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PYMNTS.com | April 08, 2020
Small businesses overwhelmed U.S. financial institutions as they scrambled to apply for Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. When the program went live on Friday (April 3), only two FIs, Bank of America and JPMorgan Chase, had been able to begin accepting applications — Bank of America saw a whopping $6 billion worth of applications in only a few hours, ending Friday with $32.6 billion in applications. It was a shaky ...
GlobeNewswire | February 20, 2020
Lendio, the nation’s largest marketplace for business loans, today released a new report on the state of small business lending in the Midwest. According to the report, small businesses in the Midwest are the most underserved in the nation despite seeing the highest level of growth in funding in Q4 2019. The findings are based on data from over 35,000 small business borrowers across the U.S. in 2019. The lag in funding in the state could be attributed to the region’s lower-than-avera...
Business Wire | February 07, 2020
The CBIZ Small Business Employment Index (“SBEI”) showed companies hit the ground running with hiring in 2020, documenting a seasonally adjusted growth rate of 1.61% in January. This is the highest January reading since the metric’s inception in June 2009. The CBIZ SBEI tracks payroll and hiring trends for over 3,500 companies that have 300 or fewer employees, providing broad insight into small business trends. While January generally sees small businesses scale down their empl...
PR Newswire | January 21, 2020
The U.S. Small Business Administration is seeking comments on a proposed rule that would allow veteran-owned small businesses, including companies located in Puerto Rico and disaster areas, access to property no longer needed by the federal government. The Federal Surplus Personal Property Donation Program, managed by the U.S. General Services Administration, enables nonfederal organizations to obtain excess property the government no longer uses. Surplus property would include computers, ...
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