SBA

SBA Struggling To Meet Demand For Relief Loans
SBA Struggling To Meet Demand For Relief Loans
April 08, 2020  |  Loans

An old computer system and too few employees are making it hard for the Small Business Administration (SBA) to meet the high demand for coronavirus...

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SBA Overwhelmed With Requests, May Cause Delay In SMB Loans
SBA Overwhelmed With Requests, May Cause Delay In SMB Loans
April 08, 2020  |  Coronavirus

As businesses around the U.S. wait eagerly for loans from the $2 trillion stimulus package passed by Congress, the Small Business Association (SBA) may be...

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Mastercard Pledges $250M In Help For Small Businesses
Mastercard Pledges $250M In Help For Small Businesses
April 07, 2020  |  Mastercard

Recognizing that Main Street is being hard hit by the coronavirus pandemic, Mastercard committed $250 million over the next five years to support small- to...

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Trump Wants Additional $250 Billion For SMB Loans
Trump Wants Additional $250 Billion For SMB Loans
April 07, 2020  |  Loans

President Donald Trump said he is working with congressional leaders to come up with another $250 billion in loan guarantees to help small- and medium-sized...

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SBA Computer System Crash Further Tangles PPP Loan Process
SBA Computer System Crash Further Tangles PPP Loan Process
April 07, 2020  |  Loans

The Paycheck Protection Program (PPP) introduced April 3 is experiencing more setbacks as the Small Business Administration (SBA) works to solve computer system problems, according...

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Small Business Rescue Program Encounters Technical Challenges
Small Business Rescue Program Encounters Technical Challenges
April 06, 2020  |  Loans

Amid processing and technology challenges that are holding back payments, the U.S. government’s $350 billion small business rescue program began its fourth day on Monday...

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Mnuchin: Community Banks Processed Almost $875M In Relief Loans
Mnuchin: Community Banks Processed Almost $875M In Relief Loans
April 03, 2020  |  Coronavirus

In a social media post, U.S. Treasury Secretary Steven Mnuchin said community banks have helped process many of the small business Paycheck Protection Program (PPP)...

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Why Main Street’s SMBs Can’t Wait (Much Longer) For The SBA’s PPP Cavalry
Why Main Street’s SMBs Can’t Wait (Much Longer) For The SBA’s PPP Cavalry
April 03, 2020  |  Loans

The lifeline for the small businesses that make up the backbone of the U.S. economy is now there for the taking. But is the $350...

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Treasury Says SBA SMB Relief Program Is Live, Big Banks Say They’re Not Ready
Treasury Says SBA SMB Relief Program Is Live, Big Banks Say They’re Not Ready
April 02, 2020  |  Coronavirus

Treasury Secretary Steve Mnuchin announced shortly after 7 p.m. Thursday, April 2 that the Paycheck Protection Program was live and ready to begin distributing $350...

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