Throughout their history, mid-sized banks have served as a lifeline for local businesses across America. These financial institutions (FIs) — including community banks, regional banks, digital-only banks and credit unions — foster deep customer-banker relationships with the small- to medium-sized businesses (SMBs) they know best,...
In small business lending — regardless of the size of the bank doing the lending itself — a high-touch approach and in-person visits to the branches are “key conduits” for extending credit, the Federal Deposit Insurance Corporation (FDIC) has found. In its 2024 Small-Business Lending...
The White House says it has made it easier for small businesses to refinance debt. The Small Business Administration (SBA) announced a rule change Tuesday (Oct. 1) to its 504 Loan Program, which offers long-term, fixed rate financing for real estate and equipment with SBA-backed capital. “Coupled with...
The Consumer Financial Protection Bureau (CFPB) has extended the compliance dates for its small business lending rule pursuant to court orders. A federal court in Texas stayed the rule last year, pending a Supreme Court decision that was handed down in May, and required the CFPB to...
November 14, 2024
Small and medium-sized businesses (SMBs) face challenges when securing credit, especially in an uncertain economy. Embedded lending, which integrates credit options directly into purchase platforms, offers a fast and convenient solution. But a key element of embedded lending is the need for SMBs to share their financial data in real time — something many businesses […]
March 21, 2024
Banks — the stalwarts of traditional lending — are finding new channels and conduits to getting capital to borrowers, across alternative channels, and with FinTech collaborations forged and expanded. Alternative...
October 05, 2023
David Feuer, chief product officer of Galileo Financial Technologies, told PYMNTS that the current financial services landscape is a challenging one for smaller firms — and especially so for the...
February 03, 2020
In the platform economy, scale matters. And in leveraging Amazon’s scale as a platform — with millions of small to medium-sized businesses (SMBs) and even micro-sized businesses hawking pretty much...
October 01, 2024
The White House says it has made it easier for small businesses to refinance debt. The Small Business Administration (SBA) announced a rule change Tuesday (Oct. 1) to its 504 Loan Program, which offers long-term, fixed rate financing for real estate and equipment with SBA-backed capital. “Coupled with the recent Federal Reserve interest rate cut, SBA’s new rule will […]
June 25, 2024
The Consumer Financial Protection Bureau (CFPB) has extended the compliance dates for its small business lending rule pursuant to court orders. A federal court in Texas stayed the rule last year, pending...
June 04, 2024
Small business banking platform Rapid Finance has introduced updates to its fraud detection platform Lynx. The platform now has a cloud-based rules engine that lets the company’s enterprise customers create...
March 28, 2024
Intuit QuickBooks has added a line of credit offering to the small business lending options available through its platform. The new QuickBooks Line of Credit enables small businesses to access...
