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The new Paycheck Protection Program rules, which created a review process and timeline for paying lenders, did not extend the time borrowers have to comply or increase how much money can be spent nonpayroll expenses.
May 24 -
About 5,500 large customers of the commercial banking business applied for funding. Nearly all of them got loans.
April 22 -
The Small Business Administration stopped approving loans when the Paycheck Protection Program hit its cap.
April 16 -
Its prediction that business conditions will remain weak this year — and into next year — stands in stark contrast to forecasts from political leaders that the economy will rebound quickly from the coronavirus pandemic.
April 14 -
Though hopeful for a second-half bounceback in the economy, JPMorgan Chase is prepared for 20% unemployment, lackluster GDP and losses in its loan portfolio that could reach tens of billions of dollars.
April 14 -
Just days after the Fed lifted Wells Fargo's asset cap so it could make more Paycheck Protection Program loans, it warned customers its queue is long and they may want to go elsewhere before program funds are exhausted.
April 13 -
“We have to have a roadmap for how to deploy capital in this environment,” says the global head of alternatives for the firm’s asset management arm.
March 31 -
The major issuers of leveraged products, which trade under the ProShares and Direxion trademarks, have each posted inflows of over $2.8 billion this month.
March 30 -
No online lenders are approved for the agency's traditional programs, but they could make loans under the COVID-19 stimulus package if they get special approval.
March 26 -
The firm, run by Big Short protagonist Greg Lippmann, may make sustainability the linchpin of its CLO business after completing its first deal that complies.
February 20