Small business

Small and midsize banks would pay for access to the Monit app and offer it to small-business clients as an add-on service.

More than 160 institutions will use the money to help members weather the coronavirus by offering new products and providing help with loan payments.

The bureau will detail how it will implement a Dodd-Frank Act provision requiring the agency to collect information on small-business lending in order to identify discrimination.

The bank's innovation group has developed a software tool for law firms. It hopes the project will help it speed products to market and attract top technology talent.

A public-private partnership that has fewer rules and restrictions than the Paycheck Protection Program would save more small businesses.

A survey of companies that received funding from the Paycheck Protection Program also showed that respondents on average have cut their payroll costs by more than half.

The owner of The Shuckery in Petaluma, Calif., says she was unable to get a Paycheck Protection Program loan until she responded to an email from the delivery service and BlueVine.

The increased use of technology, along with holistic data points, can eradicate racial and gender disparity for fintech lenders in small business, says Become’s Eden Amirav.

The increased use of technology, along with holistic data points, can eradicate racial and gender disparity for fintech lenders in small business, says Become’s Eden Amirav.

This personal funding has blurred the line between personal and business finances more than ever.

ZenBusiness, which provides services to small businesses, will now offer banking along with tax, accounting and insurance help.

The accounting and payroll software provider’s QuickBooks Cash account is fee-free and integrates with other products the company offers small businesses.

Now is the best time for SMBs to adapt before the major influx of traffic that will come when businesses are allowed to fully reopen, says Fattmerchant's Suneera Madhani.

The online lender has already branched out into facilitating payments and analyzing cash flow for small-business customers. Its new checking account is meant to round out those services.

Mortgages taken out to fund business operations can now be modified in bankruptcy. That’s a relief to borrowers — particularly with business failures expected to increase as the pandemic drags on — but a possible headache for banks and investors that hold the loans.

Rho initially focused on startups, but now it’s targeting businesses with 100 or more employees.

The company has established a fund that will provide capital, technical assistance and long-term recovery support to small businesses, especially minority-owned companies. The other megabanks are expected to donate their fees, also.

American Express Global Business Travel has developed a new service enabling small businesses to manage travel, office purchases and cash flow on a single platform.

Amex is offering cash rewards on a global scale for customers who shop at small businesses that are trying to recover from coronavirus lockdowns. The card brand also pledged $10 million to support Black-owned small businesses over the next four years.