A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses.

The head of the Federal Reserve Bank of Boston said the central bank had acquired stakes in 32 business loans as of Monday, four times the amount from two weeks earlier.

Theorem is marketing its first-ever securitization of unsecured loans. It uses machine-learning technology to gauge the risk of default, a growing concern during the pandemic recession.

The coronavirus pandemic has created major credit issues at the Boston bank and stymied efforts to improve profits, fueling speculation that the onetime serial acquirer could be a takeover target.

Richard Marotta left the Boston company less than two weeks after a goodwill impairment charge contributed to a large quarterly loss.

MatlinPatterson, which once owned more than 60% of the Michigan company, has been paring back its stake in recent years.

The Small Business Administration began accepting applications Monday, but lenders such as JPMorgan Chase are holding off in hopes that Congress will grant blanket forgiveness for smaller Paycheck Protection Program loans.

Somerset Trust in rural Pennsylvania has partnered with RoamHR, a financial platform that assists the self-employed, to add tax-withholding help for contract and temporary workers to the bank's services.

The company said it has concerns about a large amount of accounts receivable it bought in July.

Year to date through Mar. 31, 2020. Dollars in thousands.