The Fed wants to lend money to more small businesses, but many aren't interested

Nov 2, 2020
The central bank dropped the minimum loan amount under its Main Street Lending Program to $100,000. But not many businesses feel confident taking out loans they'll have to repay in five years.
A bartender prepares to open his bar in Ocean City, Maryland, amid the pandemic, May 29, 2020.
Alex Edelman/AFP via Getty Images

Bankers want businesses to know "there’s still money" for PPP loans

Jun 3, 2020
Laurie Stewart, CEO of Seattle-based Sound Community Bank, says the bank has made more than 700 loans through the program.
Laurie Stewart, CEO of Seattle-based Sound Community Bank, says her bank has funded PPP loans as small as $900.
Mark Wilson/Getty Images

SBA temporarily shuts out big banks and businesses from Paycheck Protection Program

For eight hours, only smaller banks were able to process applications.
How can regulators make sure small businesses are the ones getting this money?
Cindy Ord/Getty Images

Upper Midwest, Great Plains states have fared best in SBA emergency loan program

Apr 23, 2020
As Congress weighs a new round of funding, data reveal that the upper Midwest and Great Plains regions benefited the most from the first round of PPP funding.
With the coronavirus closing many businesses, the Paycheck Protection Program saved  millions of jobs that would have been lost, according to MIT research.
Justin Sullivan/Getty Images

A small gelato business confronts big questions

Apr 22, 2020
The owner of two Los Angeles stores shares her fears and hopes about surviving the coronavirus pandemic.
Courtesy of Uli Nasibova

The small business loans program is basically out of cash. What's next?

There's concern that the hardest hit businesses aren't getting enough help.
There's bipartisan agreement over the fact that there should be more money available, but members of Congress are at odds on how to get it done.
Johannes Eisele/AFP via Getty Images

Small businesses seeking loans to cover COVID-19 losses face confusion, frustration and uncertainty

The loan program was designed before we understood how long this crisis might last, Amanda Ballantyne of Main Street Alliance says.
Jason Kempin/Getty Images

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For small businesses, promise of federal emergency loans turns into "waiting game"

Apr 7, 2020
Banks are starting to process applications for loans from the federal government’s Paycheck Protection Program, but businesses aren’t sure when they’ll see the checks.
The small business loan part of the stimulus package is still causing uncertainty.
Christian Petersen/Getty Images

The Fed steps in to finance COVID-19 relief loans for small businesses

Apr 7, 2020
The Federal Reserve is creating a "lending facility" to keep things running smoothly for small business loans.
The central bank is finding new ways for it to finance the loans commercial banks are being told to write to small businesses.
Olivier Douliery/AFP via Getty Images

The small business loan rollout wasn't so smooth

Apr 6, 2020
The Small Business Administration is guaranteeing paycheck protection loans. But applying for one of them hasn't been so simple.
"I'm just inclined to feel like a week wasn't enough to organize, you know, a $350 billion small loan program," one business owner said.
Spencer Platt/Getty Images

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