How to stop the business loan program from benefiting the rich [MSNBC.com]
Stifel Financial Corporation (SF)
Last stifel financial corporation earnings: 7/30 06:00 am
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Source: MSNBC.com
When the Small Administration’s $350 billion loan programran out of moneyWith hundreds of thousands of businesses in distress, the demand for the forgivable loans was overwhelming. Employers who kept their full staff on the payroll for eight weeks didn’t have to pay the money back. As Dallas Mavericks owner Marc Cuban said, “it’s free money!”The rules for qualifying for the loans, though, were so loose that the program was opened up to many businesses and people who were not the intended recipients, which is one of the reasons the program hit its ceiling so fast. It has become a huge benefit for private clubs, law firms, investment managers, and accounting firms that have the resources to complete their applications quickly. Some wealthy individuals have set up LLCs (limited liability companies), which technically qualify for the loans, and put their yachts and planes and personal staffs in the companies in order to qualify.But it’s been much more difficult for small and struggling s
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- Stifel Financial Corp. (NYSE: SF) had its price target raised by analysts at Wells Fargo & Company from $113.00 to $130.00. They now have an "overweight" rating on the stock.MarketBeat
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SF
Earnings
- 10/23/24 - Miss
SF
Sec Filings
- 11/14/24 - Form 4
- 11/14/24 - Form 13F-HR
- 11/12/24 - Form 144
- SF's page on the SEC website