PYMNTS

APRIL 12, 2020

PayPal has become one of the first non-bank institutions allowed to distribute loans to help small- to medium-sized businesses (SMBs) in response to the coronavirus pandemic, according to a press release. The government allotted $350 million for that purpose as part of the recent $2 trillion federal CARES Act passed in March.

PayPal 98

PayPal Non-Bank Shutdown Disputes 98

PYMNTS

JUNE 19, 2020

More help for certain small business owners could be on the way if Congress approves another round of Paycheck Protection Program (PPP) loans. The Prioritized Paycheck Protection Program (P4) Act would allow businesses with fewer than 100 employees to get a second loan. In the House, U.S.

Small Business 91

Small Business Shutdown Underserved Treasury 91

PYMNTS

DECEMBER 27, 2018

At the same time that the European Central Bank is warning of a slowing global economy, small businesses in the U.S. Instead of hiring more workers, small business owners have now shifted their focus to finding new customers and clients. are expressing concern about their own growth prospects.

Central Bank 76

Central Bank Small Business Shutdown Economy 76

PYMNTS

AUGUST 5, 2020

Chief Financial Officer Amrita Ahuja told reporters on a call Tuesday night Cash App saw meaningful uplift from customers who deposited government stimulus and unemployment checks. Square’s gross profit for its core seller business fell 9 percent in Q2 compared to last year to $316 million. But not all the news was good.

Tax Refunds 87

Tax Refunds Small Business Shutdown Venmo 87

PYMNTS

NOVEMBER 23, 2020

Before the pandemic, late B2B payments put a cash flow crunch on countless small and medium-sized businesses around the world. Now, amid the coronavirus crisis, many of those SMBs are getting hit even harder as supply chain disruptions, sluggish business and shutdowns have created a ripple effect of delayed invoice payments.

Small Business 82

Small Business B2B Shutdown Governance 82

PYMNTS

OCTOBER 28, 2020

Switzerland reports about a third of intensive care units remain available for now, but they run the risk of filling up completely within the next 10 days if current infection rates persist, Andreas Stettbacher, a government delegate for the country’s Coordinated Medical Services, told Reuters. The Fear of More Economic Fallout.

Economy 71

Economy Shutdown Returns Governance 71

PYMNTS

JULY 15, 2020

Brainard said the economy’s apparent well-being in June was mostly artificial, stemming from the efforts from the government such as the CARES Act to keep the economy afloat during the lockdown period. Larkin wasn’t alone in that — Harvard University researchers estimated that around 110,000 small U.S.

Federal Reserve 73

Federal Reserve Shutdown Economy Fed 73

PYMNTS

SEPTEMBER 7, 2020

In March, American Express — the largest commercial card issuer — was next in line to face criticism for its commercial card fees, with accusations that sales associates misled small businesses with regards to rewards and fees on the company’s SMB card products. In late-March, Bloomberg reported that large U.S. Summer Trips: Canceled.

Commercial Card 98

Commercial Card Push-to-Card Small Business Card Issuer 98

PYMNTS

APRIL 29, 2019

With first-quarter earnings reports rolling out, it’s time to take a look at the state of small businesses and how they fared for the first three months of 2019. Research also revealed new signs of an impending recession in the form of dwindling numbers of small business exits. Beyond the U.S.,

PayPal 67

PayPal Small Business Ransomware Shutdown 67

PYMNTS

FEBRUARY 18, 2019

The move by the two supermarket firms also follows comments from Australia’s government that larger firms found lacking in terms of timely payments to small firms would be “ named and shamed.” ” he said — and that one option might be to take non-compliant firms out of the running for government contracts.

Shutdown 49

Shutdown Payments Governance Government 49

PYMNTS

DECEMBER 16, 2020

The COVID-19 pandemic has been hard on everyone – consumers, businesses, government officials and healthcare workers – but the pain has been far from evenly distributed over the past nine months. Small and medium-sized businesses (SMBs) have unfortunately found themselves at or near the top of COVID-19’s 2020 hit list.

On-Demand 112

On-Demand Shutdown Returns Economy 112

PYMNTS

JUNE 22, 2020

To get a sense of stagnant spending from the affluent can be damaging, consider the fact that, according to the paper, Small business revenues in the most affluent ZIP codes in large cities fell by more than 70 percent between March and late April, as compared with 30 percent in the least affluent ZIP codes.

