The Paycheck Protection Program (“PPP”) fell short in keeping small businesses afloat during the pandemic.1 Congress made it a central provision to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act in a move to emphasize both the vulnerability and the importance of small business. Congress had a plan: provide small businesses with a source…
Tag: small business
Marketplace Lenders Self-Regulate with Small Business Borrower’s Bill of Rights
Last month a collective of lenders, brokers, think tanks, and advocates announced the Small Business Borrower’s Bill of Rights, an effort to self-regulate the market for alternative small business lending. Despite the positive reception of the Bill, its creation has prompted many questions about why such self-regulation is necessary for players in the financial sector….