Lending

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Adapting to the Rise of Non-Traditional Borrowers

The gig (economy) is up! New research shows self-employment and gig economy working in the U.S. is on the rise. In a collaborative study, Intuit Quickbooks and Gallup found that self-employment is at an all-time high, with a record-breaking 44…

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10 Data Visualizations About The Paycheck Protection Program

Velocity of Lending Over $500 billion of funds have been disbursed in only a couple months.  This is particularly massive, considering that the SBA lent $28 billion in all of 2019.  As we can see in this graph, the program…

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Data, Duration and Detail: The New Analytics for Small Business Lending

As cities, states, and the nation reopen, small business’ access to capital will be a critical ingredient in recovery.  The colossal pandemic of COVID-19 has had a wide-ranging impact on public health, civil society, and the economy.   In the…

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Trust but Verify: The Questions Lenders Need Answered for PPP Loan Forgiveness

Doveryai, no proveryai - The Russian proverb that President Reagan commandeered in the 1980s to explain his cold war negotiating strategy--trust but verify- is an apt description of how the Small Business Administration approached the launch of the Payroll Protection…

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The Insufficiency of Credit Data in a Non-Financial Crisis

Credit scores and the data that underlie them have become a mainstay of American life over the past few decades.  Consumers seeking credit - a credit card, mortgage or auto loan - and businesses seeking capital - a loan, line…

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Supporting Small Business Members in the Age of COVID-19

Gallup recently conducted a study that surveyed 3.2 million credit union members across the nation in order to learn how they have been affected by the coronavirus pandemic and understand what kind of support members need the most. The analytics…

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PPP Loan-to-Grant Conversions: Are Your Customers Ready for Forgiveness?

Somewhat lost this past month in the fervor of the two SBA PPP funding events is the upcoming day of reckoning when participants will have the ability to convert the low-interest loans into forgivable grants. To do so, businesses will…

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Fintechs working with lenders and small businesses explain the pain points still plaguing the latest $320 billion round of PPP loans

 Written by Dan DeFrancesco and Shannen Balogh. Featured in Business Insider on April 29, 2020.  President Donald Trump signed a new stimulus package on Friday that replenishes funds for the paycheck-protection program for small businesses, but hiccups around distributing loans in…

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Streamlining the SBA Payroll Protection Program with Fintech Infrastructure

Last Friday was day one for the SBA Paycheck Protection Program (PPP), and by most accounts, chaos reigned. Many approved SBA lenders decided not to participate without more clarity on the underwriting due diligence expected from the Treasury Department and/or…

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Lender Infrastructure Key to Managing SBA’s Paycheck Protection Program

From seeding new growth initiatives to funding expansion plans, small business lenders are always in search of opportunities where they can come through for their customers in times of need. But the coronavirus crisis is providing them with perhaps the…

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