Tagged: small businesses

April 17, 2020 @ 10:37 am By Samantha Hurst  |  

Online lending platform Lendio announced on Friday it facilitated more than 50,000 small businesses across the U.S. through the Paycheck Protection Program (PPP). Lendio reported that PPP applications approved through its online marketplace and bank partnerships total more than $5.5 billion. As previously reported, the… Read More

April 16, 2020 @ 10:03 am By Samantha Hurst  |  

Russian banking group Sberbank announced earlier this week it is launching an anti-crisis support platform, SberUnity, that is specifically for SMEs. According to Sberbank, SberUnity was created to help businesses find new solutions and transform their companies from offline to online ones. Sberbank also claims… Read More

April 15, 2020 @ 12:42 pm By Samantha Hurst  |  

Funding Circle (LSE: FCH), an SME lender that facilitates loans in both the US and parts of Europe, announced on Wednesday it has received approval to issue Paycheck Protection Program (PPP) loans through its online lending platform. As previously reported, the PPP is part of… Read More

April 7, 2020 @ 11:31 am By Samantha Hurst  |  

Biz2Credit announced on Tuesday the release of its latest Business Lending Index revealed that small business approval rate plummeted in March 2020. According to the Index, The approval percentage for small business loan applications at big banks ($10 billion+ in assets) plummeted to just 15.4%… Read More

April 6, 2020 @ 11:31 am By Samantha Hurst  |  

Marketplace lending company Funding Circle (LSE: FCH) announced on Friday it launched a pre-application system for small business owners interested in funds from the Paycheck Protection Program, which is offered by the U.S. Department of Treasury and Small Business Administration (SBA). Paycheck Protection Program (PPP)… Read More

April 6, 2020 @ 9:25 am By Samantha Hurst  |  

Online lending platform Lendio recently announced it has launched an application for small businesses to access the $349 billion in government funds set aside for the Paycheck Protection Program (PPP). Lendio reported that the Paycheck Protection Program is part of the $2 trillion CARES Act… Read More

April 3, 2020 @ 9:15 am By Samantha Hurst  |  

UK banking group NatWest announced on Friday it is continuing to offer support SME customers by waiving monthly hire fees for Point-of-Sale terminals from its payments product Tyl until the end of 2020 in response to the COVID-19 pandemic. NatWest also revealed that is providing… Read More

April 2, 2020 @ 2:21 pm By Samantha Hurst  |  

SMBX, a marketplace for buying and selling small-business bonds, announced on Thursday the first two issuers for its small business rebuild bond program, which is running in tandem with the company’s regular Small Business Bond Program. SMBX reported that through the program offers small business… Read More

April 1, 2020 @ 2:40 pm By Samantha Hurst  |  

Online lending platform Lendio announced on Tuesday it is planning to hire up to 200 full-time small business loan agents to help meet the demand for emergency capital during the COVID-19. Lendio reported that with the recent passing of the CARES Act and the inclusions… Read More

April 1, 2020 @ 2:18 pm By Samantha Hurst  |  

Just a few weeks after launching its business accounts, UK challenger bank Monzo announced the launch of “Monzo Business” for web, which gives users the option to manage their business account on their computer or laptop. As previously reported, Monzo stated it spent the past… Read More

March 31, 2020 @ 10:23 pm By Omar Faridi  |  

NYMBUS is planning to help US-based financial institutions with effectively responding to the economic instability resulting from the Coronavirus (COVID-19) outbreak. NYMBUS is a core banking modernization firm. It helps financial service providers with their digital transformation strategies. The company is offering a new program… Read More

March 31, 2020 @ 12:49 pm By Samantha Hurst  |  

FundedByMe, a multi-national investment crowdfunding platform, recently announced it is re-launching its donation-based crowdfunding services in order to help small businesses during the coronavirus (COVID-19) pandemic. The platform reported that in the suites of the financial crisis following the Coronavirus, many people, as well as… Read More

March 30, 2020 @ 10:38 pm By Omar Faridi  |  

Fintech credit provider 4G Capital, a firm that supports individuals and companies across Africa, has introduced operational and services updates for its business operations across Kenya and Uganda. The company has also shared how it is dealing with the deadly coronavirus (COVID-19) outbreak. FSD (Financial… Read More

March 25, 2020 @ 8:45 pm By Omar Faridi  |  

SOLV, an online marketplace that matches lenders and micro-, small and medium-sized MSME borrowers, has expressed concerns regarding the coronavirus (COVID-19) outbreak, which has resulted in economic uncertainty and instability. SOLV, which is a B2B platform backed by the Standard Chartered Bank, expects SMEs to… Read More

March 24, 2020 @ 5:47 pm By Samantha Hurst  |  

Online lending platform Lendio announced on Tuesday it has joined companies through the U.S., including Biz2Credit, Credibly, Fundbox, Homebase, Kabbage, Funding Circle, Plaid, LendingTree, and Wisely, to send a letter to the U.S. Senate and House of Representative leaders to approve $500 billion in discretionary… Read More

March 18, 2020 @ 1:13 pm By Samantha Hurst  |  

Bank replacement platform Honeycomb Credit announced on Wednesday it is now offering loans to small businesses that are in need of working capital during the coronavirus pandemic. As of March 18th, there are 7,038 cases of the virus with 97 total deaths. According to Honeycomb… Read More

March 18, 2020 @ 9:08 am By Samantha Hurst  |  

iwoca, an online lender serving SMEs, announced on Wednesday the launch of a new platform, OpenLending, which may unify fintechs and banks to extend iwoca’s lending capabilities to over two million UK businesses. iwoca reported that the launch of OpenLending forms part of its £10… Read More

March 17, 2020 @ 10:31 pm By Samantha Hurst  |  

U.S.-based online lending platform Lendio announced on Tuesday it has facilitated over $2 billion in loans to small businesses across the U.S. The online lender also reported that it has originated more than 100,000 loans as well. Founded in 2011, Lendio claims to be a… Read More

March 17, 2020 @ 2:44 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Tuesday the launch of its new business banking accounts. The banking group reported that it has spent the past twelve months building the account to make banking “effortless” for small businesses.  Monzo’s team explained: “We want our business accounts… Read More

February 18, 2020 @ 10:25 pm By Samantha Hurst  |  

Global financial service platform Kabbage announced on Tuesday its latest data, which polled more than 600 U.S. small business owners, revealed the majority of small businesses believe their revenue growth underperforms their peers. Specifically, 60% of respondents ranked their revenue growth below the 50th percentile… Read More