Chris Hurn, founder of Fountainhead Commercial Capital, has received 7,400 small business loan requests in the past two weeks, more than his business has handled in its five years of existence. The Lake Mary, Florida-based non-bank lender is just one of thousands of financial institutions across the country preparing to dole out $349 billion in …
As the federal government prepares to launch a $349 billion loan program meant to help small businesses survive the coronavirus pandemic, critics have growing concerns that some mom-and-pop shops might get squeezed out. The Paycheck Protection Program — part of the $2 trillion relief package signed into law last week — was billed as a …