U.S. banks set aside billions for potential loan losses
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The pandemic slammed results released Tuesday by three big U.S. banks. JPMorgan Chase and Wells Fargo are each setting aside roughly $10 billion in reserves and Citigroup nearly $6 billion to cover potential loan losses due to the coronavirus crisis.
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Us Bank Business Loans, U.S. banks set aside billions for potential loan losses.
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Eliminating SBA assurance charges. When you get an SBA loan you have to pay a charge at closing which goes to Washington and assists settle losses from the banks. It can be expensive, specifically for bigger loans. TRANSLATION: Aren’t we all tired of paying excessive closing costs and fees?
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