Monday, 27 Apr 2020 07:13 AM MYT
The Small Business Administration will impose a maximum dollar amount for individual lenders at 10 per cent of Paycheck Protection Programme funding, or US$60 billion per lender, and pace the applications filed, according to SBA guidance yesterday to lenders that have received a significant number of applications. The steps are “prudent and reasonable” due to the unprecedented demand for the loans, the memo said.
The PPP came under criticism after a number of publicly traded companies with thousands of employees and hundreds of millions of dollars in annual sales got loans, while smaller businesses did not.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US airlines received US$12b in aid so far, says Treasury | Malay MailNEW YORK, April 26 ― The Trump administration said Saturday that it has disbursed US$12.4 billion (RM54 billion) to 93 air carriers to help them preserve jobs as the sector struggles to survive the effects of the Covid-19 pandemic. In a statement, the Treasury Department said it would “continue...
Source: malaymail - 🏆 1. / 86 Read more »
Turkey’s steps to support economy over Covid-19 reach US$29b | Malay MailISTANBUL, April 25 ― The Turkish government’s steps to support the economy in the face of the coronavirus pandemic have reached a value of 200 billion lira (RM126 billion), Finance Minister Berat Albayrak said on Saturday. President Tayyip Erdogan initially announced a 100 billion lira...
Source: malaymail - 🏆 1. / 86 Read more »
Mount Rushmore drawing visitors escaping US virus lockdowns | Malay MailKEYSTONE, April 26 ― The steep and winding roads leading up to the iconic Mount Rushmore memorial are deserted these days. This mecca of tourism in South Dakota, which ordinarily swarms with tourists, is now drawing only the occasional handful of visitors desperate to escape their...
Source: malaymail - 🏆 1. / 86 Read more »
US Navy wants to reinstate fired captain of coronavirus-hit aircraft carrier, say sources | Malay MailWASHINGTON, April 25 ―In an extraordinary reversal, the US Navy has recommended reinstating the fired captain of the coronavirus-hit aircraft carrier Theodore Roosevelt, whose crew hailed him as their hero for risking his job to safeguard their lives, officials said yesterday. The Navy's...
Source: malaymail - 🏆 1. / 86 Read more »
Iran’s president says Tehran watches US closely, but won’t start conflict | Malay MailDUBAI, April 25 ― Iranian President Hassan Rouhani said on Saturday that Tehran was closely following US activities, but would never initiate a conflict in the region. Rouhani's comments, which come at a time of rising tension between Washington and Tehran, were made during a telephone call to... Yeah, it’s a great time to talk about conflicts.
Source: malaymail - 🏆 1. / 86 Read more »
Ringgit likely to see range-bound trading against US dollar next week | Malay MailKUALA LUMPUR, April 25 — The ringgit is likely to trade range-bound next week despite a recovery in oil prices as global sentiment remains uncertain. AxiCorp global chief market strategist Stephen Innes said following the extension of the movement control order (MCO) in the country until May 12,...
Source: malaymail - 🏆 1. / 86 Read more »