Small business financing

In this Thursday, April 30, 2020, photo storage tanks at a refinery along the Houston Ship Channel are seen with downtown Houston in the background. Like in other cities, the coronavirus has shut down much of Houston's economic activity, slashing thousands of jobs, while at the same time, the price of oil plunged below zero recently as demand plummeted due to the worldwide lockdown to stop the spread of the virus. This one-two punch from COVID-19 and the collapse in oil prices will make it much harder for Houston to recover from a looming recession, according to economists. (AP Photo/David J. Phillip)
May 14, 2020 - 1:33 pm
Almost 75% of small businesses applied for help from a federal loan program designed to keep workers employed during the coronavirus pandemic, but only 38% of small businesses received any money, according to results from a U.S. Census Bureau survey released Thursday. Oil extraction and mining...
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House Majority Whip James Clyburn of S.C., speaks during a news conference on Capitol Hill Thursday, April 30, 2020, in Washington. (AP Photo/Manuel Balce Ceneta)
May 08, 2020 - 7:47 pm
WASHINGTON (AP) — A Democratic-led subcommittee overseeing federal coronavirus aid is demanding that five companies return loans the panel says should have gone to smaller businesses. The subcommittee led by Rep. James Clyburn, D-S.C., sent letters Friday to the companies as its first official...
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FILE - In this April 29, 2020 file photo, a man walks past a closed business in Shaker Heights, Ohio. Many people consider the Paycheck Protection Program that promised nearly $670 billion in forgivable loans to help companies rehire laid-off workers to already be a success because millions of businesses have gotten the money. But owners and business groups have said loans weren’t getting to companies most in need and it wasn’t arriving fast enough. (AP Photo/Tony Dejak, File)
May 07, 2020 - 4:52 pm
NEW YORK (AP) — The Trump administration has dispensed about $530 billion to millions of small businesses to cushion them from the sharp downturn induced by the coronavirus. The question is: how effective will the Paycheck Protection Program be? Some small business owners say the program’s low-cost...
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This April 29, 2020 photo provided by Rodney Morine, shows Morine preparing to make a delivery in Opelousas, La. Morine believes his second chance is no better than his first to secure a loan through a government program intended to help small businesses like his survive the pandemic. “I have zero confidence,” said Morine, an independent truck driver in Opelousas, Louisiana, whose revenues have dropped by half since the coronavirus outbreak hit the U.S. (Amani Simmons via AP)
May 04, 2020 - 1:42 am
WASHINGTON (AP) — Rodney Morine believes his second chance is no better than his first to secure a loan through a government program intended to help small businesses like his survive the pandemic. “I have zero confidence,” said Morine, an independent truck driver in Opelousas, Louisiana, whose...
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FILE - In this April 28, 2020 file photo, a closed sign is posted at a restaurant along the River Walk in San Antonio. Banks are reporting a little more success in getting small business owners’ applications for coronavirus relief loans into government processing systems. Bank industry groups says changes the Small Business Administration made in its procedures apparently are helping lenders trying to submit thousands of applications for $310 billion in loans. (AP Photo/Eric Gay, File)
April 29, 2020 - 2:25 pm
NEW YORK (AP) — The smallest companies seeking coronavirus relief loans were moving to the head of the line Wednesday as the Small Business Administration said that for eight hours ending at midnight Eastern time it would accept loans only from small lenders. The step was being taken to ensure that...
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FILE - In this April 23, 2020 file photo, a sign is posted on a closed store in North Miami, Fla. Banks trying to submit applications for thousands of small businesses seeking coronavirus relief loans have hit a bottleneck for a second day at the Small Business Administration. Banking industry groups say the SBA’s loan processing system is still unable to handle the volume of loan applications from business owners trying to get aid under the Paychceck Protection Program, part of the government’s $2 trillion coronavirus aid program.(AP Photo/Wilfredo Lee, File)
April 28, 2020 - 6:35 pm
NEW YORK (AP) — The government says it has approved an additional $50 billion in loans to small businesses, although banks are complaining that a bottleneck at the Small Business Administration is severely slowing the process. Banking industry groups said Tuesday that the SBA’s loan processing...
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FILE - In this April 2, 2020 file photo, "For Sale By Owner" and "Closed Due to Virus" signs are displayed in the window of a store in Grosse Pointe Woods, Mich. The second round of loan applications for the government's small business relief program has been slowed by computer issues at the Small Business Administration. Lenders complained Monday, April 27, that they couldn't get their applications into the SBA system known as ETran that processes and approves loans. (AP Photo/Paul Sancya, File)
April 27, 2020 - 6:42 pm
NEW YORK (AP) — The second round of loan applications for the government's small business relief program has been slowed by computer issues at the Small Business Administration. Lenders complained Monday that they couldn't get their applications into the SBA system known as ETran that processes and...
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FILE - In this March 3, 2017, file photo, Los Angeles Lakers president Jeanie Buss sits in the stands prior to an NBA basketball game between the Lakers and the Boston Celtics in Los Angeles. The Lakers have repaid a loan of roughly $4.6 million from coronavirus business relief funds after learning the program had been depleted. (AP Photo/Mark J. Terrill, File)
April 27, 2020 - 5:14 pm
LOS ANGELES (AP) — The Los Angeles Lakers have repaid a loan of roughly $4.6 million from coronavirus business relief funds after learning the program had been depleted. The Lakers applied for the loan under the Small Business Administration’s Paycheck Protection Program, a part of the federal...
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In this handout photo provided by 10 Downing Street, Britain's Chancellor of the Exchequer Rishi Sunak speaks during a media briefing on coronavirus in Downing Street, London, Monday April 20, 2020. (Pippa Fowles/10 Downing Street via AP)
April 27, 2020 - 12:11 pm
LONDON (AP) — More than 4 million jobs have been saved in the U.K. as a result of a government scheme aimed at making sure firms hold onto staff during the coronavirus lockdown, Treasury chief Rishi Sunak said Monday. In a statement to lawmakers, Sunak said half a million firms have taken advantage...
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April 26, 2020 - 3:38 pm
Three publicly traded hotel companies tied to a Texas businessman said that they would not give back millions of dollars in loans from a government program aimed at helping small businesses. Facing pressure from the government, several big companies, including the Potbelly and Shake Shack...
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