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Small Business Administration (SBA) | June 11, 2020
As of Friday, May 22, 2020, the Small Business Administration (SBA) released the second version of the Interim Final Rules pertaining to the guidelines on the SBA loan review process. Then one week later, senate passes house bill on June 3rd which again changed the rules on PPP Forgiveness. The everchanging landscape has lenders and borrowers concerned about submitting PPP Forgiveness Applications. LQD Business Finance, a tech-enabled commercial lender recognized that the complicated Paycheck Pr...
Lendsmart | December 06, 2021
Lendsmart, an AI-driven digital lending platform, today announced its partnership with Breakout Capital, a leading small business lender that provides simple, straightforward working capital solutions to small businesses.Breakout Capital has integrated with Lendsmart’s Loan Management System, which to date, has processed over 15,000 loans. With Lendsmart’s lending technology, Breakout Capital can offer borrowers one end-to-end digital experience that brings experts and advisors toget...
The Paycheck Protection Program | May 18, 2020
The U.S needs to quickly revise its coronavirus aid program for small businesses to extend the eight-week period, a key U.S. senator said on Sunday.
The eight-week period may be applied to any time frame from mid-February up to June 30.
Reuters | May 05, 2020
New York’s Attorney General said on Monday she has asked 11 major U.S. banks to clarify how they had issued loans tied to the U.S government’s $660 billion program to rescue small businesses from the impact of the coronavirus pandemic.
Known as the Paycheck Protection Program, the plan was intended to help small firms weather the worst global economic crisis in decades but has been hobbled by missing paperwork, technology failure and a misdirection of funds to big corporations...
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