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A modeling agency that represents big-name rappers and pop stars snagged nearly $2 million in loans meant to help small businesses survive the coronavirus crisis. Wilhelmina International — which counts singer Shawn Mendes and hip-hop artist Swae Lee among its celebrity clients — inked deals last week with Zions Bancorporation for two loans worth a …
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Dozens of publicly traded companies — including some with checkered pasts — took $300 million in government-backed loans meant to protect small businesses during the coronavirus crisis, a new report says. At least 75 public firms got low-interest loans through the Paycheck Protection Program, the Trump administration’s $349 billion small-business aid package that ran out …
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Burger giant Shake Shack plans to return $10 million it received from a government loan program meant to protect small businesses during the coronavirus crisis. The New York-based fast food chain was one of several large restaurant companies that got a multi-million-dollar loan through the Trump administration’s $349 billion Paycheck Protection Program aimed at helping …
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Large restaurant chains have gobbled up $30 million in federal loans meant to shore up small businesses during the coronavirus crisis. The companies behind Potbelly Sandwich Shop and Ruth’s Chris Steak House each got sizable loans under the feds’ Paycheck Protection Program, the $349 billion small-business aid package that ran out of money Thursday. Florida-based …
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The Federal Reserve on Thursday unveiled $2.3 trillion new loans to support the economy during the coronavirus crisis. The loan program aims to help businesses, households and state and local governments facing a cash crunch as large parts of the economy have been shut down. “Our country’s highest priority must be to address this public …
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Bank of America said on Friday it has already received about 35,000 applications for federally backed small-business loans within hours of starting to accept them. The second largest US bank by assets became the first major bank to accept applications for the massive small-business rescue program approved by Congress last week. But the bank was …
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Chris Hurn, founder of Fountainhead Commercial Capital, has received 7,400 small business loan requests in the past two weeks, more than his business has handled in its five years of existence. The Lake Mary, Florida-based non-bank lender is just one of thousands of financial institutions across the country preparing to dole out $349 billion in …
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As the federal government prepares to launch a $349 billion loan program meant to help small businesses survive the coronavirus pandemic, critics have growing concerns that some mom-and-pop shops might get squeezed out. The Paycheck Protection Program — part of the $2 trillion relief package signed into law last week — was billed as a …
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Lana Meli’s survivor challenge is the story of tens of thousands of business owners in New York, the region and the nation. The proprietor of Lana’s Loft, a Rockaway Park dress shop, she thinks her small store might survive — but only under the right circumstances: That she receives effective federal help and can re-open …
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Washington is finally beginning to get it. The Federal Reserve has put forth bold initiatives, and followed up with action. The Treasury and the administration have also devised creative plans to go along with the Fed’s actions — and separately helped to develop a robust economic “time-out” package sufficient to help stabilize the economy for …
A modeling agency that represents big-name rappers and pop stars snagged nearly $2 million in loans meant to help small businesses survive the coronavirus crisis. Wilhelmina International — which counts singer Shawn Mendes and hip-hop artist Swae Lee among its celebrity clients — inked deals last week with Zions Bancorporation for two loans worth a …
