“Why should loyal Wells Fargo customers get a double whammy — the prior fake-account scandal and now not being able to apply for a PPP loan?” asked one of the bank's small business customers.
Truist, Bank of America and other local lenders had doled out nearly $1.5B in SBA loans before the COVID-19 crisis. How much is not guaranteed?
With small businesses falling like dominoes as quarantines and shelter-at-home orders stiffen, banks already staggered by historically low interest rates face the growing prospect of having to write off loan exposures to mom-and-pop borrowers and entre...
Citizens halfway to 2019's full-year branch closures in Pittsburgh metro.
A national nonprofit community development financial institution has launched a $5 million small business emergency relief fund, and Alabama businesses are eligible for assistance. TruFund Financial Services Inc. is offering loans to disadvantaged min...
The hiring push is on top of a similar one the company made in Denver last year.
Wells Fargo said on the evening of April 5 that it has exhausted its $10 billion capacity for lending under the SBA’s Paycheck Protection Program as the bank operates under a regulatory asset cap. In other words, amid the pandemic-induced downturn tha...
The city established a $1 million COVID-19 economic relief fund to mitigate the financial effects of the disease. We talked to loan recipients about what comes next.
The CEOs of Cincinnati's major banks met by conference call Friday to talk about ways to ensure the region's businesses have access to Small Business Administration-backed loans.
Exclusive: S.F. proptech raises doubts about its future in state filing as financing falls through, layoffs underway
The San Francisco company is shedding almost half its staff.
The Paycheck Protection Program is up and running. However, the rollout of the program is off to a chaotic start, with guidance to lenders changing by the hour.
Don't want to win? Then this bank chief doesn't you on his team.
Wayne Bell has been busy. Bell, district director for the Small Business Administration in Wichita, says he has been guiding business owners and managers who have been impacted by the coronavirus pandemic through applications for financial assistance...