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Small energy players lean on taxpayers and Wall Street for coronavirus aid

Small energy players lean on taxpayers and Wall Street for coronavirus aid

By: Devika Krishna Kumar, Tim McLaughlin
Source: Reuters
Date of Publication: October 5th, 2020
Several publicly traded energy companies took millions of dollars in U.S. taxpayer-funded loans to support their businesses even as those firms had access to other ways to generate cash, according to a Reuters analysis of U.S. Securities and Exchange Commission and other government data.
U.S. bank deposits not worth what they were before COVID-19

U.S. bank deposits not worth what they were before COVID-19

By: David Henry
Source: Reuters
Date of Publication: July 20th, 2020
Big banks are making a lot less money from their deposits than they did before the coronavirus pandemic.
As big U.S. banks let customers delay payments, loan losses remain unclear

As big U.S. banks let customers delay payments, loan losses remain unclear

By: Elizabeth Dilts Marshall, Imani Moise
Source: Reuters
Date of Publication: July 17th, 2020
Major U.S. bank executives this week said they extended forbearance programs to millions of credit card, auto loan and mortgage customers who were financially hard hit by the coronavirus pandemic.
US banks warn of much more economic pain ahead

US banks warn of much more economic pain ahead

By: Julia Horowitz
Source: CNN Business
Date of Publication: July 15th, 2020
The biggest US banks are setting aside billions of dollars to deal with toxic loans as support from the government falls off in the months ahead, a sign that some of the worst economic damage from the pandemic is still to come.
U.S. pandemic aid program saved 51.1 million jobs, but wealthy and connected also benefited

U.S. pandemic aid program saved 51.1 million jobs, but wealthy and connected also benefited

By: Michelle Price, David Lawder, Lawrence Delevingne
Source: Reuters
Date of Publication: July 6th, 2020
A high-profile pandemic aid program protected about 51.1 million American jobs, the Trump administration said on Monday, as it revealed how $521.4 billion in taxpayer cash was injected into small businesses but also into the pockets of the rich and famous.
PPP recipients can apply early for loan forgiveness, SBA says

PPP recipients can apply early for loan forgiveness, SBA says

By: Jeff Drew
Source: Journal of Accountancy
Date of Publication: June 23rd, 2020
New Paycheck Protection Program (PPP) guidance released Monday night declares that PPP recipients can apply for loan forgiveness early but that doing so could cost them money.
United to Put Up Frequent-Flier Program for $5 Billion Loan_WSJ

United to Put Up Frequent-Flier Program for $5 Billion Loan

By: Alison Sider
Source: The Wall Street Journal
Date of Publication: June 15th, 2020
United expects to have $17 billion in liquidity by the end of the third quarter as it grapples with the impact of the coronavirus pandemic.
Gap stops paying rents, warns it might not have enough cash

Gap stops paying rents, warns it might not have enough cash for operations

By: Lauren Thomas
Source: CNBC
Date of Publication: April 23rd, 2020
Gap said it must take further action to find liquidity over the next 12 months, such as additional job cuts and new debt financing. The company said it did not pay rent on its shuttered stores in April, which amounts to roughly $115 million in monthly expenses in North America.
Goldman Sachs Increases COVID-19 Relief Efforts to $550 Million

David Solomon, Top Financial Services Executives, Participate in White House Conference on Small Businesses

By: Goldman Sachs
Source: Goldman Sachs
Date of Publication: April 7th, 2020
David Solomon, Chairman and CEO of Goldman Sachs, joined a White House video conference today with President Donald Trump, senior administration officials, and other leading executives from the financial services industry to discuss efforts to deliver financial and technical assistance to US small businesses in response to the COVID-19 pandemic. In David’s prepared remarks, he doubled the firm’s capital commitment, which raised the total to $550 million for all COVID-19 relief efforts from Goldman Sachs.
Goldman Sachs Commits $300 Million to Support Communities and Small Business

Goldman Sachs Commits $300 Million to Support Communities and Small Business

By: Goldman Sachs
Source: Goldman Sachs
Date of Publication: April 2nd, 2020
The Goldman Sachs Group, Inc. today announced it will deliver $300 million across two separate initiatives to help small businesses and communities around the world navigate the current health and economic crisis.