FICO

DECEMBER 18, 2018

There is an art to small business and commercial and industrial (C&I) lending. Underwriters across the financial spectrum of banks, credit unions, and independents do a great job of mitigating risk when dealing with large, complex lending requests. the number of, terms of, and types of products in the offering, and more.

Small Business 53

Small Business Underwriting Credit Union Origination 53

PYMNTS

JANUARY 25, 2019

Equipment finance company CapX Partners has announced an integration of Moody’s Analytics technology to strengthen its underwriting and risk mitigation capabilities. CapX noted that Moody’s Analytics’ tool addresses the pain point of lack of access to historical data on small businesses seeking financing.

Underwriting 43

Underwriting Small Business Risk Mitigation Underserved 43

Lending Front

JUNE 15, 2021

Yet for small business loan requests, many lenders are still relying on manual processes to identify worthy entrepreneurs seeking funding. . What would it take to get small business lending up to speed? . And those applicants that do make it through are met with stringent lending criteria that favors large businesses.

Underwriting 52

Underwriting Small Business Federal Reserve Assessments 52

PYMNTS

APRIL 8, 2020

Small businesses overwhelmed U.S. It was a shaky start for the initiative that was designed to ease the pain of the coronavirus pandemic, with small businesses expressing frustration at the “ nightmare ” process of attempting to access a portion of the $349 billion available under the legislation. billion in applications.

FinTech 98

FinTech Small Business Credit Union Payroll 98

PYMNTS

DECEMBER 20, 2018

OnDeck will be adding a new corporate financing product to its offering next year: equipment finance. 19) OnDeck said it will introduce equipment finance loans to certain U.S. In addition to the new product, OnDeck also announced that Mark Erickson joined the company to become its vice president of equipment finance. “I

Finance 52

Finance Small Business Origination Underwriting 52

PYMNTS

APRIL 16, 2020

Accelerated data sharing has become a focal point for small business lenders and FinTechs looking to speed up the time it takes for SMBs to apply for and receive much-needed funding. This week’s look at the latest in bank-FinTech collaborations and open banking initiatives finds a focus on small business lending: In the U.K.,

Finance 67

Finance Payment APIs and Integration Cross-Border Payments Cross-Border 67

PYMNTS

MAY 22, 2019

Moody’s Corporation is partnering with the Foundation for Small Business Development (FFSBD) to connect small businesses with cash flow forecasting solutions and other financial resources. “Effective cash flow management is essential for every small business in the U.S.,”

Small Business 40

Small Business Advisors Financial Inclusion Underwriting 40

PYMNTS

MARCH 12, 2020

But the latest initiatives reveal a growing interest in transforming internal processes, particularly among smaller banks looking to upgrade their core infrastructure and elevate small business lending operations. Jack Henry Links FIs to AR Finance Offering.

Payment APIs and Integration 77

Payment APIs and Integration API Small Business Underwriting 77

PYMNTS

AUGUST 10, 2020

Despite government initiatives to connect small businesses to capital as quickly as possible, the U.S.’s Even as small businesses are able to access capital, it’s often not enough to endure the ongoing market volatility and uncertainty. Traditional bank loans aren’t always easy to access, either.

B2B 52

B2B Finance Small Business Third-Party Service Provider 52

PYMNTS

AUGUST 24, 2018

A lack of access to funding may have opened the doors for alternative finance, but AltFin’s ability to quickly innovate and provide digital services — often faster than traditional banks could — means that online lending platforms have been able to compete and gain traction. “There are a lot of people popping up and disappearing.”

Small Business 40

Small Business Federal Reserve Underwriting Finance 40

PYMNTS

APRIL 2, 2018

Quarles, the Federal Reserve’s vice chairman for supervision, recently spoke at the HOPE Global Forums Annual Meeting to reflect on the changes endured by the nation’s small business lending market, according to reports on Friday (March 30) in JD Supra. Business owners can receive funds in a couple of days or even hours.”.

Small Business 40

Small Business Fed Financial Inclusion Underwriting 40

PYMNTS

MAY 31, 2019

The 2008 financial crisis gave rise to the alternative lending market as a result of a massive gap in available capital, especially for small businesses and startups. The market’s creation was a spark that ignited a slew of disruptive changes for the small business financial services space.

