Microbusinesses are uniquely vulnerable to the pandemic’s negative financial impacts. Seventy-five percent of SMBs — including microbusinesses — in one recent survey reported that their revenues are down. The crisis has led many SMBs to turn to PPP loans or other government-supported funds to help...
Surviving the pandemic’s economic uncertainties means paying vendors on time without fail. In the latest Disbursements Tracker, Caleb Benoit, founder of coffee wholesale and retail company Connect Roasters, explains how offering instant disbursements to its suppliers has become critical to keeping those microbusinesses’ cash flows...
The pandemic has shaken many consumers’, banks’ and merchants’ financial foundations, but microbusinesses have been hit especially hard. These companies, which can be run by solo entrepreneurs or teams of up to 10 employees, make up 89 percent of all small-to medium-sized businesses (SMBs) in...
Ever see a movie where someone executes a series of complicated, risky moves to enter someplace, only to find that the front door was unlocked and they could’ve easily walked in? It’s a little like that in disbursements right now. The “door” in this case...
Disbursements have become part of consumers’ lives like never before in the United States. Millions of consumers and small businesses have received government stimulus and small business assistance payments in response to the economic downturn caused by the coronavirus pandemic, while others are getting paid...
Federal and state agencies were reminded this spring of just how outdated and outmoded their disbursement systems have become. The fiasco around distributing individual stimulus payments and Paycheck Protection Program (PPP) loans made it glaringly obvious that despite advances like instant P2P transfers in the...
Some Americans who got smaller stimulus payments than they expected or even none at all in the spring should receive funds soon, CNBC reported Thursday (Aug. 27). The IRS said in a press release that these “catch-up payments” will be made to about 50,000 who...
Money is getting faster, because it must. Many millions are sweating out the COVID-19 summer jobless and facing uncertainties about maintaining their way of life much longer. Instant payments are one solution that financial institutions (FIs) must offer customers to counter this, but “instant” doesn’t...
The investment industry managed to weather the beginning of the COVID-19 pandemic with few major issues, even as initial stock market declines led to dips in existing portfolios. Interest in financial investments is experiencing a resurgence, too, with one recent study showing that 61 percent of...
