The online lender, which is looking to become a direct lender in the Paycheck Protection Program, has accepted 37,000 applications while working with an unnamed bank to fund businesses harmed by the coronavirus pandemic.

The Small Business Administration’s loan processing platform went down Monday for as long as four hours, temporarily halting the ability of lenders to process loans for small business owners seeking relief from the impact of the coronavirus.

The government should encourage community lenders to offer six-month loan repayment forbearances to struggling businesses before it’s too late.

TrueAccord has expanded a platform, originally designed for banks, to assist borrowers hurt by the coronavirus pandemic.

The Cincinnati company will hire about 950 workers to meet heightened demand for loan deferrals and other forms of relief clients are seeking to weather the economic fallout of the coronavirus outbreak.

The Massachusetts-based credit union said its strong financial position will help it better serve members as the coronavirus crisis deepens.

Leaders like Chris Britt at Chime, Brett King at Moven and Jill Castilla at Citizens Bank of Edmond are getting inventive as they try to help those hurt economically by the pandemic.

A new survey shows more Americans are tapping into their savings as job losses rise and the pandemic's impact on the economy gets worse.

For many small providers, the coronavirus pandemic means falling revenue and rising expenses, as many either shut their doors to new business or staff up to deal with COVID-19 patients. Bankers say that means helping them bridge the cash-flow gaps until they can get back to business as usual.

The central bank is creating a facility to provide financing to banks participating in the Small Business Administration’s Paycheck Protection Program.

Credit unions in the Great Lakes State saw widespread membership growth in 2019 but it was the third consecutive year in which the pace of growth slowed.

After Congress temporarily lowered the leverage ratio used by smaller institutions, the federal agencies said they would allow a one-year transition before banks have to comply again with the regular standard.

Few lenders are finding creative ways to provide much-needed financial advice and emergency services online.

The only current CEO who steered a major U.S. bank through the financial crisis, Dimon said JPMorgan’s earnings will be “down meaningfully” this year as a result of the coronavirus pandemic.

Car loans make up about a third of credit unions' total lending portfolio, and any drop in that sector could resonate across the entire industry.

Sen. Marco Rubio, R-Fla., said that $349 billion will likely not be enough meet loan demand from small businesses seeking a lifeline to help them weather the economic downturn brought on by the coronavirus outbreak.

While the federal government is touting the early success of the Paycheck Protection Program, community banks are complaining about headaches and glitches.

CUs in the Eastern European nation were originally shuttered out of fears they could further the spread of COVID-19 but have been allowed to resume operations provided certain safety precautions are met.

The $5.9 billion-asset Liberty Bank in Middletown had set aside $5 million to make small-dollar loans to customers affected by the coronavirus pandemic.

The proposed Agility Bank would rely heavily on digital offerings. It is pursing a national charter with the Office of the Comptroller of the Currency.