In less than a week, the SBA, which handled just $28 billion in loans in 2019, stood up a platform to try and begin disbursing nearly $350 billion through an entirely new program Friday. But concerns about lender liability, glitches with the interface banks used to upload loan information and delayed participation by major banks all culminated into a rocky first few hours.
What small businesses need to know about the government's new forgivable loan programThe issues surrounding the rollout of the small business loan program are an early sign that efforts to quickly dole out funds from the massive $2 trillion stimulus are going to be rocky, including disbursement of direct payments to individuals and states having to disburse a record number of unemployment insurance claims.
The Trump administration has changed its description of the Strategic National Stockpile on a government website after journalists noted that it contradicted a claim Jared Kushner had made about the program. By AaronBlake:
Was this website done by the same people who did the Iowa Democrats caucus votes? Maybe it’s the team from Google that the president was talking about (and are learning how to code)? Dunno.
Did 'they' ever fix the Obamacare website?
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Stimulus aid for 'small business' will go to some big chainsThe $349 billion stimulus program intended to help small businesses survive the coronavirus shutdowns will be open to franchisees and other large employers, raising concerns that mom-and-pop businesses could get squeezed out. SME’s are lifeline of our 🌍. Save them Save Jobs This is a lie, it’s focused toward businesses with 500 or less employees. Where the freak do you see mom and pop stores being left out I’m not sure who needs to hear this... but he doesn’t give a fuck about you or I.
Source: AP - 🏆 728. / 51 Read more »
Swiss to expand emergency aid programme as coronavirus toll mountsSwitzerland is preparing more help for businesses flattened by the coronovirus epidemic, the government said on Wednesday, topping up the biggest economic aid package in Swiss history as the human toll mounted. **Of all COVID-19 deaths in NY, What % were treated with Hydrochloroquine plus Azithromycin: Early Onset TX: 0% Progressively Worse: 0% Death Bed: % I want to know how many people did NOT have to die. *** There is NO DOUBT this drug combo KILLS nCoV19 in 5 days. Best wishes.
Source: Reuters - 🏆 2. / 97 Read more »
Bank of America says 85,000 small businesses have asked for $22.2 billion in loans since 9 a.m.Bank of America is now accepting online applications for the government’s $350 billion small business relief program. “Speed is of the essence here for these types of small businesses,” CEO Brian Moynihan said this morning. They had to make it worse first Shocker No they are not.They are denying just about every business that meets the government's qualifications. Have you ever heard of investigative journalism? could you do your damn job and report the truth. I guess he didn't mention how BankofAmerica isn't allowing people to apply without a prior debt relationship. Worst bank on the planet. Platinum Honors client, will be switching.
Source: CNBC - 🏆 12. / 72 Read more »
Bank of America's small business loan portal is up, making it the first major bank to begin relief program“What we’re doing here is keeping people employed, keeping doors open,” House Minority Leader Kevin McCarthy says about the $350 billion small business relief program. It is a Hoax right Joe? This is the worst season of The Apprentice ever...well maybe not the season with Meatloaf...that was really bad. Kevin McCarthy needs to resign.
Source: CNBC - 🏆 12. / 72 Read more »
The Coronavirus Small Business Loan Program: What You Need To KnowCongress has made $349 billion available in loans to small businesses, much of which may be forgivable. Here's what to know about how this might work for your small business. Hedge funds are small businesses. Someone, please follow the money. Thanks Trump 😁 Small businesses have to get loans Big businesses get bailed out Hmmmmm
Source: NPR - 🏆 96. / 63 Read more »
Treasury makes coronavirus loan terms less favorable for small businessesThe Treasury Department raised interest rates on its Paycheck Protection Program loans for small businesses and reduced their payback period. Way to go Munchy! it was never ment for small business its wallstreet bailout Anyone really surprised?
Source: CNBC - 🏆 12. / 72 Read more »