Small business

The bank is selling a bundle of products that enable businesses to store global currencies inside the U.S. in FDIC-insured accounts, lowering foreign exchange risk and reliance on third parties.

As the city slowly recovers from January's wildfires, Banc of California is working with a local nonprofit group to help small businesses bounce back.

Kate Luft, a former chief of staff for Citi CEO Jane Fraser, is now running the company's U.S. retail banking business. In her first interview since getting the job, Luft discussed what banks can learn from airlines and the advantages that incumbents have over fintechs.

A pair of GOP-sponsored bills would modify three of the agency's major programs in hopes of making more capital available to manufacturers.

More than 1.4 million small businesses bank with U.S. Bank, according to the company, and it's now offering help with managing expenses and accepting payments.

The sector includes construction companies and others that rely on materials from outside the U.S., which could challenge lending based on future payment flows.

For the first time in four years, more small businesses reported a drop in income than an increase, according to a survey by the 12 regional Federal Reserve banks.

Trump's Small Business Administration told probationary staff members it had mistakenly sent them termination notices, then informed some of them the next day they were fired after all.

Quicken Business & Personal will help entrepreneurs manage their personal and business accounts on one platform by aggregating financial data from banks.

The gulf between what small businesses need and what banks are providing could be an opportunity for bankers.

Banks that don't focus on credit cards for this market may find larger banks and fintechs are eating their lunch.

The decision to approve the fintech's application to make 7(a) loans came nearly a month after Funding Circle's U.K.-based CEO hinted it is considering a sale of its U.S. operations, alarming some members of Congress.

To serve an increasingly online audience, POS Nation has acquired agriculture e-commerce platform GrazeCart, an example of vendors joining forces to adapt to shifts in the agriculture industry.

Experts predict the number of small businesses turning to an employee-ownership model will accelerate in the coming years. The would mean opportunities for banks that advise on such transitions.

The card giant is offering small merchants a debit card and account that provides a view of their cash flow across multiple products. Experts say this is a good step but that business owners may want more.

Small-business owners need more help from financial services companies when it comes to making major decisions about their companies' future.

The Connecticut bank joins Zions Bank and Leader Bank in recent upgrades to the technology they use to serve this market – and hopefully snag customers who fled Silicon Valley Bank after its failure.

Some lenders to companies owned by women, minorities and veterans say they'd prefer that the Small Business Administration strengthen its Community Advantage program rather than bring them into the agency's flagship loan-guarantee program.

Entrepreneurs often call fees a drawback of their current financial institution, according to research from Arizent. Banks should focus on developing long-term relationships with these customers, rather than charging for every service, experts say.

The companies, which partnered to create a new digital shopping experience, say it made sense to focus on mom and pop stores that had to pivot to e-commerce during the pandemic. These businesses will be the first to get collaborative cloud-based tools including maps, marketing and payments.