No one company can solve this credit scoring problem. Banks, fintechs and innovative startups must come together in partnership to share information and change the existing system.

Mercury, NorthOne and other challenger banks that serve small business owners are seeing a boost from SVB's collapse. But the effects may be short-lived.

About 40% of smaller firms applied for private-sector financing last year, which was up from 25% in 2021, according to a survey by the Federal Reserve banks. The results suggest a return to pre-pandemic credit needs, but borrowers now have different plans for the use of financing.

The sweeping legislative package would require digital-asset businesses to get licensed and add to the authority of the state financial services regulator. Illinois officials say the changes would protect consumers and level the regulatory playing field, but a banking trade group is pushing back against some of the ideas.

The program expected to fund 1,500 businesses but since its debut, New York City's Department of Small Business Services received over 10,000 applications.

A new Risk Management Association survey found that 84% of small lenders cite credit quality as a leading worry for 2023 because of the likelihood of a recession.

Northeast Bank in Portland is putting capital earned from the Paycheck Protection Program to use, purchasing $1.1 billion of loans and launching a small-dollar Small Business Administration lending program.

Banks and other lenders revived special-purpose credit programs after racial-equity protests in 2020 prompted them to reexamine their services for historically underserved groups. Now they're taking those initiatives nationwide.

The Small Business Administration must be prepared to effectively oversee any new lenders it allows in its flagship 7(a) loan guarantee program to guard against fraud and other risks, Democrats and Republicans on the Senate Small Business Committee warned.

The institution's Impressia Bank will be dedicated to the professional and financial advancement of women business owners and entrepreneurs.