Commercial lending

In merging with First Midwest Bancorp, the Indiana company would finally gain a presence in the Midwest’s largest city.

On Mar. 31, 2021. Dollars in thousands.

The U.S. unit of Toronto-Dominion Bank plans to invest in CDFIs and specialized funds that serve Black, Hispanic and other diverse business owners in its East Coast territory.

Nearly a quarter of Black business owners seeking Paycheck Protection Program loans last year applied to fintechs — not far behind the percentage that turned to community banks, according to a New York Fed study. Deepening those new relationships could be a major source of growth for online lenders.

Huntingdon Valley Bank in Pennsylvania and First Savings Bank in Indiana are among the banks extending their relationships with software providers to make small-business lending more efficient after the Paycheck Protection Program is phased out.

Under a plan signed into law in March, the agency will first target direct loans that it has made to socially disadvantaged farmers. Guidance that will affect small banks that have made government-backed agricultural loans is due in 120 days.

The Small Business Administration’s sluggish pace in forgiving the biggest Paycheck Protection Program loans is straining relations between banks and some borrowers.

The maker of software that helps banks offer "buy now, pay later" loans at the point of sale says its latest funding round has pushed it into unicorn status.

The Amsterdam bank offers to directly credit a small business's invoices early after a vetting process — but before the invoice is paid.

On Dec. 31, 2020. Dollars in thousands.