The small- to medium-sized business (SMB) lending industry is used to adaptation, especially since the 2008 financial crisis, when legacy financial institutions (FIs) began pulling back and FinTechs and digital players stepped up in the space. The COVID-19 pandemic has rocked the industry, too, revitalizing...
Commercial payments technology firm WEX landed a $400 million investment this week, but when it comes to venture capital, investors set their sights on B2B eCommerce, small business funding, payroll and more. With a combined $43.3 million in VC funding for the sector, B2B FinTechs...
To encourage banks to loan as much as $140.18 billion to small businesses during COVID-19, the People’s Bank of China (PBOC) is to begin purchasing loans local lenders provided to small businesses. The central bank plans to use a special relending quota to purchase the...
To support small businesses that needed to change course because of the coronavirus, Vancity has rolled out its Unity Pivot Business Loan. Businesses changing direction to support the battle against the pandemic can tap into loans of up to $150,000, which will be interest free for...
May 29, 2019
Businesses of a certain size — and in industries as varied as construction and restaurants — know the pain of wondering if they will have enough capital to fund operations, inventory, expansion and other mission-critical business activities. They know the uncertainty of going to traditional financial institutions (FIs), even those rooted in their communities, that […]
March 28, 2019
FinTech Fundbox said on Thursday (March 28) that it is expanding its partnership with Synchrony, the consumer financial services company, to make B2B credit available to the latter’s merchant client...
February 18, 2019
Starting a business in the United States requires being courageous, someone who embraces the idea of success as a long shot. In fact, to be a successful entrepreneur, it is...
June 07, 2018
The landscape in SMB lending is almost totally unrecognizable from what it was even a short five years ago, BlueVine Founder and CEO, Eyal Lifshitz, told Karen Webster shortly after his...
April 17, 2020
To enhance the effectiveness of the Paycheck Protection Program (PPP) of the Small Business Administration (SBA), the Federal Reserve Board announced a rule change. The modification will temporarily change the rules of the Board so “certain bank directors and shareholders can apply for PPP loans for their small businesses” per a press release from The […]
April 07, 2020
President Donald Trump said he is working with congressional leaders to come up with another $250 billion in loan guarantees to help small- and medium-sized businesses get back on their...
February 27, 2020
Banking Circle is now licensed to do banking in Luxembourg after the Commission de Surveillance du Secteur Financier (CSSF) granted the license. The company has been making a name for itself in financial...
June 07, 2019
Europe’s Financial Stability Board (FSB) said on Friday (June 7) that higher bank capital requirements, which were put on the books during the financial crisis, will remain. Reuters, citing the...
