Banking & Financial Services
The Department of Health and Human Services has started distributing COVID-19-relief funds to hospitals, and a big chunk of that is going to be given to rural hospitals that could soon be hit hard by the pandemic. Those facilities, which…
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The U.S. Treasury will reportedly borrow $3 trillion this quarter, most of it related to COVID-19-relief stimulus programs, reportedly making the government's debt about $25 trillion. Next quarter, the department also plans to borrow "$677 billion in privately-held net marketable…
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Jackson County is getting $122.7 million of Missouri's $2.4 billion in federal CARES Act funding, the second-highest amount of any county in the state. “COVID-19 has had an overwhelming impact on our economy, and many local governments, health care providers,…
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The Paycheck Protection Program is working, said Small Business Administration Administrator Jovita Carranza and U.S. Secretary of the Treasury Steven Mnuchin. Their joint statement reads: “The Paycheck Protection Program is providing critical support to millions of small businesses and tens…
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Kansas and Missouri hospitals are reportedly receiving about more than $800 million in combined funding from the federal government to help combat economic financial hardships due to the COVID-19 pandemic. On the Missouri side, hospitals will be receiving $412.5 million,…
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A third round of Paycheck Protection Program funding might from the Small Business Administration might be needed soon, according to the head of the National Economic Council. “We waited a little bit too long, I thought, when the last tranche…
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About 10.3 percent of Kansas small businesses have received loans from the Paycheck Protection Plan, which might seem like a small number, but it ranks the state in the top 10 percentile of states that have gotten funding. At 8.7…
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Kansas City-based law firm is seeing the highest rate of Chapter 11 bankruptcies in seven years, according to its Polsinelli-TrBK Distress Indices Report. “It’s actually quite common to not see an immediate increase in bankruptcies during an economic crisis. With…
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Week-over-week mortgage applications declined 3.3 percent week-over-week, according to the Mortgage Bankers Association. Meanwhile, refinancing declined seven percent from the prior week, according to the trade group. But despite that, purchases increased 12 percent from the prior week, MBA says.…
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The Federal Reserve Bank is keep interest rates between zero and one-quarter of percent as a result of negative economic impact caused by COVID-19. "The Committee expects to maintain this target range until it is confident that the economy has…
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