![]() COVID-19 has spread on ships across nearly half of its brands, infecting hundreds of passengers and killing others. The powerful lobby group, which represents thousands of small banks, added that lenders are "experiencing massive delays and (an) inability to process loans or even access the SBA." - Reuters 12:22 pm: Italy reports 525 new deaths, slowest rise in over two weeksĬarnival, the world's largest cruise operator, has been at the heart of the industry's struggle against the coronavirus. Even those banks with access to the (SBA) system have shared their experiences of significant challenges with user access and latency in application processing," the Independent Community Bankers of America (ICBA) wrote in a letter to the Treasury and SBA on Saturday evening. "Community bankers are frustrated with failed technology links and portals. Treasury Department and the Small Business Administration (SBA). Borrowers could apply for the loans via participating banks from Friday until June 30. The program is being jointly administered by the U.S. lenders are struggling to access the technology system for distributing $349 billion of government rescue loans, while the pot of money is insufficient and will soon be expended, a top banking group warned over the weekend.Ĭongress last month created the unprecedented program as part of a $2 trillion stimulus package to help businesses that have either shut down or have been dramatically curtailed by the coronavirus pandemic. Michael Wayland 2:48 pm: Canada coronavirus deaths jump 20% to 258 in a day He said the message was sent to 600 suppliers. GM, according to a spokesman, will provided suppliers detailed specs on materials, equipment, and processes – essentially, what suppliers would need to know to ramp up their own production lines. ![]() ![]() By making available GM's production processes to our global supply base, we hope to facilitate other companies' efforts to bring more materials, more equipment and ultimately more facemasks to the community." "We also recognized it would be counterproductive if GM – or any other manufacturer – competed for supplies with existing medical-mask companies. "Our ultimate goal is to get more masks to the people who desperately need them," he said in part of the message obtained by CNBC. In a note to the suppliers on Saturday, Shilpan Amin, GM's vice president of global purchasing and supply chain, said it is making the automaker's step-by-step manufacturing plans for the personal protective equipment available to any company willing to join in the cause. General Motors is encouraging and empowering its suppliers to assist in production of medical face masks for frontline workers amid the coronavirus pandemic. Lauren Hirsch, Leslie Josephs 3:50 pm: France's death toll slows but coronavirus still hits hard "We are concerned the Treasury Department's recent guidance on the 'Airline Industry Payroll Support' Program does not fully reflect the intent of Congress," they wrote. ![]() "The intent of this program was very clear: keep America's hardworking aviation professionals in their jobs through direct payroll payments from the Treasury Department," wrote House Speaker Nancy Pelosi, Senate Minority Leader Charles Schumer and other top Democrats. In addition to payroll grants, Congress also approved $29 billion in loans to passenger and cargo airlines as part of the historic $2 trillion coronavirus aid package last month. But industry members, unions and others have argued that if the Treasury Department is too aggressive in its demands, such as by insisting on large equity stakes, it could deter airlines from taking the grants altogether. Treasury guidelines state the department said it may demand warrants, options, preferred stock or other securities in exchange for the grants. Mnuchin last month said taxpayers must be " compensated" for aid given to airlines. Leading congressional Democrats on Sunday urged Treasury Secretary Steven Mnuchin to quickly reach agreements and not place onerous conditions on $25 billion in payroll grants for airlines reeling from the coronavirus pandemic. ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit ![]()
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