Small business lending

How banks use tech to monitor health of small-business clients

12/03/20

Webster Bank and Customers Bank are among the lenders that have turned to alternative data sources and automated loan reviews to assess business customers' ability to weather the coronavirus pandemic.

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Small businesses poised to hunker down in 2021: Bank of America survey

12/02/20

Though there is some optimism about an economic recovery, two-thirds of respondents said they expect revenue to be flat of down next year and just 13% plan to be in hiring mode.

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Lend to those with low credit scores to lift downtrodden neighborhoods

12/02/20

People with scores below 500 are often in communities that suffer the most from economic hardship and violence. Banks and regulators can do more to qualify them for financing, ultimately creating healthier local economies.

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Banks, borrowers bristle at SBA questionnaire on large PPP loans

11/30/20

Lenders are worried that the Small Business Administration could use borrower responses to deny forgiveness for many Paycheck Protection Program loans that exceed $2 million.

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What will it take to boost SBA lending?

11/20/20

Lenders want Congress to bring back incentives used during the last recession, such as bigger subsidies and reduced fees, to jump-start participation in the Small Business Administration's flagship 7(a) program.

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CDFIs plug tech holes to close wealth gaps

11/19/20

Community development financial institutions, which tend to be less digitally savvy than traditional banks and credit unions, are developing online-lending platforms and automating backroom processes with investments and technical assistance from big banks, high-tech firms and other sources.

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CDFIs have untapped potential as game changers for minority-owned businesses

11/18/20

More lenders and governments should partner with community development financial institutions to ensure aid reaches minority-owned businesses that are the backbone of many neighborhoods slammed by the coronavirus.

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'We will continue to do our jobs,' Fed's Powell vows as election drags on

11/05/20

Asked about the political uncertainty surrounding the undecided presidential race, Federal Reserve Chair Jerome Powell said the central bank isn’t wavering from its duty “to support the economy during this difficult time.”

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In year of PPP, big banks tap brakes on SBA lending

11/03/20

Wells Fargo, JPMorgan Chase and others cut back on 7(a) lending to focus on originating Paycheck Protection Program loans. Smaller banks such as Live Oak and Byline gained market share by targeting niche industries and originating bigger loans.

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Now is not the time to freeze small-business lending

11/02/20

Credit is tightening to 2008 levels at a time when small businesses need help the most, former SBA chief Karen Gordon Mills says.

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