Heard on the Street – here’s what we were reading last week:
Small Businesses Tackle New PPP Puzzle: Forgiveness: Small businesses that received government-backed loans to ease the pain of the coronavirus pandemic are beginning to turn to a process some say is as complex as getting the money: figuring out whether they have to pay it back.
Amazon And Goldman Sachs: A Small Business Lending Wake-Up Call For Banks: Amazon and Goldman Sachs announced a partnership to provide lines of credit up to $1 million to merchants selling on the Amazon platform. It’s also important to note how the Amazon/Goldman Sachs approach will differ from the traditional bank approach: Goldman will cherry pick who they want to lend to and send invitations to apply through Amazon, keeping processing costs down.
Lowe’s opens applications for $25 million in minority small business grants: Late last month, Lowe’s CEO announced Lowe’s would assist minority-owned businesses with $25 million in grants to support efforts to relaunch the American economy. LISC, the nation’s largest community development organization, will manage the process of vetting applications for grants.