Business loan

Centene Announces Provider Support Program To Assist Providers With Grant Writing, Small Business Loan Applications

Retrieved on: 
Wednesday, April 8, 2020
Small Business Administration, Centene Corporation, Business loan

ST. LOUIS, April 8, 2020 /PRNewswire/ --Centene (NYSE: CNC) announced today the creation of a provider support program to assist its network providers who are seeking benefits from the Small Business Administration (SBA) through the CARES Act.

Key Points: 
  • ST. LOUIS, April 8, 2020 /PRNewswire/ --Centene (NYSE: CNC) announced today the creation of a provider support program to assist its network providers who are seeking benefits from the Small Business Administration (SBA) through the CARES Act.
  • The company will provide resources to aid providers in grant writing and business loan applications, among other key activities.
  • The program will help providers apply for various benefits including small business loans, a paycheck protection plan and various grants they may be eligible for.
  • Centene has made it a priority to support providers, especially small providers, during the COVID-19 pandemic.

Small Business Loan Approval Rates Plummeted in March 2020: Biz2Credit Small Business Lending Index™

Retrieved on: 
Tuesday, April 7, 2020
Economy, Money, Finance, Loans, Corporate finance, Banking, Small business financing, Business loan, Biz2credit, Bank

NEW YORK, April 07, 2020 (GLOBE NEWSWIRE) -- The approval percentage for small business loan applications at big banks ($10 billion+ in assets) plummeted to just 15.4% from a post-recession high of 28.3% in February 2020, according to the Biz2Credit Small Business Lending Index released today.

Key Points: 
  • NEW YORK, April 07, 2020 (GLOBE NEWSWIRE) -- The approval percentage for small business loan applications at big banks ($10 billion+ in assets) plummeted to just 15.4% from a post-recession high of 28.3% in February 2020, according to the Biz2Credit Small Business Lending Index released today.
  • The approval rate at small banks dropped dramatically, falling from 50.3% in February to 38.9% in March.
  • Small business loan approval rates among alternative lenders fell from 55.9% in February to just 30.4% in March.
  • Founded in 2007, Biz2Credit has arranged more than $3 billion in small business financing.

Baker Hill Releases New Baker Hill NextGen® SBA Fast Track

Retrieved on: 
Monday, April 6, 2020
Business loan, Loans, SBA

Baker Hill NextGen SBA Fast Track is an expansion of Baker Hill's small business and commercial lending capabilities designed to fast track small business applications looking to access CARES Act and Paycheck Protection Program (PPP) funds.

Key Points: 
  • Baker Hill NextGen SBA Fast Track is an expansion of Baker Hill's small business and commercial lending capabilities designed to fast track small business applications looking to access CARES Act and Paycheck Protection Program (PPP) funds.
  • With Baker Hill NextGen SBA Fast Track, financial institutions can make faster, smarter decisions when it comes to meeting the increasing demand for small business loans.
  • Many existing Baker Hill clients are already leveraging these assets through the Baker Hill NextGen lending product suite.
  • For more information on Baker Hill NextGen SBA Fast Track, visit www.bakerhill.com/cares-act-ppp-lending .

Lendio Launches Paycheck Protection Program Loan Application for Small Businesses

Retrieved on: 
Saturday, April 4, 2020
Economy, Business, Articles, Loans, Lendio, Business loan, Paycheck, Small business, Marketplace

Lehi, Utah, April 03, 2020 (GLOBE NEWSWIRE) -- Lendio , the nations leading small business loan marketplace, today announced the launch of an online application for small business owners to access the $349 billion in government funds set aside for the Paycheck Protection Program (PPP).

Key Points: 
  • Lehi, Utah, April 03, 2020 (GLOBE NEWSWIRE) -- Lendio , the nations leading small business loan marketplace, today announced the launch of an online application for small business owners to access the $349 billion in government funds set aside for the Paycheck Protection Program (PPP).
  • Lendio is also powering the online PPP loan application process for hundreds of financial institutions across the country in order to provide streamlined access to relief funds for these institutions small business clients.
  • The Paycheck Protection Program is part of the $2 trillion CARES Act signed on March 27, 2020, aimed at getting small business owners back on their feet and millions of Americans back to work.
  • Lendio is a free online marketplace that leverages machine learning to help business owners find the right small business loans within minutes.

Funding Circle Launches Pre-Application System for Paycheck Protection Program Loans

Retrieved on: 
Friday, April 3, 2020
Professional services, Technology, Small business, Finance, Banking, Internet, Economy, Business, Articles, Loans, Funding Circle, Business loan, Funding, Small business, Small Business Administration

Funding Circle , one of the largest US online small business loan platforms, launched a pre-application system for small business owners interested in funds from the Paycheck Protection Program, offered by the US Treasury and Small Business Administration (SBA).

Key Points: 
  • Funding Circle , one of the largest US online small business loan platforms, launched a pre-application system for small business owners interested in funds from the Paycheck Protection Program, offered by the US Treasury and Small Business Administration (SBA).
  • Funding Circle is doing all we can to help small business owners get quick access to vital capital during this historic crisis, said Bernardo Martinez, Managing Director of Funding Circle US.
  • Our pre-application system will enable many small business owners to get the funding they need as soon as fintech lenders are admitted into the program.
  • The Paycheck Protection Program is a $350 billion loan program authorized by the latest US economic stimulus package.

