Eight weeks in, businesses face hard choices over PPP loans

May 22, 2020
The federal relief loans can be forgiven if businesses spend 75% on payroll within eight weeks. For some businesses, that's a problem.
A bar in New York sells cocktails to go in March. Small businesses are still struggling eight weeks after the CARES Act became law.
Victor J. Blue/Getty Images

Citi plans to buy PPP loans from minority-owned lenders

May 21, 2020
The arrangement would allow minority-owned lenders to take PPP loans off of their balance sheets.
Citi says it will purchase $50 million in loans from minority-owned lenders.
Bruce Bennett/Getty Images

SBA says PPP loans are getting smaller in the second round of lending

May 20, 2020
Business advocates say that's a sign smaller businesses are finally getting the loans they applied for.
The SBA's changes for the latest round of lending appear to be helping smaller businesses.
Olivier Douliery/AFP via Getty Images

Treasury offers new guidance on PPP loan forgiveness

May 19, 2020
The new application form for the forgiveness program offers some clarification on significant points.
The new guidelines mean businesses can bring back fewer employees and still meet the Treasury’s forgiveness requirements.
Joe Raedle/Getty Images

This flower company survived Mother’s Day, but the future remains uncertain

May 11, 2020
“If there’s a recession on the horizon, we’re all just going to be at the mercy of what that looks like,” said Christina Stembel, CEO of Farmgirl Flowers.
For companies like Farmgirl Flowers, the second weekend in May is one of the most important of the year.
Boris Horvat/AFP via Getty Images

Coastal states win greater share of PPP's second round

May 8, 2020
Unlike the first round, the second round of the Paycheck Protection Program has largely favored coastal states. New York, New Jersey, California and Washington, D.C. received the most loans relative to their share of the US population.
A shuttered restaurant in Los Angeles. Coastal states fared better in the second round of Paycheck Protection Program funding.
Frederic J. Brown/AFP via Getty Images

Receiving a PPP loan is one thing. Having it forgiven is another.

May 7, 2020
Businesses that have received PPP loans have to carefully manage how they spend the money if they want those loans to be forgiven.
A waitress disinfects a table at a restaurant on May 5 in Stillwater, Oklahoma. One requirement of the Paycheck Protection Program is to bring back all full-time-equivalent employees.
Johannes Eisele/AFP via Getty Images

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Banks eager to help clients get PPP cash while funds are available

May 4, 2020
The second round of Paycheck Protection Program funding has yet to be exhausted.
An empty coffee shop in New York. Many small businesses may rely on the second round of PPP loans.
Spencer Platt/Getty Images

For some small businesses, paycheck protection loans aren't the answer

Apr 29, 2020
The loans, designed to help businesses hurt by COVID-19, come with requirements that some don't want to take on.
Some eateries decided they couldn't hire back all of their employees.
Spencer Platt/Getty Images

Minority-owned businesses struggle to access emergency loans

Apr 28, 2020
Many of their lenders were excluded from the Paycheck Protection Program.
There's criticism that smaller and minority-owned businesses didn't get their fair share from the first round of the Paycheck Protection Program funding.
Spencer Platt/Getty Images