Listen to our daily briefing: This story was updated on May 1 to reflect the most recent figures provided by Bank of America. Bank of America has 184,000 applications still pending for federal small business stimulus loans after the second round of stimulus funding replenished the ailing program’s coffers. These …

After the program launched on Monday, more than 69,000 coronavirus Bounce Back loans, equivalent to more than £ 2 billion, have been approved by banks, according to Chancellor of the Exchequer Rishi Sunak. The program, through which SMEs can apply for loans of up to £ 50,000 to help them …

Robert de niroThe Nobu restaurant group has come under fire after receiving millions of dollars in loans from the federal government’s paycheck protection program amid the coronavirus pandemic. The upscale chain, founded by De Niro, 76, celebrity chef Nobuyuki “Nobu” Matsuhisa and film producer Meir Teper in 1994, has outposts …

Mumbai: Loan-for-Equity (LAS) interest rates have risen by around 300 basis points over the past three months despite the RBI’s soft rate regime as some large-scale defaults have increased the associated risk. Business developers give such short-term loans because they cannot get other lines of credit or invest in other …

The Supreme Court on Thursday asked the Supreme Court Lawyers Association seeking interest-free loans for a lawyer for up to 20 lakes, to file a detailed affidavit regarding his credentials. A bench of Chief Justice SA Bobde, Justices AS Bopanna and V. Ramasubramaniun asked counsel how old the Association was …

“We have supported the program and the expansion of funds because small businesses face urgent needs,” said Warren (D-Mass.) And Representative Nydia Velázquez (DN.Y.) in a letter to inspectors. generals of the SBA and the Treasury. “But now that the program has been replenished, Congress and the administration have a …

The Small Business Administration (SBA) issued a simple one-page forgiveness request for Paycheck Protection Program (P3) borrowers who have obtained loans of $ 50,000 or less. The new app removes calculations required on previous forms and simplifies documentation requirements. The new application does not require calculations and only requires small …

Hancock Whitney Bank has announced that it will sell $ 497 million in energy loans as part of an effort to reduce risk in its loan portfolio. Following the sale and efforts to build reserves to handle losses from the coronavirus pandemic, Hancock Whitney said he would post a net …

The American Institute of CPAs has published advice on how to account for forgivable loans under the Small Business Administration’s Paycheck Protection Program. The PPP was included as part of the CARES law that Congress passed in late March and provides SBA-guaranteed loans to businesses to help them cope with …

The new RBI guidelines are expected to boost credit for renewable energy and healthcare infrastructure. Credit and financing for MSMEs: The Reserve Bank of India today revised guidelines for priority sector lending, after which lending to startups; farmers for the installation of solar energy; and the establishment of compressed biogas …