News Topic: Small business lending

A state-backed bank would not be financially feasible because capital requirements would be too high and it likely wouldn’t return profits to the state for at least 30 years, consultants concluded. ... Read full article

The branch closures will reduce overhead by an estimated $1.9 million a year. ... Read full article

On Sept. 30, 2018. Dollars in thousands, except for average loan amount. ... Read full article

The online lender will roll out the business early next year with a focus on loans of less than $100,000. ... Read full article

Live Oak Bancshares became an SBA juggernaut by making loans, selling them and making more. With economic conditions changing, it is retaining more credits. ... Read full article

Brad Sherman of California and Gregory Meeks of New York are worried the proposed accounting standard for recording loan losses will reduce access to credit for small businesses and low- and moderate-income communities. ... Read full article

Owners of firms that employ only themselves would prefer to use loans or lines of credit, but more often than not they resort to credit cards, according to a new Fed report. Is this a missed opportunity for banks? ... Read full article

CUNA Mutual, a service provider to credit unions, recently bought Mirador, which is heavily dependent on bank relationships. The challenge now is keeping those clients in the fold. ... Read full article

The legislation would ban legal clauses that force small-business borrowers to give up their right to court proceedings before obtaining a loan. ... Read full article

Attorney General Barbara Underwood’s office is looking into whether merchant cash-advance companies engaged in fraud or abused the state court system. ... Read full article

Faciam Holdings will pay nearly $68 million for Summit Bancshares. ... Read full article

Date, now a venture capitalist, worked with the lending software company's CEO, Dan O'Malley, at Capital One in the 2000s. ... Read full article

As the economy softens, traditional banks have an opportunity to win back market share from fintech competitors. ... Read full article

Lenders fear the agency's rule could make most poultry producers ineligible for 7(a) loans. ... Read full article

The lender is working with the fintech Biz2Credit to offer both secured and unsecured digital loans. ... Read full article

Entrepreneurship among veterans has been declining over the past 20 years, according to a report by the SBA and the New York Fed. ... Read full article

What the Democrats' House takeover means for banks; Synchrony has a lot to lose in fight with Walmart; should industry fear Waters-led banking panel?; and more from this week's most-read stories. ... Read full article

Readers sound off on the 2018 midterm election results, OCC's Otting defending his agency's right to charter fintechs, and predictions the plastic credit card is nearly dead. ... Read full article