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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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The Case For Localizing Mom-And-Pop Investment

PYMNTS

At the same time, many early stage startups, particularly in the technology sector, still have access to traditional financing, like venture capital and private equity. Last week, small business accounting company ScaleFactor released a new survey on how SMBs access capital. Localizing Capital.

Capital 145
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How Spend Tools Feed Food Banks’ Need For Accountability

PYMNTS

The new Workforce Spend Playbook highlights the newest solutions helping SMBs to more effectively manage their capital, and focus on their expansion ambitions. These organizations face increased demand during the holidays — when they deliver food to communities in need. billion in value by 2025. Inside The Playbook.

Tools 141
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Crowdfunding, Deferred Loan Payments Jumpstart SMB Relief

PYMNTS

As more government entities introduce measures to aid SMBs, banks and FinTechs have launched their own programs this week to accelerate access to much-needed capital for their SMB customers. to help bailing out their SMB customers, with some regional financial institutions (FIs) already taking action. Fed Calls On Small Banks.

Payments 173
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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
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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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The Election That Misplaced Small Businesses

PYMNTS

million businesses that line the main streets and side streets of the local communities across the U.S. Small business owners don’t expect to be the star of the show, but wherever we went — and we went to Vermont , New Hampshire , Massachusetts , Virginia , South Carolina and Georgia — we heard the same two things over and over again.

Taxes 50