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Tag: Loans


Construction Processes, Financial

SBA withdraws controversial PPP questionnaire

July 13, 2021

Via: Construction Dive

In May 2020, the SBA mandated that businesses that received loans of more than $2 million complete a questionnaire regarding their operations and financial conditions during the pandemic. It requested information about gross revenues, capital improvement projects, dividend payments and […]


Construction Processes, Financial

Construction firms nab $13.7B total in PPP loans so far this year

February 16, 2021

Via: Construction Dive

The new SBA data provides a snapshot of the types of businesses that received loans this year and the sizes of the loans. The average loan across all industries was $78,000, and about 70% were for less than $50,000. About […]


Construction Processes, Financial, Legal

House panel blasts banks over gap in PPP processing time

October 20, 2020

Via: Construction Dive

A scathing report published Friday by the House Select Subcommittee on the Coronavirus Crisis illustrated the gulf in Paycheck Protection Program (PPP) loan application processing times at several large banks. JPMorgan Chase processed PPP loans of more than $5 million […]


Construction Processes, Financial, Legal

Construction’s Paycheck Protection Loan Volume Climbs 42% Since April

June 22, 2020

Via: ENR

Construction’s volume of federal Paycheck Protection Program loans has jumped 42% since mid-April, updated Small Business Administration data show, but construction’s ranking slipped to third among industries, from first place after PPP’s first round of funding. The latest SBA ranking, […]


Construction Processes, Financial

Non-PPP financial relief options for contractors

June 15, 2020

Via: Construction Dive

As construction projects around the country begin to reopen after COVID-19 shutdowns, contractors are returning to work. Whether because of reduced customer demand or government mandate, many have endured months of inactivity and the lack of revenue to go along […]


Construction Processes, Financial, Legal

Senate Votes to Add $310B to ‘Paycheck Protection’ Loans, $75B for Health Care

April 21, 2020

Via: ENR

The U.S. Senate approved on April 21 a compromise measure to inject $310 billion into the now-empty Paycheck Protection Program (PPP)—which aims to assist financially strapped small businesses, including those in construction, engineering and building materials—with forgivable loans to help […]