The Tiny Bank That Got Pandemic Aid to 100,000 Small Businesses

The average loan through the paycheck program is about $111,000, but Cross River’s are much smaller: $44,062 on average, by far the lowest of the program’s 15 largest lenders, according to data from the Small Business Administration, which oversees the program. Those tiny loans add up. Cross River has lent a total of $4.7 billion […]

Small US companies squeezed hardest by Covid-19 effects

The number of small US companies failing to turn a profit has jumped to levels last seen after the financial crisis a decade ago, as the downturn caused by the pandemic hits local businesses across the nation.The proportion of companies in the Russell 2000 index of...

What It Takes to Reopen a Small Business Right Now

Tiffany Turner had dinner recently in a restaurant — the first time in nearly three months. She was greeted by employees in cotton face masks and seated at a table that was a socially distanced six feet from any other. Her return-to-society meal? Caesar salad, mussels...