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.
Powerball: See the winning numbers in Saturday’s $149 million drawing
It’s time to grab your tickets and check to see if you’re a big winner! The Powerball lottery jackpot continues to rise after one lucky winner in Kansas won $93 million in the November 19 drawing. Is this your lucky night? Here are Saturday’s winning lottery numbers:...
US charges Sam Bankman-Fried with defrauding investors
The US Securities and Exchange Commission (SEC) has charged Sam Bankman-Fried with "orchestrating a scheme to defraud investors" in the failed cryptocurrency exchange FTX. The former FTX boss was arrested on Monday. Mr Bankman-Fried built a "house of cards on a...
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