Ready Capital Corporation Reaches $2 Billion In SBA Loan Approvals Through The Paycheck Protection Program
Ready Capital Corproation (RC)
Last ready capital corproation earnings: 3/11 04:39 pm
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Source: PR Newswire
NEW YORK, April 15, 2020 /PRNewswire/ -- Ready Capital Corporation (NYSE: RC) announced today that the Company's national Small Business Administration (SBA) lender, ReadyCap Lending, LLC, has obtained SBA approvals to fund in excess of $2 billion loans through the U.S. Small Business Administration's Paycheck Protection Program ("PPP Program"). Through the Coronavirus Aid, Relief and Economic Security Act ("CARES Act"), the initiative calls for existing SBA lenders to extend loans to small business to cover payroll, occupancy and operating expenses through the PPP Program. Furthermore, the PPP Program includes a 100% guarantee from the federal government for loans up to $10 million and principal forgiveness for borrowers if the funds are used primarily for retaining employees. Ready Capital, through its front-end technology embedded in its iBusiness Funding platform, helps small businesses by lending, not only to its existing clients, but also new applicants. Ready Capital started
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Earnings
- 11/6/25 - Miss
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Sec Filings
- 11/10/25 - Form SCHEDULE
- 11/7/25 - Form 10-Q
- 11/6/25 - Form 8-K
- RC's page on the SEC website