Small business lending

Facebook's cryptocurrency backers; Amazon looks to boost lending

06/14/19

Visa, Mastercard and PayPal are each putting up $10 million to back the cryptocurrency; company “gearing up” to reboot its flagging small business lending unit.

[more]

What Biz2Credit plans to do with $52 million

06/04/19

The online lending marketplace will use the equity financing from WestBridge Capital to diversify the digital products its offers banks trying to compete for small-business borrowers, its CEO says.

[more]

Pennsylvania bank works to stem damage from CEO’s fraud arrest

05/31/19

While Noah Bank’s CEO has been accused of self-dealing in connection with SBA loans, its chairman says the directors had a succession plan ready to go and are rallying to rescue the bank’s reputation.

[more]

Reading between the lines of CFPB’s regulatory to-do list

05/28/19

The agency's spring rulemaking agenda includes the process for collecting small-business data as well as underwriting rules for GSE-backed loans. But what's missing from the list may be just as important.

[more]

Taxi loan abuses part of a broader pattern in New York

05/24/19

In a state where laws are unusually favorable to high-cost business lenders, taxi drivers are not the only small-business people getting trapped in loans they can't afford to pay back. The question is, what are policymakers going to do about it?

[more]

Small-business fintech launches lending platform for banks

05/21/19

Biz2Credit is offering its Biz2X platform to all banks after gaining HSBC and Popular Bank as clients.

[more]

First Internet to buy SBA platform from Colorado bank

05/21/19

First Internet will gain lenders and servicing staff, along with offices in Chicago and Indianapolis, from the deal.

[more]

U.S.-China trade war heightens fears of farm credit crunch

05/16/19

Farmers were already taking on more debt to cover losses from falling crop prices. New tariffs and other retaliatory moves could hurt ag borrowers further and lead to loan losses and tighter underwriting.

[more]

Kabbage inks deal with online banking platform Azlo

05/16/19

Azlo will offer customers the ability to apply for a Kabbage loan through a new program called Mission Street Capital.

[more]

Data privacy, AI, regulation: Small-business lending is changing fast

05/14/19

The forces reshaping small-business lending are also leading to “a moment of reckoning” for small banks, says former SBA head Karen Mills.

[more]