Small business lending

The bank's five-year commitment will focus on providing more capital to small businesses and expanding access to affordable housing and homeownership.

The Minneapolis company’s partnership with the Black Business Investment Fund and other community development financial institutions is an example of how banks can fulfill multimillion-dollar pledges aimed at closing the racial wealth gap.

The CFPB is giving stakeholders until Dec. 1 to file comments on a potential overhaul to its rules related to the Equal Credit Opportunity Act, which prohibits discrimination in credit and lending decisions.

With big banks largely shunning the program, small banks see an opening to grab more market share in commercial lending.

Ulule is working with Bank of the West to build name recognition. It hopes to collaborate with other banks and credit unions as it vies with larger companies such as Kickstarter and GoFundMe.

The Paycheck Protection Program has masked what has been a year of tepid demand and tightened lending standards. And bankers aren't expecting a rebound anytime soon.

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.

The card giant could pay $850 million in cash for the online small-business lender, according to a person familiar with the talks.

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.

A survey of companies that received funding from the Paycheck Protection Program also showed that respondents on average have cut their payroll costs by more than half.

Many sellers are ditching the loans to avoid the cumbersome forgiveness process. For others, the Paycheck Protection Program was never a strategic fit.

The owner of The Shuckery in Petaluma, Calif., says she was unable to get a Paycheck Protection Program loan until she responded to an email from the delivery service and BlueVine.

The global pandemic and stalled trade negotiations have discouraged farmers and ranchers from taking on more debt and made banks uneasy about extending more credit.

Along with the assets-under-management milestone, Michigan Business Connection noted that its partner credit unions have financed more than 1,000 Paycheck Protection Program loans.

Besides reauthorizing the Paycheck Protection Program, Congress should upgrade the loan forgiveness process, offer businesses the chance to take out a second loan and ensure the pricing satisfies lenders, bankers say.

Over 90% of loans from CUs in the Empire State are eligible for forgiveness using the $150,000 threshold.

The company falsely advertises its cash advances as requiring no collateral or personal guarantee, according to a lawsuit filed by the Federal Trade Commission.

The legislation proposed by Rep. Nydia M. Velázquez, D-N.Y., goes further than recent state efforts to require better disclosures for high-cost lenders, but it would face an uphill battle in the GOP-controlled Senate.

This personal funding has blurred the line between personal and business finances more than ever.