Small business lending

Big banks and fintechs are aggressively adding digital capabilities to process applications quickly, creating a sense of urgency for community banks.

The New York-based online lender plans to spend an additional $15 million next year, largely on bank partnerships and international expansion.

Azlo, Bento, Bank Novo and other neobanks argue they are better at helping small businesses, giving them extra attention, technology and advice.

Traditional financial institutions still have an advantage over challenger banks when it comes to building relationships with small merchants, despite scandals that have befallen megabanks.

The New York unit of Popular has contracted with Biz2Credit to automate commercial loan approvals and handle the underwriting for applications under $100,000.

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The $380-billion asset company will soon join the parade of big banks and tech companies that are migrating online to meet the demands of business owners.

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The program will focus on increasing lending to small and medium enterprises in Guatemala, Burkina Faso and Kenya.

The San Antonio bank will refer customers seeking small-business loans to StreetShares, a financial startup that is similarly focused on serving veterans of the U.S. military.

ODX will pursue deals with banks that want to use the New York lender’s technology to offer online small-business loans.

The tech giants might be moving into small-business lending, but they’re more likely to take business away from large commercial lenders, not community institutions.

On Jun. 30, 2018. Dollars in thousands.

The agency's 7(a) program had a small year-over-year decline, with bankers pointing to lender discipline and more borrowers qualifying for conventional loans.

The economy could “positively slow down in mid-2019” and consumer debt levels are a huge concern, but technology and lessons learned from the crisis could still create opportunity for small banks, says Beneficial’s Gerry Cuddy ahead of a big speech on current conditions.

The agency found that banks with less than $10 billion in assets were more prone than larger lenders to go beyond using standard criteria in evaluating borrowers.

Among the three measures is a requirement for boards of publicly traded firms to include more women.

Readers parse JPMorgan Chase CEO Jamie Dimon's latest public comments, debate a California small-business lending bill, weigh the impact of open banking and more.

Few small businesses in Puerto Rico applied for credit to finance recovery from hurricane damage. The reasons are instructive for financial institutions’ response to disaster recovery, the New York Fed says.

Some lenders fear a moratorium on new participants, and other restraints, could be the beginning of the end for the agency's Community Advantage program.