Tagged: paycheck protection program

SBA Approved Non-Bank Lender ACAP Signs Deal With Biz2Credit For License PPP Forgiveness Platform

ACAP, an SBA-approved non-bank lender and national loan aggregator of Paycheck Protection Program (PPP) loans, announced on Wednesday it has signed a new deal with Biz2Credit to utilize the Biz2X PPP Forgiveness Platform. ACAP reputed that it and its servicing team The Loan Source will… Read More

Lendio’s New Report Reveals How Network of Lenders Converged to Secure $8 Billion in PPP Loan Approvals (Infographic)

Online lending platform Lendio announced on Wednesday its latest report reveals how its network of lenders converged to help secure $8 billion in Paycheck Protection Program (PPP) approvals. The lender reported that more than 100,000 small business owners utilized its online application to access the… Read More

Kabbage to Stop Accepting New Applications for Paycheck Protection Program Before August 8th Deadline

Global financial service platform Kabbage announced it will not be accepting new applications for the Paycheck Protection Program after August 6th (today). The online lender decided to close the application process for new applicants before the August 8th deadline in order to finalize existing applications…. Read More

More than Half of Paycheck Protection Program Recipients are Focused on Financial Services, but Some Crypto Projects like Zcoin are Self-Funded

Over half or 50% of companies that applied for, and received funding via the US government’s Paycheck Protection Program were financial services providers or companies focused on related technology developments. As reported recently, Fintech firms managed to acquire significant amounts of funding from the PPP… Read More

Fintech Insider Says Online Lenders are Struggling Due to US Government Programs Supporting Businesses During COVID-19

Yesterday, Crowdfund Insider reported on layoffs at OnDeck (NYSE:ONDK) – an SME focused online lender. Like many online lenders, COVID-19 has hit this sector of Fintech hard. Looking for additional insight into the challenges the industry CI reached out to an industry insider for their perspective… Read More

Fintech Solutions Could Help SMBs Improve how they Submit Loan Applications for the Paycheck Protection Program, US Industry Professionals Explain

There were many borrowers in the US that signed up for Paycheck Protection Program (PPP) loans because they wanted to be able to make payroll, David O’Connell, a senior analyst focused on wholesale banking at Aite Group, confirmed. O’Connell claims that these businesses were thinking… Read More

Bitcoin Magazine, Bittrex, bitFlyer, CipherTrace, Circle, ConsenSys, LedgerX, Messari, Among Many Other Blockchain Firms have Received Funding via COVID-19 Linked PPP Scheme

The Trump Administration has released additional information regarding the recipients of the COVID-19 linked Payroll Protection Program (PPP). Brooklyn, New York-based ConsenSys, a leading Ethereum (ETH) development studio, and several digital asset exchanges were listed as beneficiaries of the recent PPP Coronavirus financial relief scheme…. Read More

Kabbage Approves More Than 209,000 Paycheck Protection Program Applications For $5.8 Billion

Global financial service platform Kabbage announced on Wednesday it has approved more than 209,000 Paycheck Protection Program (PPP) applications for $5.8 billion. Kabbage claimed it is the third-largest PPP lender in the country by application volume.  As previously reported, the PPP is part of the… Read More

Lendio Facilitates $8 Billion in Paycheck Protection Program Loans to 100,000 Small Businesses (Infographic)

Online lending platform Lendio announced on Wednesday it has facilitated $8 billion in Paycheck Protection Program (PPP) loans for 100,000 small businesses to date. The lender reported that it has supported 300 SBA-approved financial institutions and fintech lenders across the country, as well as helped… Read More

Biz2Credit Set to Host Forum With Susan Collins to Discuss Paycheck Protection Program Success & Lessons

Small business funding platform Biz2Credit announced on Tuesday it will be hosting a forum with Maine senator, Susan Collins, to discuss the Paycheck Protection Program (PPP), which includes the program’s successes and the lessons learned from the program.  The PPP was created through the Keeping… Read More

George Whitridge from ARK Invest Discusses Key Fintech Developments in Real Estate, Mobile Payments, and ETFs

George Whitridge, an analyst at ARK Invest, said during a recently held webcast, called The Future of Finance: How Fintech Could Disrupt Everything, that the future of finance will increasingly involve digital transactions and lending. He noted that back in 2005, there were around 7… Read More

Kabbage Launches PPP Application for Drivers & Delivery People Using Uber

  Global financial service platform Kabbage announced on Tuesday it has expanded its Paycheck Protection Program (PPP) with a customized application for drivers and delivery people who use Uber in the U.S. The Paycheck Protection Program is part of the $2 trillion Coronavirus Aid, Relief,… Read More

Lendio to Partner With Financial Institutions to Power Paycheck Protection Program Loan Forgiveness Application Process

Online lending platform Lendio announced on Friday it will partner with financial institutions across the U.S. to power the forgiveness application process for Paycheck Protection Program (PPP) loans.  As previously reported, the PPP is part of the $2 trillion CARES Act signed on March 27,… Read More

Cross River Approves More Than $4.7 Billion in Loans to Small Businesses Across the U.S. Through Both Rounds of the Paycheck Protection Program

Cross River, a bank that delivers advanced financial and compliance products/services to the fintech industry, announced on Tuesday it has approved more than $4.7 billion in loans to small businesses across the U.S. through both rounds of the Small Business Administration’s (SBA) Paycheck Protection Program… Read More

Wallis Bank Provided $347.5 Million in PPP Loans to More Than 3,500 Small Businesses

U.S. banking group Wallis Bank recently announced it has provided $347.5 million in Paycheck Protection Program (PPP) loans to more than 3,500 small businesses throughout the country that have been impacted by the COVID-19 pandemic. As previously reported, The PPP was established by Congress under… Read More

Kabbage: More Than 110,000 Small Businesses Approved to Receive Over $3.5 Billion in PPP Funding Through Online Lending Platform

Global financial service platform Kabbage announced on Monday that more than 110,000 U.S. small businesses have been approved to receive over $3.5 billion in Paycheck Protection Program (PPP) funding through its online lending platform.  As previously reported, the Paycheck Protection Program is part of the… Read More

Second Round of Paycheck Protection Program Registers $185 Billion in Approvals, Average Loan Size of $74,304

The Small Business Administration (SBA) has provided some interesting data regarding the Paycheck Protection Program (PPP), part of the CARES Act; the COVID-19 bailout legislation. While the first round of PPP saw the funding quickly run out, the second tranche is ongoing. There has been… Read More

SoFi Teams Up With SpotOn to Connect Small Businesses with Federal Stimulus Loan Programs

SpotOn Transact, Inc (SpotOn), a software and payments company, announced on Tuesday it has formed a new partnership with fintech unicorn SoFi to provide financial products to small businesses during the COVID-19 pandemic. According to SpotOn, the collaboration will help small businesses by bypassing the… Read More

Biz2Credit’s Funding Affiliate Approved by SBA for Paycheck Protection Program Loans

Small business funding platform Biz2Credit announced on Monday its funding affiliate was approved as a lender for the SBA Paycheck Protection Program (PPP) established under the recently-enacted CARES Act. Biz2Credit reported that this makes it one of the few fintechs that has been approved by… Read More

More Fintech Please: Lendio CEO Brock Blake Comments on Paycheck Protection Program Process

  The Paycheck Protection Program (PPP), part of the CARES Act, has emerged as an exceptionally popular policy program by the US government in its efforts to support a faltering economy. In brief, the PPP provides a loan for 2.5X times monthly payroll for struggling… Read More

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