by mujair | Apr 27, 2020 | Business & Finance News
A company in Georgia paid $6.5 million to resolve a Justice Department investigation — and, two weeks later, received a $10 million federally backed loan to help it survive the coronavirus crisis. Another company, AutoWeb, disclosed last week that it had paid its...
by mujair | Apr 26, 2020 | Business & Finance News
One day before the federal government’s $349 billion aid program for small businesses was set to go live, the chief executive of a Minnesota bank was frantically dialing officials in Washington. Grand Rapids State Bank needed more time to understand the program, said...
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 11, 2020 | Business & Finance News
However, only 78 of 950 such organizations are participating in the government program, according to a Treasury spokesman. The rest do not have authorization to participate because they have not previously been approved by the Small Business Administration to make...
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...
