The online lender is counting on other arrangements with banks — and perhaps even a bank charter of its own — to help recover from the loss of a key partnership.
As budget questions loom over the most popular Small Business Administration loans, lenders have embraced the previously overshadowed 504 program after a key policy tweak.
Jack Henry's acquisition of Geezeo and NCR's purchase of D3 Technology are fueling predictions that more small-business data firms will be takeover targets for legacy techs trying to court small bank and credit union customers.
Shares in the U.K.-based small-business lender fell 29% Tuesday after it sought to recalibrate expectations about its growth trajectory. So far, the company has pulled back lending more in the U.S. than in its other markets.
The Columbus, Ohio, bank has hired a former executive from Bank of America to run the new business, which will target physician, dentist and veterinary practices.
