Just days after the $2 trillion CARES Act created a $349 billion small business loan product and before lenders start accepting applications this week, details of the Paycheck Protection Program the law created have come into focus.
Gov. Ned Lamont has issued a new executive order solving a problem that could have plagued homebuyers and sellers trying to get transaction documents notarized.
Banking and lending will feel impacts from the $2 trillion federal Coronavirus Aid, Relief and Economic Security (CARES) Act passed last week, most notably the new loan U.S. Small Business Administration loan program.
Live-streamed house tours. Three hundred and sixty-degree photos of rooms. Video chats with clients. Welcome to the world of buying and selling real estate in Connecticut put under quasi-quarantine to fight the coronavirus.
More than 50 credit unions and banks in Connecticut have agreed to offer mortgage relief to the state’s residents and businesses experiencing hardships due to the coronavirus pandemic.
In another indication the coronavirus is softening the housing market, applications for purchase mortgages fell by 11 percent nationwide last week, according to the Mortgage Bankers Association.
Economic disruption associated with the COVID-19 pandemic will hit the hotel sector hardest of any commercial real estate sector with nearly 35 percent of mortgages likely to default by 2024, according to an analysis released this week.
The Connecticut Department of Revenue Services is moving to put more cash in businesses’ pockets as their sales dry up due to the coronavirus pandemic.
Millions of owners face April 1 due dates for rent, mortgage, credit card and other payments. Some have been granted leniency from landlords and lenders. But even then, there are other business and personal bills that are owed.