Small business

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.

Challengers like Joust, Lili and NorthOne that offer banking services to freelancers and small-business owners are getting record levels of new customers as the traditional workforce thins.

A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic.

The maker of accounting and invoicing software is, with the help of a community bank, the latest fintech to cater to small-business owners.

A blueprint that includes more CRA and tax credits for lower-income African Americans would help a demographic disproportionately harmed by the coronavirus pandemic.

Manual work is time-intensive and resource-draining, especially when it involves high volumes of data across disparate systems. When it comes to payments, this can get really complicated with all the moving pieces, says Global Payments Integrated's Ashley Jones.