Requiring so little from applicants and giving so little guidance to them is virtually begging for fraudulent loan applications to be submitted or for good faith errors to be made.
Jo Jagadish, who joined TD Bank in April as head of commercial products and payments innovation, spent her childhood moving from country to country, so she's used to a world without borders — the kind of world emerging from the capabilities of fintech and demands of the pandemic.
The U.S. Small Business Administration has posted rules about how businesses who have been turned down for forgiveness of their Paycheck Protection Program loans can appeal the decision.
Among the pandemic-related issues covered are how to handle the Paycheck Protection Program and other stimulus efforts.
A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses.
The owner of The Shuckery in Petaluma, Calif., says she was unable to get a Paycheck Protection Program loan until she responded to an email from the delivery service and BlueVine.
The American Institute of CPAs joined with more than 170 organizations in asking congressional leaders to allow businesses to write off expenses associated with loan forgiveness under the Paycheck Protection Program.
Square's gross payment volume tumbled by 15% year-over-year due to COVID-19’s impact, but revenue jumped as online selling rose, Cash App doubled in users and Square enabled almost $900 million in PPP loans.
Granting and forgiving loans in different years can create problems.
This personal funding has blurred the line between personal and business finances more than ever.