Consumer 90

Consumer Small Business Push-to-Card Research 90

PYMNTS

DECEMBER 23, 2020

China’s State Council announced late Tuesday that small and micro-sized businesses can defer loan payments past first quarter 2021 as needed, according to CNBC. Certain banks catering to small businesses will also continue to receive government support in the wake of a massive shutdown earlier this year due to the COVID-19 pandemic.

Economy 69

Economy Returns Shutdown Small Business 69

PYMNTS

FEBRUARY 14, 2019

Small Business Administration (SBA) loans have found a new avenue through which they can reach small businesses. SBA loans can be used for working capital, acquisitions, equipment financing, startup financing, debt refinancing and other small businesses finance purposes.

Shutdown 40

Shutdown Small Business Security Finance 40

PYMNTS

JUNE 24, 2020

The United States economy is steadily reemerging from the COVID-19 pandemic-induced shutdown. Businesses are reopening to a different reality than the one that existed just three months ago, however. This requires businesses to spend most of their PPP funding on payroll. Around The Changing Payroll Landscape.

Payroll 94

Payroll Checks IRS Shutdown 94

PYMNTS

APRIL 2, 2020

The Federal Reserve Bank of Minneapolis President Neel Kashkari said on Thursday (April 2) that policymakers should be generous with the help that is extended to small businesses. We need to err on the side of being generous, helping as many small businesses, as many small profits as we can to retain their workforce,” he said.

Fed 52

Fed Federal Reserve Small Business Shutdown 52

PYMNTS

MARCH 30, 2020

For most small businesses, the dawn of the new decade was filled with optimism for their futures. For them, it all depends on how long the current lockdown/shutdown lasts and when consumer demand will return — and at what level. Consumer confidence was at an all-time high, and unemployment at an all-time low.

On-Demand 92

On-Demand Credit Cards Returns Shutdown 92

PYMNTS

MAY 13, 2020

In April, the government there planned a $1.9 billion program to support smaller businesses hit hard by the shutdown. The plan, implemented by state-backed lender Caixa Economica Federal, aimed to help around 3 million businesses in the country whose revenue was less than 360,000 reais ($69,458).

Shutdown 56

Shutdown Processors Credit Cards Small Business 56

PYMNTS

MAY 7, 2020

For many firms, the last two months have represented the absolute worst of times as social distancing and forced closures have ground their businesses to a halt. Disney, for example, reported earlier this week that it has lost roughly $1 billion each day since the start of the shutdown.

PayPal 99

PayPal Transactions Process Venmo 99

PYMNTS

SEPTEMBER 7, 2020

And cash coming into the (real and virtual) doors would do much to replace the spotty success of various government programs that were designed to help SMBs weather shutdowns. To hire means that some top line torque, or at least visibility, must be in place — cash flow, after all, is what pays for employees.

Shutdown 64

Shutdown Small Business Economy Payroll 64

PYMNTS

MARCH 29, 2019

That’s a wise maxim to follow in any business. As the latest Credit Union Innovation Playbook shows, credit unions stepped into the uncertainty of the government shutdown earlier this year by offering zero percent interest loans or deferring loan payments. It’s especially true for financial services.

Credit Union 40

Credit Union Fraud Prevention Consumer Shutdown 40

PYMNTS

NOVEMBER 16, 2020

The Wall Street Journal reports that New York City restaurant owners are "beleaguered" and hoping that their businesses won't be affected by future government-related shutdowns as the winter rolls on.

Shutdown 44

Shutdown NOV Small Business Governance 44

PYMNTS

APRIL 13, 2020

Small businesses are hurting, which has been reflected in record unemployment numbers, the near-total shutdown of mainstream businesses and in PYMNTS data revealing that as of about two weeks ago, a quarter of small businesses didn’t think they would survive the coronavirus pandemic at all.

Security 67

Security Payroll Phishing Small Business 67

PYMNTS

MAY 25, 2020

The Facebook-sponsored Small Business Roundtable results were among the truly stunning aspects of the business side of the pandemic. On April 6, days after the SBA PPP program had gone live, one in four SMBs still didn’t think their businesses would survive the pandemic, and four in 10 still said they weren’t sure.

Shutdown 64

Shutdown Returns On-Demand Governance 64

PYMNTS

DECEMBER 17, 2020

Interestingly, small business formation is at a multi-year high, as estimated by the Census Bureau. Small Business Solutions Matt Baker , Zoku Sushi CEO Charlie Yi and The Better Box owner Tamekah Bost said that innovations – particularly payments innovations – are helping to position them for a digital-first, and brighter, future.

