Tag : small businesses

FinTech Automation Named to WealthTech 100 List
Banking Business News

Oxford Bank Provided over $342 Million in PPP Loans for 1,354 Local Businesses Impacted by COVID-19

Nearly 20,000 Local Jobs Saved Oxford Bank announced today that it has processed 1,951 loans totaling $342,203,867 under the Small Business Administration’s Paycheck Protection Program (PPP) to help local small businesses support payroll and related costs, saving approximately 20,000 jobs within Southeastern Michigan. The average loan size was approximately $175,400. The PPP, which was......
Nav Helps Over 80K Small Businesses Unlock PPP Funds In Latest Round
Artificial Intelligence Business Fintech Investment Services News

Nav Helps Over 80K Small Businesses Unlock PPP Funds In Latest Round

Fintech News Desk
In this PPP round, Nav facilitates over $50M in loans, commits to supporting small businesses left out by traditional banking Nav, the simple and intelligent financing platform for small businesses, today announced that they’re working with more than 80,000 small businesses to unlock PPP funds and have already channeled more......
Biz2Credit Small Business Lending Index Finds Loan Approval Rates at Banks Have Plummeted More Than 50% Since Last January
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Biz2Credit Small Business Lending Index Finds Loan Approval Rates at Banks Have Plummeted More Than 50% Since Last January

Fintech News Desk
Small business loan approval percentages at big banks ($10 billion+ in assets) increased slightly to 13.2% in January 2021 from December 2020’s figure of 13.1%, according to the latest Biz2Credit Small Business Lending Index™ released today. In comparison, one year ago in January 2020, big banks approved a record high......
Square Tops US Merchant Satisfaction Charts
B2B Business Fintech Investment Services News

Square Tops US Merchant Satisfaction Charts

Fintech News Desk
With more than half (51%) of U.S. small businesses acknowledging significant sales revenue declines as a result of COVID-19, overall satisfaction with the merchant services providers that enable small businesses to process card and mobile wallet payments has declined from 2020. U.S. Merchant Services Satisfaction Study,SM released today, challenges with......
CSI Partners With Autobooks To Enrich Relationship Between Small Businesses and Financial Institutions
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CSI Partners With Autobooks To Enrich Relationship Between Small Businesses and Financial Institutions

Fintech News Desk
To empower financial institutions with the tools they need to help their small business customers more effectively manage their finances, Computer Services, Inc. (CSI), a provider of end-to-end fintech and regtech solutions, has partnered with Autobooks, a fully integrated payments and accounting platform for small businesses, delivered through financial institutions. CSI......
Enigma Technologies and Verisk Financial Collaborate to Provide Insights into Small Business Financial Health, Offering Lenders Clarity
Banking Business Fintech News

Enigma Technologies and Verisk Financial Collaborate to Provide Insights into Small Business Financial Health, Offering Lenders Clarity

Fintech News Desk
Enigma Technologies, a data science company that collects and analyzes information on the health and identity of every U.S. business, announces a strategic collaboration with Verisk Financial, a Verisk company relied upon by leading financial institutions, payments providers, and retailers around the globe. During this year-long pandemic, lenders have been......
AlphaCode-selects-10-businesses-for-R10m-fintech-support-programme
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AlphaCode Selects 10 Businesses For R10m Fintech Support Programme

Fintech News Desk
Almost 200 fintech businesses applied for the AlphaCode Incubate programme which aims to grow innovative financial services entrepreneurs and find the next OUTsurance or Discovery. Ten have been selected for a development programme that provides funding, guidance from performance coaches and a panel of advisory experts, access to AlphaCode’s co-working......
LendingClub's Tips for a Financially Healthier 2021
Banking Fintech Investment Services News

LendingClub Receives Regulatory Approvals to Acquire Radius Bancorp

Fintech News Desk
LendingClub Corporation (NYSE:LC), America’s leading online lending marketplace connecting borrowers and investors, today announced that it has now received all the bank regulatory approvals necessary to complete its acquisition of digital bank Radius Bancorp (“Radius”). The company expects the acquisition to close on or around February 1, 2021, subject to......
Mastercard launches cybersecurity centre for SMEs
Business Fintech News Risk Management

Mastercard Launches Cybersecurity Centre for SMEs

Fintech News Desk
Small businesses are the backbone of economic growth. The needs of small businesses have not changed during the pandemic, but they have grown more acute. Read More: Triterras Launches Kratos Logistics Module in Partnership with Seven Oceans With cyberattacks on the rise, small businesses are a huge target. The fact......
Visa Introduces AI-Powered Innovations for Smarter Payments
Business Fintech News

Visa and Visa Foundation Extend Support of Minority-led Small Businesses

Fintech News Desk
The new initiatives build on Visa’s commitment to small businesses and Visa Foundation’s $200 million Equitable Access Initiative Supporting small and micro businesses (SMBs) has been an urgent priority throughout the COVID-19 pandemic, with a great need among minority-owned small businesses, which are disproportionately impacted. Building on Visa’s long-term commitment......