Finance 52

Finance Small Business Federal Trade Commission Cybersecurity 52

Fintech Finance

JULY 15, 2024

According to the British Business Bank, nearly half (48%) of all UK SMEs with employees sought external finance in 2023, demonstrating the high demand for solutions like Paycorp’s. The post Paycorp Expands Embedded Business Funding into UK appeared first on Fintech Finance.

ATM 105

ATM Credit Risk On-Demand Underwriting 105

PYMNTS

DECEMBER 11, 2020

Their financial service providers are challenged, too, in looking into the future and forecasting the performance of small business clients seeking financing to carry them through the pandemic. According to Puskar, small businesses face a tough challenging act when it comes to their financing needs.

Posting 93

Posting Small Business Assessments Returns 93

PYMNTS

APRIL 26, 2017

In a press release , nCino said it has enhanced its small business lending functionality by adding online application, underwriting automation and e-signatures, as well as integrated document preparation tools, to allow small businesses to get financing more quickly.

Small Business 40

Small Business Credit Union Automation Underwriting 40

PYMNTS

DECEMBER 17, 2018

Use of alternative finance (AltFin) sources among small business (SMB) owners is on the rise, but still has a long way to go before it poses a legitimate threat to traditional banks’ market dominance. Mercator Advisory Group data released earlier this year found that 27 percent of small businesses in the U.S.

Small Business 78

Small Business Finance Non-Bank Assessments 78

PYMNTS

OCTOBER 21, 2019

Accounting platforms are increasingly positioning themselves at the center of the small business ecosystem,” he said, adding that this evolution “makes a lot of sense” with many companies considering the accounting portal the “single source of truth” for company finances. feel like a second job.”. feel like a second job.”.

Small Business 40

Small Business Payment APIs and Integration Underwriting Value Added Service 40

PYMNTS

MARCH 12, 2016

Barreto notes that despite the fact that jobs are shaping up to be a major concern during this election cycle (particularly among Hispanic voters, but among the voting population in general as well), small businesses aren’t getting much play in the primary conversation this year. And for good reason.

Small Business 21

Small Business Non-Bank Economy Underwriting 21

PYMNTS

JULY 3, 2018

The pullback of banks from the small business lending space left a gap filled by alternative lenders who are exploring new ways to connect entrepreneurs with capital, a journey that includes innovation and a bit of experimentation. They never ask what your business is worth.”

Underwriting 40

Underwriting Small Business Assessments Third-Party Service Provider 40

PYMNTS

FEBRUARY 20, 2020

As Open Banking spreads further into the small business (SMB) financial services market, accounting and lending platforms are taking advantage. Small business accounting platform FreshBooks recently announced an agreement to integrate with Taxfyle , a data sharing arrangement that aims to automate tax prep for small business owners.

Accounts 87

Accounts Small Business Agreements Risk Mitigation 87

PYMNTS

DECEMBER 19, 2018

Online small business lender OnDeck has announced that it will offer equipment finance loans to select U.S. small and medium-size businesses (SMBs) next year. Starting next year, OnDeck will offer its own equipment finance loans, ranging from $5,000 up to $100,000, with terms anywhere from 24 to 60 months.

Finance 44

Finance Small Business Origination Underwriting 44

PYMNTS

SEPTEMBER 7, 2018

Take Udaan , for example, an Indian B2B eCommerce startup that plans to use its latest venture capital raised to introduce business financing and warehousing solutions for its corporate customers. One startup, Colombia’s Portal Finance, also signals investors’ appetites for multitasking B2B FinTech startups.

Finance 46

Finance Underwriting Risk Mitigation B2B 46

PYMNTS

MAY 21, 2018

Small business invoice financing platform Fundbox is targeting the events industry through a new partnership with Eventbrite. Fundbox underwrites financing using financial data of customers using Eventbrite, including sales history. According to U.S.

Finance 46

Finance Small Business Underwriting Facilitators 46

PYMNTS

NOVEMBER 30, 2017

This year, Black Friday , Small Business Saturday and Cyber Monday all raised the bar on holiday shopping levels. Tis the season for a surge in spending, especially at small businesses (SMBs). For some businesses, seasonal shifts simply mean winter in the U.S. coincides with a dip in sales and a cash flow crunch.

Small Business 40

Small Business Processors Point-of-Sale (POS) On-Demand 40

PYMNTS

JANUARY 5, 2021

Longtime small business microlender Opportunity Fund is teaming up with a trio of credit unions (CUs) as part of the nonprofit’s bid to invest $1 billion in “marginalized businesses” across the country over the next two years. The San Jose-based community development financial institution, or CDFI, on Tuesday (Jan.