Unity Bank Offering SBA Loans for Businesses Coping with COVID-19

Retrieved on: 
Thursday, April 2, 2020
Economy, Financial services, Money, Bank, Banking, Economic history of Italy, Business loan, Radius Bank, Banner Bank

Thomas E. Lilley, Unity Bank Vice President/SBA Business Development Manager, said the bank will focus its PPP lending efforts on working with any Unity Bank customers who own businesses that can demonstrate economic hardships brought on by the crisis.

Key Points: 
  • Thomas E. Lilley, Unity Bank Vice President/SBA Business Development Manager, said the bank will focus its PPP lending efforts on working with any Unity Bank customers who own businesses that can demonstrate economic hardships brought on by the crisis.
  • Any Unity customers with consumer or business loans or simply bank accounts can email Lilley for assistance at [email protected] .
  • Unity Bank provides financial services to businesses and consumersat 19 branches throughout New Jersey and the Lehigh Valley, Pennsylvania.
  • Unity Bank provides community-oriented commercial banking services, including deposit accounts, loans, online and mobile services.For more information, please visit www.unitybank.com or call 800-618-BANK (800-618-2265).

Lendio to Hire 200 Agents to Match Small Businesses With CARES Act Loans

Retrieved on: 
Wednesday, April 1, 2020
Economy, Loans, Banking, Lendio, Business loan, Bank

Lehi, Utah, April 01, 2020 (GLOBE NEWSWIRE) -- Lendio today announced plans to hire up to 200 full-time small business loan agents .

Key Points: 
  • Lehi, Utah, April 01, 2020 (GLOBE NEWSWIRE) -- Lendio today announced plans to hire up to 200 full-time small business loan agents .
  • With the recent passing of the CARES Act and the inclusion of banks, credit unions and fintech lenders in the distribution of $350 billion in small business loans, Lendio anticipates loan demand to increase over 300%.
  • Lendio is a free online service that helps small business owners find the right loans for their diverse needs, including the funds set aside as part of the Paycheck Protection Program (PPP) under the CARES Act.
  • Were anxious to hire these loan agents who can help small business owners get quick access to this capital.

PayPal Takes Action to Assist Small Businesses Affected by Coronavirus

Retrieved on: 
Tuesday, March 31, 2020
Economy, Money, Business, Mobile payments, EBay, Elon Musk, PayPal, Dan Schulman, Business loan, Small business

The company is waiving certain fees and will be deferring repayments on business loans for some of its most affected small business customers.

Key Points: 
  • The company is waiving certain fees and will be deferring repayments on business loans for some of its most affected small business customers.
  • "Small businesses are the lifeblood of our national and global economies, creating jobs and helping local communities and families thrive.
  • We are taking immediate steps to help our small business customers who are most impacted by the coronavirus pandemic to help them navigate these challenging times," said Dan Schulman, president and CEO, PayPal.
  • PayPal continues to focus on providing access to the tools, products and financing on which its small business customers rely.

Biz2X Launches SBA Loan Platform for Banks to Start Lending Under CARES Act

Retrieved on: 
Monday, March 30, 2020
Economy, Business, Articles, Small Business Administration, Small business, Bank, Business loan

Under the $2.2 trillion economic stimulus plan, $350 billion is earmarked for small businesses in the form of loan guarantees by the Small Business Administration (SBA).

Key Points: 
  • Under the $2.2 trillion economic stimulus plan, $350 billion is earmarked for small businesses in the form of loan guarantees by the Small Business Administration (SBA).
  • Biz2X Accelerate SBA draws on 12+ years of Biz2Credits SBA lending experience.
  • With existing partners already signed up to launch Biz2X Accelerate SBA in the coming weeks, we encourage banks and credit unions to act fast.
  • Biz2Credits Biz2X platform offers banks and other financial institutions the ability to streamline their digital loan application processes, better manage risk, and grow their loan portfolios responsibly.

New StreetShares Initiative Provides Free Technology To Make Small Business Loans, Relieve Coronavirus Impact: Campaign Follows New Investment Round From Motley Fool Ventures

Retrieved on: 
Wednesday, March 18, 2020
Economy, Money, Finance, Loans, Business loan, Funding, Small business financing

Since its launch, nearly 30 banks, credit unions, and alternative lenders have used the award-winning technology to offer business loans.

Key Points: 
  • Since its launch, nearly 30 banks, credit unions, and alternative lenders have used the award-winning technology to offer business loans.
  • The initiative follows the closing of a $5 million financing round, which included funding from Motley Fool Ventures and existing investors.
  • "The StreetShares team has raised Lending-as-a-Service to a new level," said Ollen Douglass, Motley Fool Ventures Managing Director.
  • Started in 2014 as a low-cost, digital lender to veteran-owned small businesses, StreetShares built a best-in-class small business underwriting technology.