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Some of Canada’s smallest companies do not qualify for the country’s PPP equivalent pandemic support
Banks will need to process approximately 50 times their normal annual volume in the next 30-60 days under the Paycheck Protection Program
Bank granted ‘temporary and narrow’ relief from 2018 balance sheet restrictions to aid small business loan program
Rapid growth is being accelerated by measures put in place to combat the spread of COVID-19
Complex regulations and required manpower are pushing costs higher, but fraud attempts are rising
The government’s $349 billion small business support package is facing issues already, according to reports
Fraudsters are posing as health officials or charity workers in order to cheat people into handing over money
Banks are continuing to explore ways of supporting local communities, customers, and medical staff during the pandemic
The bank is targeting $10 billion in PPP loans but is restricted by measures put in place following the fake accounts scandal
Providers of online services are rolling new or enhanced support for banks providing loans under the PPP
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