Small business loan approval percentages at big banks ($10 billion+ in assets) decreased again from 13.1% in September to 13% in October, according to the latest Biz2Credit Small Business Lending Index released.“Small business lending has been on a...
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November 09, 2023, 07:45 AM
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The global coronavirus pandemic hit small businesses especially hard despite the federal government programs tailored to pumping new capital into credit markets. But according to The Wall Street Journal, the pandemic masked a gradual contraction in...
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December 21, 2020, 08:55 AM
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OnDeck , an online lending service for small business, announced extensions to its existing credit facilities with Credit Suisse and Deutsche Bank on improved terms. The amended facilities provide an aggregate of $360 million of committed funding...
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March 13, 2019, 07:26 AM
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Wells Fargo & Company, one of the leading SBA (Small Business Administration) lenders in the U.S., announced that 38-year company veteran Don Fracchia has been named head of its SBA lending division.
In this role, Fracchia will lead more than 400...
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February 15, 2019, 07:15 AM
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Small business owners indicated declining optimism in the latest quarterly Wells Fargo/Gallup Small Business Index, with an overall Index score of 106. That marks the seventh consecutive quarter in which the score has topped 100, although it is 23...
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February 08, 2019, 07:22 AM
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The Federal Deposit Insurance Corporation (FDIC) published a report on the findings of its Small Business Lending Survey, which collected data on how banks conduct their lending to small businesses. The report found that banks of different sizes...
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October 02, 2018, 07:16 AM
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U.S. Bank has created a new, fully digital option for small businesses to apply for and receive a loan or line of credit.
The digital process is part of a broader evolution of how the bank interacts with customers. Single-owner businesses within U.S...
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September 25, 2018, 08:00 AM
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There is good news and bad news for small businesses in Q3: while they report a high degree of success securing bank loans in the prior three months, they are facing a growing problem attracting and retaining quality workers, according to the Q3 2018...
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September 19, 2018, 08:29 AM
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KeyBank announced the acquisition of a digital lending platform for small businesses created by Bolstr. The fintech software, expected to be implemented in 2018, will enable KeyBank to provide faster and easier access both to SBA loans and to...
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June 21, 2018, 07:08 AM
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CIT Direct Capital announced the results of its new survey conducted by The Harris Poll revealing that nearly three out of four small businesses in the U.S. plan to expand their product and service offerings this year. "With strong expectations for...
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May 01, 2018, 07:23 AM
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OnDeck announced the company will appoint Kenneth A. Brause as its Chief Financial Officer effective March 26, as part of a mutually agreed upon transition process between the company and current Chief Financial Officer, Howard Katzenberg. Katzenberg...
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March 13, 2018, 08:00 AM
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PayPal Holdings announced that it is acquiring small-business lender Swift Financial to bolster its Working Capital business. Terms of the transaction were not disclosed. PayPal Working Capital launched in 2013 and has provided access to more than $3...
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August 11, 2017, 09:00 AM
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Able Lending, an online lender to small businesses, announced that it received $100 million in debt financing from Community Investment Management (“CIM”), the first impact investment firm focused on marketplace lending. This investment allows Able...
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September 28, 2016, 07:41 AM
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National Funding, one of the largest private lenders of small business loans, announced that Torrie Inouye has been named the company’s president. Inouye will report directly to Founder and CEO Dave Gilbert.National Funding has experienced a 172%...
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April 12, 2016, 07:49 AM
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Sterling National Bank announced that Vincent (Vince) Maine has joined the Bank as Senior Managing Director to lead its newly-established Community Development Banking team. The new team expands the Bank's Community Reinvestment Act (CRA) initiative...
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December 23, 2015, 07:39 AM
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Small business loan approval rates through institutional investors and alternative lenders remained higher than any other category in July 2015, according to the Biz2Credit Small Business Lending Index, the monthly analysis of 1,000 loan applications...
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August 13, 2015, 07:17 AM
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Square 1 Bank announced that Scott Coleman has joined the bank's small business lending group as vice president and business development officer. Based in Atlanta, Coleman will focus on business development efforts throughout Georgia and the greater...
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August 14, 2014, 07:34 AM
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