Square Capital and other online lenders joined the Paycheck Protection Program just before it ran out of money. Now they’re ready and waiting for Congress to reload funds that could be better aimed at the smallest companies.

Banco Santander has launched a new standalone international money transfer service called PagoFX in the U.K. to compete with fintechs.

Airwallex has raised $160 million in a Series D fundraising round to expand global payment offerings for small businesses and enterprises.

IT projects are under scrutiny due to the coronavirus, not only in terms of budgets but also how fast firms can deploy automation for tasks such as business payments for companies that have turned to remote work.

The SBA’s Paycheck Protection Program is nearly depleted, but there are ways small banks and fintechs, with help from Congress, can remedy the situation.

Online lenders, core providers and software companies have created digital platforms that speed up and simplify Paycheck Protection Program loans for businesses reeling from the coronavirus pandemic.

Unlike in 2008, banks have become a steady force during the coronavirus pandemic.

PayPal, Intuit QuickBooks Capital and Square Capital have been named direct lenders in the Paycheck Protection Program, and more await the go-ahead. They could be crucial to reaching the smallest firms trying to survive the economic toll of the coronavirus pandemic.

A combination of digital and cloud capabilities, data gathering and regulatory experience should give smaller banks an edge over nonbanks.

The $2 trillion coronavirus rescue package and other government moves are designed to provide a lifeline for small businesses, but they also create complications as businesses must quickly accumulate payment records and other information to apply for the loans.