One year after from President Biden's executive order on Section 1033 of the Dodd-Frank Act, there has been no discernible progress.

Even legal dispensaries can be risky business partners, so Southern Chautauqua Federal Credit Union is working with Green Check Verified to make sure everything is above board. "Just because somebody has a license from the state, they can't show up with a duffel bag full of cash like Scarface and say let's do business together," Green Check CEO Kevin Hart said.

At American Banker's Small Biz Banking conference, bankers said they are throwing community events, working with local nonprofits and trying to turn lending decisions from "no" to "yes."

The industry must adapt quickly to the changing preferences of entrepreneurs and the innovation of nonbanks such as PayPal and Square, according to speakers at American Banker's Small Biz Banking Conference. Traditional players such as U.S. Bancorp and Comerica say they're making the necessary investments.

KServicing, a SoftBank-backed small-business loan servicer, filed for bankruptcy after the company, which holds old loans made by the online lender Kabbage, was weighed down by allegations of overly lax lending under the U.S. government's Paycheck Protection Program.

The new offering is the latest step in the Minneapolis bank's push to provide digital tools that will help build deeper relationships with commercial clients.

Small business banking can be BIG for the financial institutions willing to tap the opportunity in this fast-growing market.

A new report from American Banker's parent company finds that traditional banks are vulnerable to competition from online banks and fintechs such as PayPal and Square. It recommends that banks build deeper relationships with small-business owners by adding more products to their traditional suite of offerings.

The challenger banks Mercury and Nerve are offering networking events, tailored accounts, credit cards and more to attract a once neglected market.

South End Capital, a division of Stearns Bank in Minnesota, is touting a nationwide Small Business Administration small-dollar loan product that can provide funding within days, perhaps hours. It's one of several recent small-dollar SBA lending initiatives now being offered by banks.

Bank of America says August was its best month ever for Small Business Administration lending and that it's optimistic a new program supporting women and minority commercial real estate borrowers could boost production even more.

We can't afford to miss this opportunity to build capacity in community development financial institutions.

Small-business owners who can't get loans from traditional sources need alternative ways to access capital.

The online-only bank's new checking account is the first release of its Do More Business line of products for small-business owners.

BayFirst Financial in Florida is using gross — not net — income to calculate how much credit smaller enterprises can be granted. Company officials say the Paycheck Protection Program used that approach with great success, but others contend the practice is risky for private-sector lenders.

As the industry manages high turnover, more companies are expressing dissatisfaction. Among firms that switch to a new bank, the previous bank's lack of knowledge about their business is an increasingly common reason, according to a recent survey.

The digital commercial bank has been fleshing out its business lines and technology over the past year. Its new capital raise will help further those efforts.

Flush with capital and touting its biggest loan pipeline ever, the nation’s No. 1 Small Business Administration 7(a) lender is laying plans to hire dozens of bankers away from competitors. It’s one of several companies seeking to expand at a time when others are likely to pull back on commercial lending.

The bank’s Business Essentials platform offers digital accounting management to smaller commercial clients. It comes at a time when banks are hunting for sources of fee income.

The challenger bank for small-business owners is making it easier for its customers to give their accountants access to their transactions and statements.