The Federal Reserve Board will report information on a monthly basis for the liquidity and lending facilities using Coronavirus Aid, Relief and Economic Security (CARES) Act funding.
Biz2Credit will offer its Biz2X Accelerate SBA platform free of charge to banks and credit unions with assets under $10 billion that are offering Paycheck Protection Program loans.
According to a survey from the Association for Corporate Growth, 62% of small and medium-sized businesses majority-owned by venture capital, private equity or other private capital providers are excluded from the Paycheck Protection Program.
The newly passed stimulus package includes plenty of provisions which will be important to lenders, especially those who have borrowers in sectors under distress during the COVID-19 pandemic. Paul H. Shur of Becker & Poliakoff walks us through the most important provisions and what they mean for lenders.
Lendio, a small business loan marketplace, launched an online application for small business owners to access the $349 billion in government funds set aside for the Paycheck Protection Program.
Biz2Credit launched Biz2X Accelerate SBA, a platform aimed to help banks and other financial institutions respond to loan requests from small businesses seeking to take advantage of the Paycheck Protection Program (PPP) of the CARES Act stimulus package.