Credit Union 79

Credit Union Small Business Underserved Agreements 79

Finovate

DECEMBER 16, 2024

Capitalise, a business finance platform based in the U.K., has forged a strategic partnership with data and open finance network Plaid. The collaboration integrates Plaid’s open banking services with Capitalise’s Instant Offers to simplify and streamline small business funding. small businesses.”

Small Business 59

Small Business Non-Bank Risk Assessment Finance 59

PYMNTS

MAY 29, 2019

They know the uncertainty of going to traditional financial institutions (FIs), even those rooted in their communities, that might not want to take on the risks or economics of extending smaller lines of credit to small businesses (SMBs), with fortunes that may change and which may find repayment challenging. and global economy.

PayPal 88

PayPal Small Business On-Demand Finance 88

PYMNTS

MAY 30, 2018

Small businesses (SMBs) seeking loans decreased at the end of 2017, and companies felt the sting of financial challenges more acutely. Financing of all sorts was on the downswing, and SMB owners began dipping into their own piggy banks before seeking a lending agreement. percent of contracting dollars went to those companies.

Underwriting 46

Underwriting Small Business Federal Reserve Community Banks 46

PYMNTS

APRIL 9, 2020

The demand for Small Business Administration (SBA) loans has led the Federal Reserve to consider allowing non-bank lenders to speed distribution of $350 billion in loans through the coronavirus crisis, Reuters reported. The daily demand for loans has been more than the SBA typically processes in a year. trillion in loans. “Our

Federal Reserve 70

Federal Reserve Fed FinTech Small Business 70

Finovate

NOVEMBER 14, 2024

Paychex launched Paychex Funding Solutions , expanding its offerings into small business lending to give SMBs quick access to funds via invoice factoring. Paychex had previously offered small business funding in partnership with Biz2Credit. This is not Paychex’s first dip into the small business financing world.

Product 59

Product Payroll Small Business Underwriting 59

PYMNTS

AUGUST 20, 2019

Skipton Business Finance is putting up £40 million ($48.5 businesses in the recruitment space, BDaily News reported on Monday (Aug. Skipton Business Finance is proud to be offering this amount of money for recruitment businesses,” Managing Director Greg Bell told BDaily News. . It’s bridge financing.”.

Finance 46

Finance Underwriting Small Business Process 46

PYMNTS

JULY 29, 2016

Alternative lenders and marketplace finance companies emerged to fill in gaps left by traditional banks when it comes to financing and loans, but according to Bloomberg reports, another industry is getting in on the action: insurance. Not to mention, insurance companies are experts in the field of underwriting.

Finance 40

Finance Underwriting Small Business Compromise 40

PYMNTS

OCTOBER 7, 2019

Needs, Nav CEO Levi King told Karen Webster in a recent conversation, often come in two flavors for the typical small business owner. Nav certainly has data on that subject — as it is a business financing marketplace for SMBs that leverages AI and machine learning to offer recommendations to its roughly 1 million U.S.

Finance 47

Finance Underwriting Small Business Economy 47

PYMNTS

JULY 25, 2019

Moreover, she noted, it is a model that boxes out businesses unnecessarily, because while time in business and revenue are certainly both ways to look at a small business and understand how healthy it is, they aren’t the only ways.

Finance 53

Finance Risk Assessment B2B Underwriting 53

PYMNTS

AUGUST 4, 2017

With an eye on companies looking to grow internationally, SME financing company Franklin Capital Network announced news that it has launched an export financing operation. The unit will provide exporting SMEs with financing, accounts receivable management and collection services, reports said. businesses,” Krzyzanowski added.

Finance 43

Finance Cross-Border Underwriting Small Business 43

PYMNTS

SEPTEMBER 12, 2018

Small businesses (SMBs) frequently cite cash flow crunches and the struggle to access capital as key hurdles to the success of their business. As the industry grows, access to small business financial data is a critical component of risk mitigation and underwriting practices.

Finance 40

Finance Risk Mitigation Small Business Mitigation 40

PYMNTS

NOVEMBER 1, 2018

based alternative small business lender iwoca is linking into data from Lloyd’s Bank accounts to streamline loan underwriting for joint customers. “This will create greater competition in small business lending and, as a result, better, fairer services for small business owners.”

Accounts 57

Accounts Small Business Underwriting Facilitators 57