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Square Capital Distributed 76K PPP Loans Totaling $820M

PYMNTS

Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks, the firm reported. Last year, Square Capital did $2.3 Of that number, 60 percent of the borrowers had never before received a loan through Square Capital.

Capital 141
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How Spend Tools Feed Food Banks’ Need For Accountability

PYMNTS

Recent data indicated that 82 percent of SMBs shutter in their first year because of poor cash management operations. As SMBs seek opportunities to expand their operations, and reach new customers and markets, they will need the right spend and workforce tools to ensure funds are spent appropriately. billion in value by 2025.

Tools 141
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Commercial Real Estate or Business Lending: Which Is Better?

Jeff For Banks

Me: Commercial Real Estate loans are the most profitable product in a community bank's arsenal and have been through various interest rate environments. This was the conversation I had with a senior lender of a client at the Massachusetts Bankers' Association annual convention. The much sought after "operating account."

Lending 78
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The 2023 GonzoBanker Awards

Gonzobanker

Not the financial industry’s “Troublemakers ” – those regional and community banks, credit unions and supporting fintech entrepreneurs who continue to engage customers and communities and find niches that keep the grassroots of our country’s financial system alive and kicking. We are in awe. Seriously in awe.

Fintech 194
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Uber’s Developed Markets Turning Profits

PYMNTS

The company’s operations in North America, Australia, Europe, the Middle East and Africa are now returning profits, Financial Times reported. “We According to Kalanick, Uber’s China operation is currently funded thorough profits, investment money and direct investment from backers. its most profitable market.

Marketing 100
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The Current Banking Crisis – 10 Not So Apparent Lessons

South State Correspondent

It turns out that confidence is more valuable than capital. The ratio would provide a bank’s current core capital position to risk-adjusted assets. Some form of this ratio will likely be applied to the national and regional banks, which means larger community banks will also be judged by this ratio.

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‘Google Checking,’ T-Mobile Data Breach Top This Week’s News

PYMNTS

Chris Douvos of investment firm Ahoy Capital told The Wall Street Journal , “We’ve been in the middle of a rollicking party that’s gone on for five years and someone has snapped on the light switch.” The deal values Paytm’s parent company, One97 Communications , at $16 billion. Rowe Price and Discovery Capital.

Google 129