Several tri-county companies got at least $5M in PPP funding
At least a dozen companies in the Tri-Counties received more than $5 million each in Paycheck Protection Program funding since the start of the COVID-19 pandemic, according to data released July 6 by the Trump administration. The companies’ names were listed because of the size of the loans they took out. All companies who took Read More →
Garufis: Bankers busy with second round of PPP
By Janet Garufis It’s after 8 p.m. on April 27, the day the second tranche of PPP funding was made available by the Small Business Administration, and I’ve just completed our PPP update call with the dedicated group of Montecito Bank & Trust professionals who are responsible for making PPP a reality for hundreds of Read More →
PPP problems persist as tri-county banks try to make more loans
The Payroll Protection Program’s second round of funding started on April 27, but some of the issues from the first round are vexing Central Coast bankers and borrowers. Among technical problems, the Small Business Administration’s website has crashed, limiting the number of applications banks can process at one time. Additionally, financial regulations meant to guard Read More →
Banks ramp up loans to tri-county small businesses
It’s not too late for tri-county small businesses to get financial aid from the government to help offset COVID-19 losses. President Donald Trump signed a $484 billion relief package bill April 24 containing the awaited second wave of Payroll Protection Program funding. The program originally had $349 billion for small businesses but ran out of Read More →
Garufis: Bankers want to fund small business loans
By Janet Garufis Last week, Henry Dubroff stepped out of his usual pundit role to share his impression of the Paycheck Protection Program rollout. I echo his sentiments and agree that it has been “a nightmare for many small business owners.” It has also been a challenging experience for many of your local bankers. I Read More →
Chien: Now might be time for a small business loan
By Chia-Li Chien Many states, including California, identified a list of critical sectors to remain operational during the COVID-19 crisis. The rest of us need to work from home or close our businesses until further notice. The stock market reacts to the uncertainty in this public health crisis volatilely. The ripple effect causes the federal Read More →
Dubroff: When it comes to the PPP, we’re not in it together
This does not feel like a team effort. I’m stepping out of my role as pundit this week and putting on my hat as a small business owner. And I am here to state that the rollout of the Paycheck Protection Program has been a nightmare for many small business owners. Every day I get Read More →
