The social distancing and stay-at-home orders intended to reduce the spread of the COVID-19 outbreak have been devastating to small- to medium-sized businesses (SMBs), with tens of thousands expected to close by year’s end. The virus itself is not the only factor in play, however,...
Summer wanes, Labor Day is here, and — as prodded by the name of the holiday — thoughts turn to work. The latest round of employment data, released Friday (Sept. 4), shows that the United States added 1.4 million jobs in August, as estimated by the...
American Express is bringing out a new option pitched to small and medium-sized businesses (SMBs): the opportunity to Pay Over Time for holders of Green, Gold and Platinum Business Cards at the start of their November billing cycle. The move was aimed at helping its...
With small businesses across the country failing and government relief efforts stalling out, the private sector is stepping up to lend a hand. Capital One Business and GoFundMe are backing a new, $50 million effort to throw a lifeline to struggling small businesses called Small...
The pandemic has Main Street businesses turning to online marketplaces to boost sales. But for sellers dealing with cash-flow shortages, marketplace payout speeds aren't cutting it – and more than 60 percent of small sellers will switch marketplaces for real-time payout options. PYMNTS' new Marketplaces...
Legacy banks are famously risk-averse, and the pandemic hasn’t improved that. Tightening of the credit markets during lockdowns up to now has beset small and medium-sized businesses (SMBs) seeking capital from traditional sources that lost their appetite for risk. For thousands of SMBs, cash flow...
The first year of any business is a time full of surprises and making adaptations when conditions go from being theoretical to becoming concrete realities. But there are surprises, and then there’s a global pandemic that hits the reset button on consumer habits basically overnight....
To gauge the economic health and vitality of local economies, one need look no further than the financial stability of the small and medium-sized businesses that line the main streets and side streets of communities across the nation. A bustling Main Street signals a vibrant and...
J.P. Morgan Chase CEO Jamie Dimon estimated the federal Paycheck Protection Program (PPP) has saved as many as 35 million jobs by delivering the Small Business Administration‘s emergency forgivable loans to small- to medium-sized businesses (SMBs) impacted by the pandemic, according to NBC News. “I’m...
