Small business lending

The people of tiny Duncan, Ariz., have found creative ways to adapt to life in a banking desert, but their experience augurs a worrisome future for many other rural communities.

New legislation in Congress seeks to do away with a data-collection mandate that addressed discrimination in business lending. The repeal measure has the support of two bank industry groups based in Washington.

On Sep. 30, 2019. Dollars in thousands, except for average loan amount.

The bank, whose 7(a) originations have plummeted in recent years, is developing a portal that will let applicants upload documents, complete forms and track application progress.

The Small Business Administration has told lawmakers it can reinvigorate its streamlined guarantee program by nearly tripling the maximum loan size. So far, Congress has been mum on the idea.

David Becker, who founded First Internet Bank two decades ago, says traditional banks' digital-only ventures are only making his bank look more mainstream.

Bank regulators are considering a bypass to the 2015 court ruling governing loan sales that would ultimately offer more credit options to entrepreneurs.

George Cook could have joined Somerset Trust, where his father is CEO. Instead, he founded Honeycomb Credit, a crowdfunding platform that competes with banks.

The startup — whose backers include CitiVentures, SVB Capital and Microsoft's venture fund — says it's building an end-to-end platform for small businesses that integrates loans, checking, payments and other services.