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PPP Is Operating Out Of Cash For Many Debtors. What To Know • MV TELEGRAPH

A small business owner in Chinatown, San Francisco

West-reading , Pennsylvania , United-states , White-house , District-of-columbia , San-francisco , California , Sam-sidhu , Chris-hurn , John-arensmeyer , Customers-bank , Customers-bancorp

Small Companies Nonetheless Have 2 Months To Use • MV TELEGRAPH

A small business owner in Chinatown, San Francisco

San-francisco , California , United-states , America , Americans , Patrick-ryan , Joe-biden , Alex-cohen , Keith-hall , Chris-hurn , First-bank , Senate-on

A Number Of Days Value Some Small Companies 1000's • MV TELEGRAPH

Matt Strickland, owner of Gourmeltz in Fredericksburg, Virginia, at his restaurant on February 12, 2021. Strickland continues to operate his restaurant

Virginia , United-states , Iowa , Fredericksburg , Arizona , Springfield , New-jersey , Americans , American , Peggy-russo , Sarah-foster , Chris-hurn

CPLC's Prestamos faces COVID-19 PPP loan fraud investigation from SBA

The U.S. Small Business Administration said it's investigating the Prestamos financial division of Phoenix-based Chicanos Por La Causa and others.

Arizona , United-states , Texas , America , David-adame , Hockridge-reis , Nate-reis , Katie-hobbs , James-clyburn , Stephanie-hockridge-reis , Cross-river-bank , Customers-bank

Two Fintech Companies Fueled Extensive PPP Loan Fraud, House Report Finds

Executives at Womply and Blueacorn, which facilitated millions of Paycheck Protection Program loans, flouted rules and themselves collected improper loans, investigators said.

San-francisco , California , United-states , New-york , Jamese-clyburn , Stephanie-hockridge , Chris-hurn , Nathan-reis , Justice-department , Paycheck-protection-program , Small-business-administration , House-select-subcommittee

They Promised Quick and Easy PPP Loans. Often, They Only Delivered Hassle and Heartache.

More than a million government-approved loans ended up being canceled, including some that would have gone to people who needed the loans and applied just as they were told.

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Crossroads Systems to Acquire Leading Small Business Lender, Fountainhead

/PRNewswire/ -- Crossroads Systems, Inc. (OTCQX: CRSS) ("Crossroads" or the "Company"), a holding company focused on investing in businesses that promote...

United-states , Dallas , Texas , America , Chris-hurn , Matt-glover , Tom-colton , Eric-donnelly , Andy-boian , Community-development-financial-institution , Crossroads-systems-inc , Company-contact

Judge Tosses PPP Class Action Against Nonbank Lender

A California federal judge dismissed with prejudice a putative class action Wednesday against nonbank lender Fountainhead Commercial Capital LLC, which had been accused of prioritizing high-dollar applicants for federal Paycheck Protection Program loans.

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Why the SBA withdrew threat to audit PPP lenders

Why the SBA withdrew threat to audit PPP lenders
americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.

New-york , United-states , New-jersey , America , American , Robert-fisher , Richard-hunt , Jim-hagedorn , Patrick-kelley , Blaine-luetkemeyer , Roger-williams , Chris-hurn

The Paycheck Protection Program Is Officially Out Of Money

by Tyler Durden
Sunday, May 09, 2021 - 03:20 PM
The Paycheck Protection Program has officially "run out of money", hopefully putting an end to what was likely one of the most abused and poorly watched over government cash troughs ever created.
The program has run out of money before its planned May 31 end date, the Small Business Administration said, according to CNBC.
The program will only accept new applications from community financial institutions, which "which typically serve minority borrowers", the report said. The SBA will fund outstanding approved applications (like Ross Gerber's?) but won't accept new applicants.
The announcement comes weeks after the PPP was extended through the end of May.

Sam-sidhu , Chris-hurn , Ross-gerber , Venue-operators-grant-program , Paycheck-protection-program , Customers-bank , Restaurant-revitalization-fund , Customers-bancorp , Small-business-administration , West-reading , Pennsylvania-based-customers-bancorp , Fountainhead-commercial-capital