The Federal Reserve’s Main Street Lending Program is meant to be a lifeline for midsize businesses, but two weeks after its unveiling, those firms and their lenders remain on edge about what strings will be attached.
The president said he envisions infrastructure as “a big part” of the next round of emergency legislation.
The new federal COVID-19 relief package probably won’t be the last boost the U.S. economy will get, economists say.
Firms that create virtual assistants for financial institutions are training their bots to answer questions about the pandemic and relieve phone lines from a barrage of customer calls.
The new bill to replenish the Paycheck Protection Program clarifies that hospitals created as political subdivisions are eligible.
Businesses have turned to workarounds to accommodate the coronavirus’ impact on brick-and-mortar stores, emergency measures that will likely become permanent in order for these businesses to survive into the future.
History offers valuable lessons for anticipating the profession’s reaction to the pandemic in terms of mergers and acquisitions.
The program, created in response to the 2008 financial crisis, generated $19 billion in small-business loans. It could be used as a viable path out of the coronavirus pandemic.
The online lender, reeling from the economic fallout of the coronavirus pandemic, also said it is cutting senior executives' salaries by 25%.
The House is expected to vote later this week on the bill expanding emergency relief for small businesses reeling from the effects of the coronavirus.