Small business lending

The streaming service is taking out a two-year certificate of deposit with Hope Credit Union, which plans to use the funding to provide credit to communities often overlooked by mainstream banking.

The company's foundation, whose mission had been carefully planned by BB&T and SunTrust before their merger, opened just nine days before the novel coronavirus was declared a pandemic. Here’s what happened next.

The pressure is on the fintech, which helps banks make digital loans, to stanch its losses and show its lofty market valuation was deserved.

Similar to a law passed two years ago in California, legislation headed to the New York governor’s desk would require fintech and other nonbank lenders to uniformly disclose total cost of capital, APR and other metrics to potential borrowers.

A new Small Business Administration notice explains what steps lenders must take to seek approval of their forgiveness decisions under the Paycheck Protection Program. But lenders say lawmakers and regulators must do more to cut red tape.

Many bankers want to focus more on the forgiveness process, assessing the status of deferrals and pursuing traditional lending opportunities.

The report from the commission created to monitor the government's response to the pandemic comes as Congress begins negotiations over another round of stimulus.

On Mar. 31, 2020. Dollars in thousands.

Treasury Secretary Steven Mnuchin did not define "small," but advocates have been urging Congress to convert all Paycheck Protection Program loans of less than $150,000 into grants.

Pedro Bryant will oversee a $3 million effort to fund small businesses in disadvantaged communities.