Ken Sweet, Author at Providence Business News

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THE COMMERCIAL REAL ESTATE market has been heavily impacted by the COVID-19 pandemic. / AP FILE PHOTO/MARK LENNIHAN

Virus pummels commercial real estate, could end long boom

Economic Activity 06/24/2020

NEW YORK (AP) – Americans are likely to see more “for rent” signs in the coming months as many businesses devastated by the coronavirus...

MAJOR BANKS in the U.S are preparing for a surge in loan defaults due to the COVID-19 pandemic. / AP FILE PHOTO/ STEVEN SENNE

Banks brace for big loan defaults by U.S., global customers

Coronavirus 04/15/2020

NEW YORK (AP) – The major banks in the United States are anticipating a flood of loan defaults as households and business customers take...

THOUSANDS OF U.S. small businesses are entering their second week of waiting for federal loans related to the COVID-19 pandemic. / AP FILE PHOTO/STEVEN SENNE

‘Absolute chaos’ as businesses try to tap into rescue funds

Coronavirus 04/13/2020

NEW YORK (AP) – Desperate small-business owners who hoped for a quick government lifeline to help them survive the coronavirus crisis are still without...

THE SBA's Paycheck Protection Program launched Friday, but some are having trouble gaining access to loans right away. Funds for the program are expected to be depleted quickly. Above, Jovita Carranza, administrator of the Small Business Administration. / AP FILE PHOTO/ALEX BRANDON

Small-biz rescue off to slow start in R.I., elsewhere; some banks...

Coronavirus 04/03/2020

NEW YORK (AP) – The federal government's relief program for small businesses is off to a slow start Friday, with only some businesses locally and...

BANK OF AMERICA earned $6.99 billion in the fourth quarter. / AP FILE PHOTO/STEVEN SENNE

Bank of America 4Q profits fall with lower interest rates

Economic Activity 01/15/2020

NEW YORK (AP) – Consumer banking giant Bank of America is saying its fourth-quarter profits fell 4% from a year ago, as the bank...

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