Small business lending

The agency had intended to block access to tax data by most lenders on June 30 as part of a policy change that sought to protect taxpayer privacy. But drew broad opposition from the financial services industry.

The agency plans to restrict access to a system that provides borrower tax returns to mortgage lenders beginning June 30. Left out of the loop, small-business lenders say getting credit to borrowers will become more difficult as a result.

The Small Business Administration is increasing the cap for COVID Economic Injury Disaster Loans from $500,000 to $2 million.

The portal offer a streamlined way to seek loan forgiveness, but accountants are watching for the revenue reduction scores the SBA is using to make determinations.

Replicon's intelligent time tracking app is available for SAP, Mavenlink adds staffing module, and Compass Lending Platform rebrands as Javelin.

The cloud-based solution provides dashboard visualization and other tools for managing clients' loan forgiveness applications.

Borrowers or their accountants can fill out the forgiveness application and the tool produces all government-mandated forms automatically.

As applications for the second wave of PPP loans move into the final phase, many businesses will be asking: What do I do next if I don’t secure this loan?

The payroll provider has been partnering with accountants to help them secure loans for their small businesses.

PayPie is offering access to its network of Small Business Association-authorized lending partners to businesses seeking funds through the SBA Payroll Protection Program during the COVID-19 pandemic and economic slowdown.