banking industry rushed overnight to roll out a massive new government-backed lending program to help small businesses ravaged by the coronavirus pandemic and many have not been able to make it happen before Friday’s deadline given that the Treasury Department released its lending guidelines late Thursday night. The $350 billion federal […]