Category: Business News

Chase and other big banks shuffled Paycheck Protection Program small business applications, lawsuit says

Chase and other big banks shuffled Paycheck Protection Program small business applications, lawsuit says

CLOSE Here are four ways consumers can help support small businesses who are struggling financially during the coronavirus pandemic. Wochit Two companies in California filed a class-action lawsuit against JPMorgan Chase bank alleging unfair business practices toward some small businesses that applied for coronavirus-related loans under the government’s Paycheck Protection Program. In the suit filed on Sunday, a cybersecurity…

Top House Republican Backs Adding Hospital Funding to Small-Business Package

Top House Republican Backs Adding Hospital Funding to Small-Business Package

WASHINGTON—The top House Republican said he would support adding money for hospitals to funding for a popular small-business aid program, pointing the way to a potential breakthrough in stalled talks with Democrats on the current round of stimulus spending. In an interview, House Minority Leader Kevin McCarthy (R., Calif.) said he would pair hospital funding…

Harvard EdCast: School Leadership During Crisis

There is no guidebook for school leaders as they make decisions and try to move forward during the pandemic. With more than 55 million children out of school right now, Professor Deborah Jewell-Sherman knows that the uncertainty is a challenge for school leaders who are often used to orderliness and control. “Every school, and every…

Small-business loan program just hit its $350 billion cap and is now out of money

Small-business loan program just hit its $350 billion cap and is now out of money

One of the main coronavirus relief fund sources for suffering small businesses hit its $350 billion limit Thursday and is no longer accepting any more lenders or applications, the Small Business Administration announced. “The SBA is currently unable to accept new applications for the Paycheck Protection Program based on available appropriations funding,” SBA spokesperson Jennifer…