Small business

U.K.-based small business lender Capital on Tap has partnered with small business software provider Receipt Bank to launch a new credit card with access to credit lines.

The $2.1 billion-asset CU is working with Local First Arizona and State Forty Eight to encourage consumers to patronize area businesses.

Fears are growing that the rapid rise in fee-charging ATMs could have catastrophic consequences for the U.K.’s fragile SME market, with major supermarkets and card networks predicted to be the biggest beneficiaries.

Azlo will offer customers the ability to apply for a Kabbage loan through a new program called Mission Street Capital.

Once banks offer digital invoice processing and order approvals, small businesses would no longer need to manage the risk and hassle of paper-based transactions, argues Erik De Kroon, CEO and co-founder of Yordex.

Banks are not providing enough visibility into payments and cash flow to aid small businesses' decision-making, writes Erik De Kroon, CEO and co-founder of Yordex.

There are emerging payment innovations and strategies, such as card controls and online payment technology and analysis, that can help banks and other financial institutions connect with small businesses, writes Erik De Kroon, CEO and co-founder of Yordex.

Here are seven startups that received multimillion-dollar venture capital investments in recent weeks to accelerate the development of banking products and services.

Payments platform BizPayO is launching an online cash flow tool it says will help small and medium-size business owners tackle what amounts to a $3 trillion late-payment problem annually that undermines operations.

Alternative providers like courting new banks. De novos like the modern features many alternative providers offer upfront.

Gail Jansen, who oversees member business lending at Kinecta Federal Credit Union, warned that increasing fees for Small Business Administration loans would hurt borrowers.

The bank is pledging to lend another $2 billion in a market where it has invested $3.6 billion in various community development initiatives since 2016. Most of the new funds will be used to make loans to small businesses that operate in low- and moderate-income neighborhoods.

Lenders argue that the move is premature, citing record-low charge-offs in the agency's 7(a) program.

Linda McMahon is planning to step down from leading the Small Business Administration to help raise money for President Donald Trump’s re-election campaign, according to people familiar with the matter.

As more national banks leave smaller communities and focus on large customers, fintechs are creating an "Uber effect" with an easier experience. Small businesses are increasingly looking to borrow money and fund their growth initiatives, and need a partner who can deliver, argues William Phelan, president of PayNet.

The Nusenda Credit Union Foundation, which is being honored with a Wegner Award, works with its partners to find creative solutions to unmet needs, including its mircolending program, Co-op Capital.

Adding new mobile payment methods and integrated platforms can take some of the sting out of processing issues for small to medium sized businesses, according to Tina Hsiao, vice president of risk and chargeback operations at WePay.

Karen Mills, who led the Small Business Administration from 2009 to 2013, is joining the Eastern Bank spinoff Numerated as an adviser and investor as it tries to bring online-lending technology to community banks.

The Small Business Administration should consider partnering with fintechs, which have the capacity to approve loans quickly, to help avoid the kind of application backlog the agency faced after the last government shutdown.

The Small Business Administration should consider partnering with fintechs, which have the capacity to approve loans quickly, to help avoid the kind of application backlog the agency faced after the last government shutdown.