Commercial lending

Most loans to mortuaries are backed by the Small Business Administration, so they are capped at $5 million. The Delaware lender is teaming with an industry insurer to offer much larger loans to funeral home owners seeking to acquire rivals or refinance operations.

Alternative lenders should be held to the same standards as banks under the Community Reinvestment Act and other laws, M&T CEO René Jones argued in a letter to shareholders.

Bank of Nova Scotia and Bank of Montreal got an earnings boost with commercial clients ramping up their borrowing as economies emerged further from the pandemic.

On Dec. 31, 2021. Dollars in thousands.

After Russian President Vladimir Putin recognized two self-proclaimed separatist republics in eastern Ukraine, lenders such as SocGen, UniCredit and Raiffeisen look increasingly exposed to the knock-on effects of financial sanctions by Western governments.

Last year, just 30% of small-business owners received the total funding they were seeking, down from 51% just two years earlier, according to a new Federal Reserve survey. The findings suggest that two years into the pandemic, banks are having a difficult time assessing risk.

Almost 350,000 loans made to small businesses in 2020 during the COVID-19 pandemic haven’t been forgiven, according to a Bloomberg News analysis of Paycheck Protection Program data, and most of them are for less than $25,000. 

The agreement to acquire Vantage Financial in Minnesota comes less than a year after Peoples Bank purchased North Star Leasing in Vermont.

On Sep. 30, 2021. Dollars in thousands.

On Sep. 30, 2021. Dollars in thousands.

Banks and companies that use artificial intelligence to make loans agree with regulators that it should be tested for fairness. But they also say traditional loans could be just as biased.

DoorDash, the U.S.’s biggest meal-delivery service, is launching a financing arm to offer business loans to restaurants on its app.

The largest U.S. banks will be tested against a hypothetical massive surge in unemployment and a crash in commercial real estate in the Federal Reserve's annual stress tests, according to scenarios announced Thursday.

Banks that rank high on a Fintech Similarity Score made the most government-backed small-business loans outside their local area, a study found.

On Sep. 30, 2021. Dollars in thousands.

The world’s leading rater of green credentials is rewarding some of Wall Street’s biggest banks even though they continue to lend billions of dollars to fossil-fuel companies.

The Indiana bank announced a five-year, $8.3 billion agreement with the National Community Reinvestment Coalition in connection with its acquisition of First Midwest Bancorp. The Federal Reserve approved the purchase last month.

Underwriting has become more lenient amid increased competition for corporate borrowers, and as Paycheck Protection Program loans are disappearing from banks' balance sheets.

Blazing demand for leveraged loans is allowing companies to reduce borrowing costs by tinkering with a provision many viewed as key to weaning the industry off the London interbank offered rate.

Multifamily and specialty finance loans, which were highlights during the fourth quarter, should increase further in 2022, company executives said.