Small Business 46

Small Business Shutdown Point-of-Sale (POS) B2B 46

PYMNTS

JUNE 10, 2020

Small businesses hit hard by COVID-19 shutdowns are facing thin cash reserves, and the extension of credit to those SMBs has become an increasingly crowded field. government , banks and Big Tech have all jumped into the ring to make financing more available, with the latest pair-up involving Amazon and Goldman Sachs.

Underwriting 60

Underwriting Push-to-Card Shutdown Enrollments 60

PYMNTS

APRIL 27, 2020

When the Paycheck Protection Program (PPP) debuted earlier this month, it was heralded by some observers as a lifeline for small businesses that power Main Street in the United States. There’s certainly a movement of SMBs doing … well, something to preserve operations as the shutdowns spread out across almost all US states.

On-Demand 67

On-Demand Small Business Shutdown Payroll 67

PYMNTS

JANUARY 21, 2019

Today marks Day 30 of the government shutdown, leading to consequences both complex and serious ; and Twitter feuds that can only be described as surreal. The government was the only place that got stuck in pause this week – the card networks also found themselves on hold in China. Small businesses have to be nimble.

Debit Card 49

Debit Card Visa Central Bank Small Business 49

PYMNTS

JANUARY 18, 2019

In commentary tied to his own firm’s fourth-quarter earnings, Bank of America CEO Brian Moynihan stated that “through the trillions of dollars of consumer transactions we process and from the steady confidence and activity of our small business and commercial clients, we see a healthy consumer and business climate driving a solid economy.”

Online and Mobile Banking 51

Online and Mobile Banking Volume Point-of-Sale (POS) Debit Card 51

CB Insights

MARCH 27, 2019

identity records, including those of politicians and government officials, leak across the internet. is a Boston-based startup that verifies government-issued IDs for third-party businesses. Amazon is also the US government’s cloud provider. Most recently, Dow Jones saw over 2.4M Confirm.io Source: Google.

Cybersecurity 76

Cybersecurity Encryption Data Breach Breach 76

PYMNTS

APRIL 22, 2019

there has been a bit of groundswell to curb the harm that such late payments may do to small businesses (SMBs) that work with the federal government. representatives introduced legislation that would mandate shorter timeframes for contractor work done for the government. However, in the U.S., Also in the U.K.,

Governance 43

Governance Government Small Business Payments 43

CB Insights

NOVEMBER 9, 2017

. “The general consensus of the employee base is that there was mismanagement of finances,” said one former company executive… The day after the shutdown announcement, one Mode manager of an overseas office described receiving frantic emails from headquarters requesting immediate transfer of all funds and assets back to the US.

Online and Mobile Banking 78

Online and Mobile Banking On-Demand Shutdown Push-to-Card 78

PYMNTS

JANUARY 18, 2019

The record-breaking government shutdown is at the center of debate, largely for its impact on unpaid government workers. However, reports in Bloomberg point to another community struggling to get paid as a result: government contractors. government, according to Bloomberg on Thursday (Jan. percent every week.

Shutdown 71

Shutdown Government Governance Payments 71

PYMNTS

JANUARY 17, 2019

After months of record highs, small business optimism has apparently begun a downswing — or has it? The latest research on the topic reveals a multifaceted view of small businesses’ economic and financial outlook in the U.S., for the forth month in a row, citing National Federation of Independent Business analysis.

Small Business 61

Small Business Research Shutdown Disputes 61

PYMNTS

APRIL 13, 2020

workforce, and whose businesses had been hard hit by the #stayathome requirements of the COVID-19 pandemic. That was the day the SBA PPP rescue relief effort began accepting applications from banks on behalf of their small business customers. Small businesses can’t survive weeks without demand.

Payroll 115

Payroll On-Demand Returns Economy 115

CB Insights

OCTOBER 31, 2017

Most surprising was the sudden shutdown of Sprig, a startup in the beleaguered food-delivery space that first received funding in 2013. ” Title: Why is Finance for Small Business Still Broken? Dealstruck closed its doors after more than three years in business. The shutdown was a conscious business decision.

Posting 78

Posting Product Online and Mobile Banking On-Demand 78

PYMNTS

DECEMBER 26, 2018

With the federal government in a partial shutdown, around 30 million small businesses will likely be impacted. The shutdown is the result of the Trump administration and Congress failing to reach a funding agreement that includes more than $5 billion the President wants to build his wall on the Mexican border.

Shutdown 43

Shutdown Small Business Governance Government 43