Credit: Eduardo Davad from PixabayPhoto file Some 142,000 New Jersey businesses have shared nearly $ 15.8 billion in federal emergency loans under the nation’s main coronavirus relief program for businesses. An NJ Spotlight News analysis of loan approval amounts released by the US Small Business Administration (SBA) on Wednesday in response to a court order…

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ACOVID-19-19 spread across America, its fiscal and monetary czars donned their masks, bumped their elbows and presented a united front. Jerome Powell, Chairman of the Federal Reserve, cut interest rates and bought treasury bills and mortgage debt. Steve Mnuchin, Treasury Secretary, pushed through a $ 2.2 billion stimulus package that increased unemployment benefit generosity and…

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This is an archived article and the information in the article may be out of date. Please look at the history’s timestamp to see when it was last updated. Treasury Secretary Steven Mnuchin said on Thursday he would not extend several emergency loan programs put in place with the Federal Reserve, a move that could…

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Months after opening up its emergency loans to nonprofits, the Federal Reserve officially granted credit to its first borrower: a Division 1 varsity athletic conference. If the Sun Belt Conference’s experience with the program is any indication, confusion over program terms – and strict eligibility requirements – may prevent more nonprofits from obtaining their own…

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WASHINGTON – A political fight is brewing over whether to extend the critical programs the Federal Reserve has rolled out to help maintain credit to businesses and municipalities amid the pandemic-induced recession. The dispute has the potential to disrupt financial markets, which have calmed down considerably since the Fed announced in March and April that…

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The Treasury is expanding its emergency business lending program and will allow businesses to ‘top up’ their borrowing under new rules meant to keep businesses afloat during England’s second foreclosure. UK businesses will now have until the end of January to apply for emergency business loans, including Bounce Loans (BBLS), Coronavirus Business Interruption Loans (CBILS)…

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The US Small Business Administration has approved more than 120,000 economic disaster loans totaling $ 7 billion to Garden State small business owners who have suffered lost income due to COVID-19. SBA regional administrator Steve Bulger further said 157,000 companies had accessed nearly $ 18 billion in loans through the Paycheck Protection Program, intended to…

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The federal government is about to begin forgiving emergency small business loans under the Paycheck Protection Program. But the exact start time of application approvals and whether loans of a certain size would automatically qualify for a forgiveness remain unclear. On Thursday, a Treasury Department spokesperson confirmed by email that the Small Business Administration will…

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