Small business

Community banks, frustrated that online and email marketing often gets overlooked, are trying to get people to engage with local businesses in hopes of landing more clients.

The pioneering online lender Kabbage has raised $135 million in new equity financing, with three large multinational banks among the lead investors, the company announced Wednesday.

Valley National Bank in Wayne, N.J., has named Bernadette Mueller senior Community Reinvestment Act officer.

OnDeck Capital has hired Gary Fearnall as its country manager for Canada.

Empowering women to become more financially independent has been a hallmark of Lori Chillingworth's career as a small-business banker. Now she's on an even bigger mission: to help more women in Utah gain seats on corporate boards and compete for political office.

Marlin Business Services in Mount Laurel, N.J., has partnered with property and casualty insurer Hartford Financial Services Group to expand services for its core clientèle.

Kabbage is one of many nonbank lenders looking to partner with traditional financial institutions. But the firm is facing a tough sell with bankers who worry about the risks associated with ceding control of the loan-underwriting process.

Banks worldwide are in danger of losing significant profits in several lending areas to nonbank alternative lenders, according to a McKinsey study.

Emclaire Financial in Emlenton, Pa., has exited the Small Business Lending Fund.

In comments to the Treasury Department, traditional financial institutions are calling for more oversight of an industry that is fast becoming a big competitive threat.