The Main Street Lending Program is designed for small and mid-sized businesses struggling because of the coronavirus slowdown and that don’t qualify for the Small Business Administration’s Paycheck Protection Program or the Economic Injury Disaster Loan program, and can’t access other forms of capital.
Companies with less than 15,000 people or annual revenue of up to $5 billion are eligible, the Fed said today ; companies that have received PPP loans are still eligible for the Main Street program. The central bank will then buy either 95% or 85% of every loan up to $600 billion to ease the burden on banks’ balance sheets.
theothersarahh Loans aren’t handouts or bailouts. It’s actually slavery in a global recession
theothersarahh Perfect. Another government handout that doesn’t help anyone. 3% above libor? It’s laughable
theothersarahh You Should Know This NORTH KOREA TRUTH
theothersarahh
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SBA Announces Special PPP Application Window Just For Smaller LendersRobin Saks Frankel is a credit cards and personal finance writer for Forbes Advisor. Previously, she covered credit cards and related content at other national web publications including NerdWallet, Bankrate and HerMoney. She's been featured as a personal finance expert in outlets including CNBC, Business Insider, CBS Marketplace, and has appeared on or contributed to Fox News, CBS Radio, ABC Radio, NPR, International Business Times and NBC, ABC and CBS TV affiliates nationwide. Follow her on Twitter at robinsaks. Yeah because small businesses like mine don't (we do we do!) use large banks right?!? Say NO to more debt!
Source: Forbes - 🏆 394. / 53 Read more »
Luxury hotels benefited from PPP loans. So did the investment trusts that own themThe Ritz-Carlton on Peachtree Street in Atlanta’s downtown boasts well-appointed suites with skyline views, chic amenities and a cocktail bar that slings $17 juleps. To offset the financial impact of the virus, the hotel applied for a potentially forgivable loan through the federal government’s Paycheck Not shocked that this happened.
Source: YahooNews - 🏆 380. / 59 Read more »