The Small Business Administration (SBA) 504 Loan Program completed its largest monthly funding of loans in the program's 34-year history, including 1,462 loans for nearly $1.3 million — more than double the previous record set in September 2012. read more
SEP 21, 2020 - 5:30 am
The Treasury Department and Small Business Administration released a loan forgiveness application form for the Paycheck Protection Program, but the AICPA said it fails to address outstanding issues and does not provide enough flexibility for those who receive funds. read more
MAY 18, 2020 - 6:55 am
AICPA, NFIB, S-CORP and four other small business advocates issued a statement in response to the SBA’s lack guidance on the Paycheck Protection Program. read more
MAY 15, 2020 - 6:25 am
According to COVID Loan Tracker's estimates, at least $400 billion, in addition to the funds already allocated, will be needed to satisfy the outstanding financial need of small businesses as they navigate the current crisis. read more
APR 27, 2020 - 6:45 am
The Wall Street Journal reported that lawmakers have disagreed about how to replenish the $350 billion small business loan program, which exhausted its funds after approving 1.6 million applications. read more
APR 17, 2020 - 6:55 am
The Wall Street Journal reported that banks are performing more due diligence than required for federal small business stimulus loans. read more
APR 14, 2020 - 6:50 am
Q2 Holdings launched an end-to-end digital lending solution specifically designed to help financial institutions accelerate application acceptance and funding to small businesses under the Paycheck Protection Program. read more
APR 9, 2020 - 6:45 am
FDATA requested that borrowers and lenders be able to use digital financial records to qualify for the Paycheck Protection Program established by Congress as part of the COVID-19 stimulus package. read more
APR 3, 2020 - 6:25 am
Cardinal Business Financing outlined the relief provided to small businesses in the Coronavirus Aid, Relief, and Economic Security Act. read more
APR 1, 2020 - 6:45 am
ELFA President and CEO Ralph Petta submitted a letter to the U.S. Small Business Administration requesting that equipment finance companies be eligible to participate in the new Paycheck Protection Program under the CARES Act. read more
MAR 31, 2020 - 6:25 am
Greg Gala joined First Internet Bank’s Small Business Administration (SBA) Lending team as vice president, senior business development officer. read more
JAN 17, 2020 - 6:40 am
Axiom Bank promoted G. Hunt Dawkins to the position of VP, SBA division manager. Dawkins will lead Axiom’s programs for extending government-guaranteed loans to small businesses. read more
MAY 21, 2019 - 5:40 am
The approval percentage for small business loan applicants hit a record high of 27.3 percent at big banks in March, up one-tenth of a percent from February. read more
APR 12, 2019 - 7:00 am
With the U.S. Small Business Administration closed for the past two weeks because of the partial government shutdown, SBA loan approvals dropped in December 2018 at banks and other institutions. read more
JAN 11, 2019 - 6:55 am
Axiom Bank promoted Scott Amatuccio to vice president, SBA Manger. read more
AUG 27, 2018 - 7:15 am