Square Capital and other online lenders joined the Paycheck Protection Program just before it ran out of money. Now they’re ready and waiting for Congress to reload funds that could be better aimed at the smallest companies.
PayPal, Intuit QuickBooks Capital and Square Capital have been named direct lenders in the Paycheck Protection Program, and more await the OK. They could be crucial to reaching the smallest firms trying to survive the economic toll of the coronavirus pandemic.
The online lender, which is looking to become a direct lender in the Paycheck Protection Program, has accepted 37,000 applications while working with an unnamed bank to fund businesses harmed by the coronavirus pandemic.
While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.
The online lender's latest product shows business owners their cash flow over the past 90 days and how it is likely to change. The idea is to help borrowers save time.
Tech firm accuses PNC of stealing trade secrets; online lender LendingClub agrees to acquire Radius Bank; questions arise whether regulators are turning more partisan; and more from this week's most-read stories.
The startup spawned in Eastern Bank's innovation lab says its bank customers asked for client-friendly software for account opening, credit cards and more types of commercial lending.
Kaustav Das was part of Kabbage’s effort to transform small-business lending by using new data analytics, and the CEO of Petal wants him to help it do the same in consumer credit cards.
