by mujair | Apr 16, 2020 | Business & Finance News
For more than four decades, China has never acknowledged that its economy actually shrank, even during major economic crises. But that may change on Friday, when the country announces gross domestic product for the January-to-March quarter. China’s National Bureau of...
by mujair | Apr 11, 2020 | Business & Finance News
When Joseph Levey logged in to Chase Bank’s lending portal early Tuesday, he hoped he would finally be able to submit his law firm’s application for a federal stimulus loan. He had been trying since the previous Friday. “One of the C.P.A.s I work with was just heading...
by mujair | Apr 9, 2020 | Business & Finance News
The program’s previous peak came in 2006 after Hurricane Katrina. It disbursed loans of $1.7 billion that year, according to the Congressional Research Service. In early March, Congress allocated funds to support around $7 billion in lending in response to the...
by mujair | Apr 6, 2020 | Business & Finance News
The small-business program was opened on Friday, but some banks began talking to their customers earlier in the week about how to apply for loans. Anecdotal evidence suggests that successful applicants are vastly outnumbered by frustrated borrowers, and even those who...
by mujair | Apr 5, 2020 | Business & Finance News
The frenzy began even before most banks opened. By 9 a.m. on Friday, banks had already processed 700 loans totaling $2.5 million for small businesses as the spigot opened on a federal emergency relief program. But that was just the beginning. By early afternoon that...
