Loans
Old technology forces Education Department to delay new FAFSA application
The Department of Education informed Congress on Friday that decades-old technology has forced the department to delay the implementation of a new, simplified application for students seeking federal financial aid, Politico reports. Why it matters: The department was required by a law that Congress passed last year to start using the new Free Application for …
Breaking Down PPP Loans in CT – NBC Connecticut
Pastor Candi Stewart used to greet everyone who walked into the International Family Center in New London with a hug. During the COVID-19 pandemic, Pastor Candi and her husband have replaced those hugs with virtual high fives. When the virus hit Connecticut last year, the Stewarts knew their aging building needed some upgrades. They invested …
NERDWALLET: Breaking down the tax implications of PPP loans | Business
The approaching tax season is raising fresh questions for business owners who received a loan through the Paycheck Protection Program. Can you deduct expenses paid with your loan funds? Do you need to do anything differently this year? And if your loan is forgiven, is it considered taxable income? Answers to these questions have been …
Biden extends break on repaying student loans
The Education Department said Wednesday night that at President Joe Biden’s request, it is continuing to give student loan borrowers a break from making their monthly payments for another nine months, until Sept. 30. The department’s student aid website was also updated to reflect the pause had been extended. The department said the order came from Phil Rosenfelt, who …
Borqs Technologies Enters Into Agreements to Extinguish Debt Totaling Approximately $18 Million and to Eliminate Institutional Loans Nasdaq:BRQS
SANTA CLARA, Calif., Dec. 24, 2020 (GLOBE NEWSWIRE) — Borqs Technologies, Inc. (Nasdaq: BRQS, the “Company”), a global provider of embedded software and products for the Internet of Things (IoT), today reported that the Company has entered into Agreements dated December 14, 2020 with its senior lender and LMFA Financing LLC (“LMFA”), a Florida limited …
Using satellite to give loans: ICICI Bank deploys unique technology to provide hassle-free farm loans
ICICI Bank said that the use of innovative technology helps farmers with existing credit to enhance their eligibility. (Bloomberg image) In a major step towards providing hassle-free loans to farmers, ICICI Bank today said that it is using satellite images to assess credit worthiness of farmers. The bank added that the use of innovative technology …
Breaking it down: How North Texas PPP loans stack up by ZIP code
Which areas of Dallas-Fort Worth — and industries — benefited most from the SBA’s PPP? The Small Business Administration recently released data on the Paycheck Protection Program earlier this month and it shows a partial breakdown of how the distribution of the loan money played out in North Texas. The portion of PPP loan information …
Mnuchin Calls for Forgiving PPP Loans to Smallest Businesses
WASHINGTON—Congress should consider automatically forgiving Paycheck Protection Program loans taken out by the smallest U.S. businesses—and offer a second helping of aid to firms hard hit by the pandemic, Treasury Secretary Steven Mnuchin said Friday. The comments came at a House Small Business Committee hearing, where lawmakers in both parties signaled they want to push …
The Technology 202: Many tech companies received large coronavirus relief loans
Prominent tech companies that have raised millions in venture capital funding were among the recipients of some of the largest loans distributed by the federal government to small businesses during the coronavirus pandemic. The car rental service Getaround, the dog product business BarkBox, the insurance business MetroMile and cybersecurity company IronNet are among the companies …
Small Business Loans Flowed to Health Care, Construction and Big States
The administration said that the money allocated through the program so far had helped support more than 50 million jobs. The share of overall small business payroll supported per state ranged from 72 percent in Virginia to 96 percent in Florida, according to the Treasury release. The Paycheck Protection Program offers businesses with 500 or …
