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The majority of small businesses in the U.S. are optimistic about reopening amid the coronavirus pandemic, a new study says. Nearly three-quarters of businesses (74 percent) expect to return to business as usual within six months of coronavirus restrictions being lifted, the Connected Commerce Council (3C) said Wednesday. “This report shows that in the face …
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Hundreds of publicly traded companies appear to be keeping government-backed loans meant to help small businesses weather the coronavirus crisis. Only 68 of the 424 public firms that disclosed receiving $1.3 billion in loans from the federal Paycheck Protection Program had pledged to return them as of early Monday morning, according to regulatory filings compiled …
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Big tech companies such as Facebook and Google have touted their efforts to help small businesses struggling during the coronavirus pandemic — but those efforts may eventually take customers away from the small businesses they were supposed to help, according to a new report. Facebook and Instagram Shops were announced this week to help shuttered …
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A Scandanavian tech firm with a tiny office in New York City snagged more than $200,000 in aid meant to help American small businesses survive the coronavirus crisis. Zedge, a digital publishing outfit founded in Trondheim, Norway, got a $217,900 loan last month through the feds’ $659 billion Paycheck Protection Program, according to a regulatory …
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The US Justice Department on Tuesday brought its first criminal charges against people it accused of defrauding the $660 billion Paycheck Protection Program aimed at dulling the coronavirus pandemic’s heavy hit on the economy. The small-business loan program is part of an unprecedented $2.2 trillion coronavirus economic package meant to reimburse businesses and households for …
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Small businesses in Brooklyn have a new chance to score a coronavirus loan — and they won’t have to negotiate the US government’s Paycheck Protection Program to get it. Starting Tuesday, the Brooklyn Chamber of Commerce will give out loans of up to $30,000 to any shop owner who has been hurt by the pandemic …
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JPMorgan Chase said Friday it has secured roughly $15 billion in the second round of Paycheck Protection Program funding, with about $8.4 billion of that going to small businesses in the Tri-State Area. The nation’s biggest lender started notifying clients in the wee hours of the morning that their emergency funding from the Small Business …
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Desperate small businesses may finally be getting some good news from the nation’s biggest bank. After coming under heavy criticism for processing coronavirus stimulus loans to large, publicly traded clients like Shake Shack and Ruth’s Chris Steakhouse, JPMorgan Chase on Thursday told 220,000 clients that its Payroll Protection Program loans have been processed, with all …
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Bankrupt companies are reportedly suing the feds for cutting them off from loans that could keep them afloat during the coronavirus crisis. Troubled firms have filed at least a dozen lawsuits against the Small Business Administration to get access to the $659 billion Paycheck Protection Program offering forgivable loans to help small businesses keep their …
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Banks trying to submit applications for thousands of small businesses seeking coronavirus relief loans have hit a bottleneck for a second day at the Small Business Administration. Banking industry groups said Tuesday the SBA’s loan processing system is still unable to handle the volume of loan applications from business owners trying to get aid under …
The majority of small businesses in the U.S. are optimistic about reopening amid the coronavirus pandemic, a new study says. Nearly three-quarters of businesses (74 percent) expect to return to business as usual within six months of coronavirus restrictions being lifted, the Connected Commerce Council (3C) said Wednesday. “This report shows that in the face …
