Small business lending

Breaking from its playbook as a conservative lender, Provident Financial in New Jersey is working with a fintech to offer unsecured loans online.

The Columbus, Ohio, bank has hired a former executive from Bank of America to run the new business, which will target physician, dentist and veterinary practices.

First Internet is poised to acquire an SBA lending team to help it meet an ambitious loan target for the year — a target the CEO plans on doubling in coming years.

Visa, Mastercard and PayPal are each putting up $10 million to back the cryptocurrency; company “gearing up” to reboot its flagging small business lending unit.

The online lending marketplace will use the equity financing from WestBridge Capital to diversify the digital products its offers banks trying to compete for small-business borrowers, its CEO says.

While Noah Bank’s CEO has been accused of self-dealing in connection with SBA loans, its chairman says the directors had a succession plan ready to go and are rallying to rescue the bank’s reputation.

The agency's spring rulemaking agenda includes the process for collecting small-business data as well as underwriting rules for GSE-backed loans. But what's missing from the list may be just as important.

In a state where laws are unusually favorable to high-cost business lenders, taxi drivers are not the only small-business people getting trapped in loans they can't afford to pay back. The question is, what are policymakers going to do about it?

Biz2Credit is offering its Biz2X platform to all banks after gaining HSBC and Popular Bank as clients.

First Internet will gain lenders and servicing staff, along with offices in Chicago and Indianapolis, from the deal.