The Small Business Administration is asking Paycheck Protection Program lenders to withdraw any application that has not yet been approved so that small businesses can apply elsewhere.
The SBA said that if lenders do not remove their loans, the agency will remove them on May 17, 2021, according to a message sent to lenders by the agency’s Office of Capital Access, which oversees the program. The move is intended to give small businesses time to apply for a PPP loan anew with a community financial institution, which are allowed to keep making loans under a multibillion dollar set aside reserved for small lenders such as Community Development Financial Institutions and Minority Deposit Institutions.
Small businesses have until May 31 to apply for a PPP loan with the SBA, which has until the end of June to approve any such loans.
Read the full story on cleveland.com’s sister site, Cleveland Business Journal.
Najib Mikati promises justice for Irish UN peacekeeper killed in Lebanon
Lebanon is determined to uncover the circumstances that led to the killing of an Irish UN peacekeeper, caretaker prime minister Najib Mikati said during a visit to the headquarters of the UN Interim Force in Lebanon (Unifil) on Friday. Private Sean Rooney, 23, was...
US appeals court says lawsuit against Lebanese bank can proceed
A US court of appeals has ruled that cases against Lebanese commercial banks can be tried outside Lebanon, paving the way for more cases by depositors seeking to unlock their frozen funds. The court decision, issued on Thursday in a case brought by Lebanese depositors...
Submit your event
We will be happy to share your events. Please email us the details and pictures at publish@profilenewsohio.com
Address
P.O. Box: 311001 Independance, Ohio, 44131
Call Us
+1 (216) 269 3272
Email Us
Publish@profilenewsohio.com